Fannie Mae-No Politics (FNMA)

[Joseph_Otting]

Structured Receivership seems the most likely path forward. After numerous discussions with Steven, Mark, POTUS, and even Mel, Receivership makes the most sense to prevent Private Gains and Public Losses.

Recapitalizing the GSEs is the plan, but it must be structured so the Common and Preferred shareholders see minimal gains or it would be a bad image for Steven and I.

We can't have post-Conservatorship investors calling the shots and demanding we go about recapitalizing the GSEs in whichever way benefits them the most.

Expect more details in the 2nd week of January. Follow me and @FHFA on Twitter for the latest information.