Fannie Mae-No Politics (FNMA)

[GZGZGZ]

the cap structure is not known yet, and the shares can't be priced without knowing that.

Like the last bump up, I can see another small pull back; the next bump up will be when the twins retained profits

even then I see the upside @5 -- since the capital structure hasn't been defined ... the value can't be ascertained

And how will the twins be capitalized? warrants?

I can't see existing shareholders being undercut by any method the GSEs uses for capitalization .. that's crazy