Fannie Mae-No Politics (FNMA)

[IL Padrino]

Yes, it all depends on the warrants and SPS. If we’re not diluted, I think we will be golden. The dilution is the main unknown factor here. My guess is we don’t get fully diluted, but will be partially. However, that could be offset with future buybacks. So much uncertainty here but finally headed in the direction of resolution.
If you watch the documentary “Obama’s America”, you can begin to understand what happened to the GSEs when you understand his vision for America. It’s horrifying actually.