Fannie Mae-No Politics (FNMA)

[YanksGhost]

I view Calabria's mandate is to overturn the entire SPSPA as illegal. Every comment made by first Mnuchin, then Otting and now Calabria has focused on getting taxpayers de-risked of another bailout.

UST is staring down the barrel of a bazooka loaded with $200 B in open Treasury draws that the GOV has specifically GUARANTEED.

This whole SPSPA saga is about to be fully unwound, money from a failed conservatorship returned to the entities and F&F released to determine their recap strategy. FHFA's only role will be to regulate, starting with a capital standard and some form of waiver to provide time for full capital formation attainment.

This is going to be a beautiful thing to sit back and watch.

JMO.