Fannie Mae-No Politics (FNMA)

[YanksGhost]

The Moelis Plan is a high level plan or template with so many flaws and out of touch aspects as to be totally worthless.

1. It is totally inconsistent with the Administration's Reform Memorandum.

2. It is totally non-implementable until all litigation is settled.

3. The litigants are almost all JPS investors who lose standing to their claims if they settle.

4. There is no established likelihood that ANY of them will convert to common shares to vacate JPS dividend contract rights.

5. There is grave uncertainty about any recap scenario that involves a secondary offer on an Otcmarkets trading platform.

6. There is even graver uncertainty about the ability to successfully subscribe any offer for businesses that are in conservatorship.

8. There is even GRAVER uncertainty that any secondary offer that is 4 to 6 times larger than the currently largest IPO in history would even be able to secure an underwriter and book runner.

Consequently, the Moelis Plan might best be classed as unrealistic, half-assed and worthless.