Fannie Mae-No Politics (FNMA)

[YanksGhost]

Moelis, in their second visit, informed FHFA of the need for them to engage a financial advisor to help guide the process of recap and release. Obviously even they recognized that their "plan" was little more than a concept for consideration and not some prepackaged and "ready to go" plan that had been fully thought through.

If Moelis, themselves, had no conviction in their ideas being fully fleshed out and ready for implementation, what gives you the confidence to stand behind Moelis as some "be all" finished product? To me, Moelis isn't just not ready for prime time, it isn't even ready to be called worthwhile. It is just ideas put forth by a billionaire fund investor that owns beaucoups JPS stock and wants another big payday like when he shorted the housing market and engorged his income at the expense of foreclosed property owners.