Fannie Mae-No Politics (FNMA)

[YanksGhost]

"Do we agree that what the BOD did was illegal?"

Simply stated, it doesn't matter at all. That is because under HERA, which became operative 24 hours later, FHFA could have done the very same thing under succession rights and met the conditions for a shareholder voting approval.

I detest the warrants, but they are not illegal for the reason stated. There may be other avenues, but they appear to only offer damages from the point of actual exercise which at 79.9% dilution from today's share price would be about two bucks max. Whoop de doo to that!