Fannie Mae-No Politics (FNMA)

[cclose1]

I strongly disagree. I personally think that F&F will be released as a "severely undercapitalized" enterprise, subject to an approved capital restoration plan. This restoration plan will include a substantial Credit Risk Transfer (CRT) program that will reduce as capital is built. An ongoing g-fee will be paid to the government, and the SPS will balance will be considered repaid (with an assist from the courts). Once capital is built the board will continue to raise capital in order to repurchase the warrants.

Given these higher priorities, i wouldn't expect a dividend for several years, and at 50% of par value i'll take the commons.