Fannie Mae-No Politics (FNMA)

[imtheshadow]

You have been relentlessly optimistic - and that is to be applauded - but I wonder ... what does success FOR CURRENT SHAREHOLDERS look like to you? I see 4 major obstacles to success (sp > $5): 1) ending AND returning sweeps exceeding 10%, 2) reasonable reserves, 3) no new charters/competition and 4) warrants. Since Moelis assumes the warrants are exercised, that might not be obstacle for my benchmark, but the other 3 could easily sink the ship. The law suits, election and new investors will all put pressure on Trump, but the narrative still coming from the WH/Admin. is highly destructive to current shareholders. Are you really expecting the WH to cave - meaning the current rhetoric is just posturing? Thanks for any specifics on how you see this unfolding.

PS given our track record in the courts, and the narrow 9-7 en banc ruling, I not so sure the gov't will feel that they have to settle the law suits to RRR. Compared to the P's, the gov't has effectively unlimited time and money.