Fannie Mae-No Politics (FNMA)

[Donotunderstand]

I fear you are right

To me - the NNWS being killed or delayed with a capital buffer increase is now a given


The issues that scare me - that can change in one day - are the GOV warrants (do we now own 100% or 20%) AND the overall SPSA


Most of us assume with 300B out and 170B in that the SPSA is gone as its paid for

Reality - the GOV can demand that money as everything paid has been dividends on stock … even if the GOV needs to pay back 50 or 75 billion - the outstanding SPSA can be viewed as owed

then -- those issues - warrants and resolution of SPSA - will show us the mind set of Mnuchin Calabria and I assume the permission of DJT