Fannie Mae-No Politics (FNMA)

[imtheshadow]

skeptic7, I agree. The optimists say the rule-of-law admin will do the right thing, but what does that mean, and when? I think there is a very high chance that we WILL see a RRR in 1-2 years, but that commons could get diluted even more than the Moelis plan, all in legal ways. We could see the recap/loss reserve set too high, a JPS conversion rate unfair to common, and the IPO price set low to ensure enough new investors are attracted. All that means more dilution - on top of the warrants (unless magically cancelled by the tooth fairy). And all bets are off (to the down side) if the gov't moves to charter competitors - which I don't expect, but who would have expected an 11+ year cship with 10% SPS div AND 80% warrants AND the NWS? So I guess folks like you and I (and, ahem, the market) are just lemmings who don't have the vision to jump on the choo choo express that is shoveling our shares into the boiler as we barrel towards the big pay day. Just not sure its going to be ours ... cheers, shadow