Fannie Mae-No Politics (FNMA)

[FOFreddie]

Thanks for your insight Glen

Assuming the warrants are valid - how does the UST settle with existing common?

Of course there could be a settlement in Sweeney's court but the judgement would be paid to the companies directly. This is good because of less dilution and shareholders will benefit from investment return of cash paid by UST. What are your thoughts about this?

What about a shareholder vote and some type of exchange under Delaware law? Ackman might want some type of near term payoff rather than just settling for a derivative judgement and indirect payoff?

Thanks again for all your insight and information over the years.