Fannie Mae-No Politics (FNMA)

[FOFreddie]

Wow! Thanks for such a detailed response.

I am under the impression that Ackman and GFA will expect common and preferred will do well since they are long both securities - thoughts?

Regarding the FMCC and FNMA relative prospects - why do you think GFA has been adding FNMA and not FMCC? Doesnt FMCC have much less outstanding shares and warrants than FNMA? If there is some settlement wont FMCC shareholders have a greater claim on settlement proceeds since they will require less capital and are currently holding a higher percentage of likely pro-forma capital requirements?

Which entity is likely to be released from conservatorship first - FNMA or FMCC?

Thanks again