Fannie Mae-No Politics (FNMA)

[YanksGhost]

Plenty of ways to skin this kitty. Banks syndicated in the book running process will likely only subscribe to Preferred share offers because common shares don't qualify for their own core capital. This creates a current JPS holder dilemma because no dividend can be paid until required capital is amassed. If no P offers are offered, you wipe out BAC, Wells, Citi, Chase having any interest in masses of common shares. I could see them buying SOME, but not hundreds of billions.

Again, we must wait for the underwriter plans from F&F.