Fannie Mae-No Politics (FNMA)

[Potty]

Yeah, it seems that the capital rule implies a greater likliehood of Treasury going for an option involving greater common dilution...

I cannot figure out why people don;t buy the protection of contract, and face value, of preferred...

But I am happy to be in FNMFO at a decent price with, like you say, 4x to par from here - if RnR fails then Lamberth goes to trial, Collins finally has a judgement and Sweeney does her thing (something!) in 2021

IF FnF get released under consent decree, then I think a new FHFA director may well make the capital rule less punitive... I am also do not so concerned that Biden is an FnF hater, Dems have long been supportive outside a few corrupt Dem senators