Fannie Mae-No Politics (FNMA)

[Potty]

The basic financial logic of this situation is fixed by certain states of affairs that really have not changed much since Moelis. So it is not surprising to see shadows of Moelis's assumptions, and plan, in the proposed capital rule.

Things have indeed changed here, we have moved materially closer to administrative action that will bear a lot of similarities, imho, to Moelis...

But we all make our own evaluations -- hopefully all FnF holders do well. After all, even Mr Magoo finds his way home safely, right?