Fannie Mae-No Politics (FNMA)

[TRCPA]

Potty......Dimon is a shrewd character. He didnt get to his position for no reason. He knows how to take advantage of situations.

He is talking about "the months ahead" for the capital raise, for the following reasons.

1) He goes on the GSE investor offensive and looks to get a big bite of the whole GSE apple as first in line

2) The months ahead remain treacherous for the economy while covid is still active....which leads to 3....

3) He gets the dirt cheapest shares in the short term no matter if there are 1, 2, or more capital raises, because he is getting them in advance of a likely vaccine for covid and corresponding ultimate spike in share prices following the end to the pandemic

Meanwhile, Calabria is thinking the same thing in terms of the capital raise and economic conditions.
2nd Qtr 2021 should be prime territory for raising GSE capital, with covid behind us and going into the summer months.

In effect, Dimon is telling FHFA that hey, I could take this off your back now, pre-election....rather than wait and possibly have your position lost ( Calabria) in a new administration.

It's a game of chicken for Calabria. We all know how much he loves rubber chicken, but this one maybe not so much.