Fannie Mae-No Politics (FNMA)

[imtheshadow]

not sure what all the fuss is over returning the nws "over payment" ... what ever that figure is, the gov't will get 80% of the benefit when the warrants are exercised ... this whole focus on the nws vs the warrants reminds me of the joke about the guy looking for his keys at night under the street light when his car was parked down the street ... a good Samaritan wanting to help asked "why are you looking here when you car is way over there?" ... the driver said "because this is where the light is" ...

let's says the over payment is $30B ... divided by 1.2B common = $25/sh x 20% (common's share after warrants) = $5/shs ... and that's before recap dilution ... and the infamous jps conversion ...

our bumper sticker should say ... "It's the warrants, stupid" ... or maybe just "I'm stupid" ...