Fannie Mae-No Politics (FNMA)

[YanksGhost]

I think Ackman's point is spot on, but maybe for a different reason than gets noted in his commentary. If the capital threshold fails to be lowered and the IPO to raise that amount is undersubscribed, does this, then, force FHFA ro declare a severe under-capitalization event and a receivership that could wipe out new investors? Without this issue being resolved by demonstrating a fair and conciliatory treatment of legacy investors, NOBODY is going to stick their toes into that toxic wastewater left over from the 2008 investor massacre.

JMO.