Fannie Mae-No Politics (FNMA)

[TRCPA]

This is not a typical reorganization situation.

You have situations here unlike any typical company reorganization.

1) You have a government conservator

2) You have the distinct possibility that the government conservator improperly discharged its duties, to be settled by SCOTUS

3) You have 2 of the most highly profitable companies in the country

4) You have capital standards that are set by a conservator that may have already overstepped its bounds

This is not going to unfold like any normal reorganization. How it will exactly unfold remains to be seen, based on the factors above and others.