Fannie Mae-No Politics (FNMA)

[kthomp19]

the point needs to be made that the resolution process must be fair and predictable to common and JPS shareholders alike

Be careful how you interpret Calabria's words. He was not at all talking about how present FnF junior and common shareholders will be treated.

Instead, he was saying that FHFA put FnF into a conservatorship that acted like a receivership, thereby bypassing normal insolvency rules.

Calabria has said before, on at least 2 occasions, that FnF shareholders should have been wiped out in 2008. To him, that's what would have been fair!