Fannie Mae (FNMA)

[FOFreddie]

It's a Wonderful Life

I purchased FNMAT on the IPO in May 2008 at $25 per share because I thought it was a reasonable investment but also because I thought the mission and purpose of FNMA was a great thing for America. Listening to people the then Treasury Secretary Hank Paulson I thought FNMA needed my capital at a critical time and I wanted to respond with my family's investment capital. I have always loved the story of George Bailey and Bailey Savings and Loan. How the loans that Bailey Savings and Loan transformed lives like the Martini family - how people came together with their savings and trusted institutions for the common good. How people like Potter finally loose out and how honesty and integrity win out.

Almost 12.5 years later I am still holding out and thinking that I am not a fool for believing in the greater good and that our institutions will uphold values such as fairness and the rule of law.

It seems like this will be a critical few weeks that will set off a string of events which may be crystalized in a SCOTUS ruling and ultimately in a settlement.

Perhaps I am a fool but I still believe and I hope I am still find truth and reassurance in movies like Its a Wonderful Life next Christmas.

Happy Holidays and Best Wishes for the New Year to All!