Fannie Mae-No Politics (FNMA)

[Potty]

SCOTUS will not be taking this recent amendment into consideration in their ruling, I believe.

You can look at what Mnuchin and Calabria did in two ways -- they are forcing a resolution by pressuring plaintiffs to settle or SCOTUS to act. Or you can see it as Mnuchin betting SCOTUS will not touch past amendment, that Treasury will be set to maximize its Senior prefs and warrants after SCOTUS and that this amendment is designed to block any liberation of GSE's back as private companies that Republicans have always hated

I tend to the half full view. And I just cannot justify tying up capital till June when (i) the risk-reward looks bad; (ii) there are so many other things to invest in right now and (iii) I could just keep cash, wait for a crash and buy proper companies on the cheap with no BS about government/congressional decisions

This really needs to get to 10% par on JPS before (i)-(iii) gets over-ridden for me and I make a speculative investment