Fannie Mae-No Politics (FNMA)

[Donotunderstand]

I also think that that - if we win - common does better ----

I also think there is a tiny chance - JPS win a few years ahead of common at say 80% of PAR in some deal --- (and the common deal is held up for some higher level of capital earned for a few years)

I own both as all types of outcomes are possible if we win

But it is not possible - IMO - for either common or JPS to win BIG without the other in the same WIN ZONE --- just maybe a bit different in size and timing

right now --- I would love for common to increase say 35 cents a share while JPS stay where they are

then I would sell common and buy JPS with a 4-5 X gain to PAR (yes - the current price of the JPS seems extremely attractive but I have too much in the combo and do not want to put new money into either --- as we can lose)