Fannie Mae (FNMA)

[Robert from yahoo bd]

The reality of the perpetual conservatorship seems to be the Government wanting to: (a) keep $6.7T of Liabilities off the federal government balance sheet while (b) having total control over these two private corporations AND taking all their value through the LP and the 79.9% equity warrants. It seems that the idea of having 1st Loss Private Capital backing $6.7T in MBS is gaining some popularity (it's how LBJ set it up in 1968 and worked swimmingly until 40 years later) amongst some governmental decision makers, especially given their contributions to both Secondary Mortgage Market Stability and Federal Monetary Policy as the Federal Reserve attempts to try to influence the yield curve.

If you think that the courts will result in nada, you're holding your "free lottery tickets", as a hedge in case you are wrong?