Fannie Mae-No Politics (FNMA)

[RumplePigSkin]

Per Tim Howard - the former CFO of Fannie Mae on Fannie & Freddie Junior Preferred Shareholders (JPS).

I don’t believe there is, or was, a “deal ready to go.” And I think the notion of a simultaneous settlement and massive private placement of equity with new investors is a fantasy’s (cooked up (INVENTED) by holders of Fannie and Freddie junior preferred stock hoping for a quick way out of a “QUAGMIRE” trade), with neither any observable evidence nor a defensible rationale to justify it.

https://howardonmortgagefinance.com/2020/10/07/the-director-digs-in/#comments