Fannie Mae-No Politics (FNMA)

[Wise Man]

What are you talking about? The dividend payments have nothing to do with the conservatorship, but being Adequately Capitalized. This is what the divided was suspended for, in 2008.
With FnF, you have to add the new rule (Table 8) of payouts. A payout is barred until FnF fetch the threshold of 25% of the buffer. So, Adeq Capitalized now isn't enough.
We are almost there to resume the dividend payments. Therefore, the JPS's fair value today is 99.9999999% of their par value.
There won't be reIPO because FnF are already trading on the market. Besides, there are no stocks to offer to the public.