Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

The implicit government guarantee requires more organic shareholder capital in a 1st Loss Position. Why organic? Because what insane investor would possibly be as stupid as we have been all these years in believing the government when they told us in 2008 that the conservatorship would be temporary. Would you go into business with a partner that is a thief and liar? Sure, how much should I write a check for !