Fannie Mae-No Politics (FNMA)

[JosephS]

Eh. We’ll see. The preferred price is not predicting a victory. I think that preferred will win but it’s a 10x move to par.

The common is priced at 5x the fully diluted share count if SPS, JPS are converted and warrants are exercised. (10/12 cents is probably fair value if everything bad happens)

It would drive down prices. The government doesn’t seem to care about anything but extraction of actual cash.

So I would consider that math before investing.

Not a recco