Fannie Mae-No Politics (FNMA)

[The Man With No Name]

Just to make sure, by "zilch" for the commons you mean near zero and not actual zero, right? It might seem like semantics but for the juniors there's a huge difference.

Oh I'm well aware of the difference. And I also said "may" for the juniors. Without going into the weeds, let's just agree that commons can essentially be wiped out...like in a penny or sub-penny valuation...without receivership. As long as common holders retain their shares, even if they are diluted to practically worthlessness, they aren't impaired.

A long runway indeed.