Fannie Mae-No Politics (FNMA)

[The Man With No Name]

Listened to Calabria calling "conservatorship" an "administrative bankruptcy" is misleading.

BK sets off alarms, but I suppose that his further comments, as he went of to explain c-ship is to rehabilitate and then decide to r-ship or release. He spoke of getting them out and the conditions.

So, if you listen to him, it is actually very positive. He was working on a large equity offering (he did not say IPO or SPO, just equity offering).

It's not misleading at all. It's what every Debtor's lead attorney in a Chapter 11 says when speaking in court about a publicly traded company. It's a lot of sweet language...sounds great to the uninformed...rehabbing, fixing the structure, etc., and then the re-org plan becomes public and those not in the money are left out in the cold.