Fannie Mae-No Politics (FNMA)

[FOFreddie]

Good chance for investors to sell if they want. Personally - I think we have good chance having the SPS Liquidation preference wiped or written down significantly - most importantly the SPS Liquidation preference will be wiped or capped at a date in the past when one of the separation of powers remedies claimed in Collins, Bhatti or Rop became ripe.

Be prepared to wait a long time but it is a matter of when and not if. If the SPS Liquidation Pref is capped or wiped - time is on the side of common .

Again - I would urge all investors to consider the perspectives of Familymang because he may be right. I am basing my opinion primarily on the 2022 oral arguments for the All American and Collins En Banc proceedings in the 5th Circuit - so I could be wrong and investors could sell now at 40 cents.