Fannie Mae-No Politics (FNMA)

[JSmith5]

Look - the Government bookkeepers consider the DTAs as key to the bottom line of the the financial results - see the last column. That makes our case even stronger as its a small loss of $1.3 B against cash of about $110 B (as of now). I think we can handle that.

That's why I am saying that the Government threw in every adverse financial scenario and we passed with flying colors. But you have to include the DTAs or any other conclusion is deceptive as hell.

Nats