Fannie Mae-No Politics (FNMA)

[LuLeVan]

Government can and will keep a stake for awhile

There are legal limits

JPS are a debt

JPS are equity like commons. After recap/release, JPS will probably be converted into new commons anyway.

The cram down gazillion share recap fulcrum security recap plan has always been futile ever since they said they would begin allowing capital to build.

Recap/release is a one time event. The fact that is has not happened yet does not mean that predictions expecting it are wrong - or will "ever be futile." Recap/release is actually TINA if you want to restore economic value to commons and JPS before 2040.