Fannie Mae-No Politics (FNMA)

[kthomp19]

Depending on political winds and who is in charge of Treasury, their stance may change over time.

What is your estimate of the probability that Treasury will change its mind on this front? Personally I think it's quite low given that Treasury has defended the NWS tooth and nail throughout the Obama, Trump, and Biden administrations.

Someone's recollection of the thought process at a point in time doesn't mean that stance will stick in the future.

Calabria's account is hard evidence. It is a direct account from one of two parties that were negotiating. I suspect that you keep trying to downplay it (using terms like "recollection" and "thought process") because you don't like what it said. Especially when you claim that the jury's verdict (which had absolutely nothing to do with Treasury, the senior preferred shares, or the liquidation preference) is a stronger indicator of what Treasury will do with the seniors than Calabria's direct account.