Fannie Mae-No Politics (FNMA)

[LuLeVan]

I also think the rally in the commons is positive, and I would be very happy if it was due to a release where the SPS were cancelled and only the warrants were exercised. Because in that case the JPS would certainly reach par value. Unfortunately, I think the probability of this happening is low.

In any case, it is a common misconception here that JPS holders would be interested in seeing the commons heavily diluted and underperforming. Hope this wouldn't happen is no investment strategy, though.