Fannie Mae-No Politics (FNMA)

[bradford86]

According to the FNMA balance sheet the government has $120b of spspa face value and $19b of jps face value that gets made whole before value accrues to the common and warrants based on the cbo analysis.

$140b of equity value ahead plus 80% dilution of what is left — is the starting point for an undercapitalized company that does not have enough capital to exit from conservatorship.

$15b of annual earnings. Give or take. Just for fannie mae.

Enjoy