Fannie Mae-No Politics (FNMA)

[kthomp19]

A recollection of a conversation from years prior, where someone said something and it gets positioned as Treasury said or did something official, when in fact it is nothing more than hearsay.

Wrong. It was not hearsay at all. Calabria was one of two parties negotiating an end to the senior pref overhang, meaning he was a direct participant and his words don't fit the definition of hearsay. In addition, Mark Calabria recently corroborated what he said in his book regarding a senior-to-common cramdown.

You choosing to ignore this evidence means your estimates are not evidence-based. What are they based on, then?

This is just looking like a classic case of you refusing to believe something because it isn't what you want to hear.