Fannie Mae-No Politics (FNMA)

[Donotunderstand]

So -- pages 28-31 OUT of CONTEXT - are the discussion most pertinent to future exit

When one reads this - these pages -- one can see IMO why there was no freedom during the DJT administration

And if JOE were to ask for a study and recommendations ---- these pages would read 95% the same and thus again no action

The policy did not - I repeat did not - do any math or analysis on should the GOV forgive - eliminate the LP obligation or Convert that amount (about $200B) to common stock. That is my memory. Those who decide to read it now - please let us all know if there are key ideas or paragraphs outside 28-31 for policy/action

Note - i read elimination of the Senior .... shares --- as flat out - call them paid off (I think other pages talk to making the GOV whole -- but again are not defined at all ---- and IMO (surprise but I have said it 100 times) --- with 300B going to GOV and $200B going to F and F ---- that is enough to eliminate without another dime --- ALL IMO (as dividends over 15 years needs to be viewed as part of making GOV square)