Fannie Mae-No Politics (FNMA)

[JSmith5]

No actually the delusion is that it will go with no repercussions

I agree that we know with absolute certainty that some law firm, somewhere (probably K ST), will challenge the warrants once they are exercised. There is simply too much money involved to ignore it. This is regardless of the merits. That's why God or Gore or someone invented lawyers (or was that the internet). And if they win, so much the better. But in the meantime, I would not bet my Roth IRA on winning. Any realistic estimate of the value would include warrants - as Ackman has. And I think he is just as realistic in not including the Seniors.

But that's part of the value of this Board, as I know a lot of people won't agree, and I am also always looking for counter arguments to whatever I post, as I won't learn anything by just talking to myself. When it comes to the stock of the GSEs, I consider this Board part of my due diligence and I would encourage others to think of it likewise. If we have learned anything, we can't rely solely (if at all) on the media to get our ongoing information about what's going on with the GSEs. So thanks in advance to a reply to all my posts, even personal attacks (although my wife is largely in charge in that department), as this is a fast moving train (sorry Navy) and we can see the station in sight.

Nats