Fannie Mae-No Politics (FNMA)

[Fully Diluted]

Good morning Nats,

The calculation of the share price is much simpler: if 7.2 billion shares (warrants redeemed) are worth 250 billion dollars, then one share is worth 34.72 USD. Such an approach also avoids confusion regarding a JPS conversion.

I think HUD should have a place in the release process. After all, it strengthens the whole release team. Its job will be to make sure that the enforcement of the Fair Housing Act, which HUD was mandated by Congress to do, is anchored in the release process. Not a big deal.