Fannie Mae-No Politics (FNMA)

[bcde]

What is the difference between running FnF with conservatorship and without conservatorship,
if JPS, CS, SPS and Warrants remain the same without any change.

FnF can run much better without bureaucratic burden of FHFA conservatorship on their back.

FnF can build their core capital using SPS as backstop outside conservatorship.