Fannie Mae-No Politics (FNMA)

[kthomp19]

There is an accounting rule that the balance sheet should be added to that of the parent if the have a stake above a certain threshold. My memory is that those making the takeover thought that the threshold was 80%.

Perhaps it was 80% in the past, but in 2014 it was changed to 95%.

Millstein's 92-94% is a suspiciously specific range.