Fannie Mae-No Politics (FNMA)

[Fully Diluted]

Yet it is not that challenging to comprehend that two companies with a 445 billion backstop are substantially more valuable than those with only 250 billion or even 0. If capital requirements can also be reduced, thereby significantly improving ROE and avoiding dilution through a new share issuance, the increase in value should be even more apparent. Not to mention a better P/E ratio due to increased investor confidence, which you don't believe in...