Fannie Mae-No Politics (FNMA)

[Guido2]

One word answer: COWARDS. Longer answer: COWARDICE & JEALOUSY.

Let me elaborate. The same people who still pimp the warrants are Junior Preferred holders who are afraid to hold Commons but want their enormous potential to rocket into hundreds. Not too long ago the same cowards were also promoting SPS conversion and converting their JPS when the commons got to 5 cents (in their wet dreams). After the Lamberth Jury Verdict, even these village idiots realize that SPS won't be converted. NOT ALL JPS HOLDERS PIMP THE WARRANTS. I hold preferred. Though I'm mainly in commons. There are many upstanding preferred holders. Unfortunately, they are silent or smart enough to know that this is the FNMA board and not a preferred board.

Ackman also promotes the warrants for his own reasons. Speculation is that he wants to buy them from the Treasury. In 2008, he made an offer to buy them. Also, as long as they are outstanding, he and other big buyers don't have to disclose their accumulation until they reach 5% of the diluted shares.

3 and out.