Fannie Mae-No Politics (FNMA)

[Lionscantwinagame]

That's the most logical thing to do. Avoid the absolute absurdity in creating 30 billion shares and trying to off load that garbage into the market. Garbage in makes garbage out.

As you've shown, a similar return can be achieved by using common sense. Ultimately a higher return will be obtained for both the government and common shareholders without the senior preferred nonsense. This being from a higher valuation that otherwise wouldn't be achieved with a senior preferred and warrant cram down that the junior preferred holders call for.