Fannie Mae-No Politics (FNMA)

[PhantomEnchanter891]

Thanks for the reporting.

She put together the slides, and gave the presentation?

What company is this? (Never heard of them)

Not clear either as to the impetus to prepare & deliver this information, as will-it-happen, could-it-happen, seem to have big road-blocks.

The elephant in the room is the ~$200B SPS. There has never been a financial vehicle like it. A loan that was never intended or established to be repaid. They made up the NWS. They made up the liquidation preference. They made up the handling of the $301 paid back as "income".

Just pointing out that a speadsheet or balance sheet might have something, but it is clear that if they move out of c-ship, all of this needs to be addressed and the presenter seems to think it can't happen. SPS on the balance sheet and government can't (there is no conversion stipulation) convert and they can't write-off (she says). Locked up maybe, but I have to believe Ackman has presented some sort of out... like a golden share or something.

Thanks for clearing up.