Fannie Mae-No Politics (FNMA)

[Steel Penny]

Obi, it doesn't have to be 100% ownership. As you will remember, the Govt. was entitled to 79.9% of the stock if the options were exercised. That is particullary telling. If they would have set it at 80%, and then exercised the options, then they would have had to include F&F debt on the U.S. financial statement. At 79.9% the Goverment is only an investor. I know, it doesn't really pass the smell test, but it does follow the IRS Code and Generally Accepted Accounting Principles. You got to love it.

GLTA, especially the LONGS.