Replies to post #508762 on Fannie Mae-No Politics (FNMA)

[kthomp19]

Once out of conservatorship, only boards elected by common shareholders get to decide how to raise the capital.

Nope. The companies must be fully and adequately capitalized before they are released. Calabria has all but said so himself. See this post for the full explanation.

That means that the recap will happen while the companies are still in conservatorship, which means that FHFA will be the one calling the shots (along with Treasury, of course).