Replies to post #550909 on Fannie Mae-No Politics (FNMA)

[Fully Diluted]

Hi YanksGhost,

What are you talking about?

Once again I must remind you... a reserve is NOT capital when it is created by FEES, not retained earnings or via a capital stock issue.

Fannie's main source of income is fees - guarantee fees. Aren't they capital?

I need a booze now. First the judges tell me that credit is capital. And now you say that profits are not capital. :-(