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TRCPA

09/05/19 5:13 PM

#552617 RE: cooler_heads #552602

Well, that doesn't sound so bad for commons, specifically at all.

It is light on specifics, but the broad outlines of returning to privatization are there, if the end of NWS isn't yet. We need some fleshing out on what kind of capital numbers they are talking about retaining.

And we still have the en banc ruling to go, which potentially has $16 billion waiting for the GSE's or shareholders, along with a possible immediate end to c-ship and NWS.

So yes, en banc has a lot yet to do with commons.