Thanks FOFreddie - I will pass it on to her. I take this as her declaration of war on the MBA as they are interfering with her getting dividends. And you don't cross Grannie! She really wasn't following this until I explained to her why this has taken so long to get resolved and she would not get her 5% until it is. (I thought it interesting the other day that Ackman used 5% in his presentation). She is following this so closely that I have started calling her Grannie Mae. I started calling her DC Grannie when she, and a lot of other Grannies took up the cause of the Social Security Fairness Act (40 years of inaction resolved overnight - so this 16 year stuff is nothing to Grannie). We will be out of conservatorship by next Christmas - or Bessent and Pulte will get a lump of coal in their stockings and, I am sure, she will tell their mommies.
Yes, it does not seem possible that Fannie is 87 years old this year. I remember when they hit $1 Trillion in MBS. I used to follow the RE industry closely and was really excited as this made them, by one measure at least, the world's first Trillion dollar company. This is the largest company in the US and has been kept in a conservatorship for 8 times longer than any other company? And, as you note - what company has done more for the country's middle class. And why did it take them 16 years to reach the TINA conclusion? But I am preaching to the choir.
Nats
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