Replies to post #2541 on Fannie Mae Preferred S (FNMAS)

[Joe Stocks]

you want to recapitalize when you are stronger to get more bang for your buck. why do it now when financials are improving

I think I was addressing more that the treasury is not allowing FnF to build capital. If you are talking about 'recapitalization' as in restructuring I would agree. However, the Treasury demand that we reduce capital (equity) to zero by 2018 in concerning. I would prefer that we would be allowed to keep some of our profits to buy back senior preferreds. Personally i would like to have a plan in place to pay back, than HOPE that they look kindly on us and use some kind of net investment scheme.