Submitted by joe rosenberg, Sep 8, 2008 00:19

Paulson, along with Putin, have done us a great favor by making it clear to us where they stand in regard to private property rights. We have been warned! What Paulson may not understand is how quickly invested funds can move to a locale where property rights are respected. The work that I have seen on Fannie Mae indicated that the company was in no imminent danger of collapse. In fact quite to the contrary. Even if they raised $15 billion of new capital at $6 dollars a share (below the market on Friday) they might be able to earn $1.50 per share next year on a vastly diluted share base. I would very much like to see the analysis that Paulson did to support his case.

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