I will say this, while there may be a roadmap with milestones and hopefully a timeline for congress before the ship sets sail, all of this is really written out of whole cloth. not only has this type of transaction, raising $100B for massive companies to get out of conservatorship, not been done before, but the guy at the helm has utterly no experience with capital markets. worse, Calabria clearly holds himself and his intelligence in high regard, which normally is a plus for someone with his responsibility, but given that he doesn't know what he doesn't know, this whole process is going to be white-knuckle. I just hope the bankers do a good job.