The fact the NNI's assets are Gov't Guaranteed does not mitigate the point that they operate in a free market environment. Loans are originated, serviced and sold by virtue of free market capitalism. Having capitalists in charge is beneficial.
Also the objective of a public offering is to raise a fair (though High) amount of money. Successful IPOs are not defined by low prices. Getting a full price for your IPO doesn't make you greedy, it makes you successful.
As such, Mike and mini me Butterfield (hehe, that's a hoot) should be congratulated....... along with the rest of the Nelnet management.
Congratulations to Mike, mini Me Butterfield, Ray and lets not leave out Bud the Stud.