Sunday, February 05, 2017 8:55:01 AM
I was reading the SPSPA and found 2 paragraphs (6.7 and 6.11) which provide a quick way to completely unwind the conservatorship. The paragraphs say that if any part of the SPSPA is illegal, then the Treasury Secretary can write a notice to the FHFA Director ending the conservatorship and unwinding the entire conservatorship back to the point before the SPSPA was signed. All money sent to Treasury will be returned to FnF. Treasury returns the Senior Preferred Stock, and FnF returns the money Treasury fronted to them. FnF gets to keep all money over and above that money. All settlements by the TBTF banks that Treasury took gets sent to FnF because they were the bodies damaged by the toxic mortgages. Between the excess money sent to Treasury and the settlements, FnF are nearly completely recapitalized. Further recapitalization can occur over a 5 to 10 year period. At that point, their Government Charters can be swapped into private charters and they are free to proceed with business.
I am trying to make this option known to people who need to know it, and I have found applicable breaches of HERA which can be used to nullify the SPSPA and reverse the conservatorship
It my mind, this is the best possible long term solution for FnF as well as the shareholders. It doesn't appeal to those who want to carve up FnF.
Hang in there, we're close.
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