Fannie Mae-No Politics (FNMA)

[Wise Man]

We've come to an impasse with Bradford "the European" (LuLeVan)
When things are explained but you keep on selling smoke.

When Lamberth issues the final judgment, JPS and Freddie shareholders will have their first payday in 15 years.

There are rules.
No one should have the perception that will ever get $1 out of FnF while they remain undercapitalized.
Or better said, with regard to dividend payments, the threshold is 25% of the Prescribed Capital Buffer with the Table 8: Payout ratio.
This is because Capital distributions are restricted. This payment of Securities Litigation judgment, but also dividend payments and the increase in the SPS LP for free as compensation to UST.
Don't make the case like on Saturday contending that "the government officials are criminals" that have managed to steal $301 billion and get away with it, because that's not authorized in the law and you are just twisting what the judges say: "SCOTUS said that the FHFA can do whatever the hell it wants" or Ackman implying that SCOTUS said that FHFA has absolute discretion, because Justice Alito and judge Willett said that the prerequisite is the rehabilitation of FnF (FHFA-C's power), adding the Marxist-way (extortion of resources, not their profits) which is the "may" in the Power and the "in the best interests of FHFA" in the Incidental Power.
🚨So, financial rehabilitation, but with those payments, not now after stealing all that money🚨, which is what you want with your "SPS conversion/cancellation" pitch, so the non-convertible JPS follow suit and you make up for your losses with the absence of dividend through the conversion price, besides the assault on the ownership of FnF.

Neither the $301 billion nor the Restriction on Capital Distributions are gone.
It's what the Separate Account plan is about. Because these payments/actions have existed despite being forbidden. Then, we consider them assessments in the form of capital distributions, applied towards the exceptions to this restriction in order to legalize it: reduce the SPS and recapitalization outside their balance sheets.
Just like the assessments for the repayment of the principal of the RefCorp obligation with the taxpayer, with monies deposited in a Separate Account, called "credit due to FHLBanks": statutory wording in the 1989 bailout of the FHLBanks.
Besides no dividend was possible with Accumulated Deficit Retained Earnings accounts (adjusted $-216 billion), as dividends are distributions of Earnings (Equity). They are not interest payments (expenses result of operations)
It was explained here with all detail.
Just like you buddy in this conspiracy "commodore" intoxicating this board with his happy emojies to pitch the idea that FnF are in good financial health ("$100B+ cash Equity" instead of $-194B core capital) and are set for release ("What are you waiting for?" asked Hindes to Sec.Yellen in a letter), and that is continuously being called out, either for the "FnF retain earnings" slogan like you in my prior post, and with this slogan of expectation of payment following the jury's verdict, which hasn't even taken effect yet without the judge's judgment. Here.