Fannie Mae (FNMA)

[Bruce A Thompson]

1/ Government explain that the sweep is to save the bailout funds for taxpayers in case FNMA continued to lose and did not have ability to re-pay. It was no intention of " taking " at all --- Sweeney will rule
" Taking Clause does NOT apply ".

Like FHFA had no idea how much $ was going into the company checking accounts every day during the Q and they were just as surprised as everyone else when the multi-billion profits magically appeared on the bottom line. RIGHT! And the immediate recognizing of the DTAs and sweeping them too was another surprise. RIGHT!!

2/ Government explain that because FNMA today prove they are solvent, Government therefore retain the bailout funds of 116B, the rest will be returned to FNMA. It was no seizing private property for public use at all --- Sweeney will rule " HERA does NOT apply

And all the emails and memos from Treasury stating clearly that it is the policy to NEVER allow the stockholders to benefit ever from any profits in the GSEs. RIGHT!!!

3/ Government explain that because The Board of FNMA and the right of Shareholders were dismissed since FNMA was placed into C-Ship, FHFA was therefore guardian of the Company to oversee and decide on all operations on behalf of FNMA, including signing the sweep with Treasury ( refer to # 1 above for reasons of sweeping ) --- Sweeney will rule " The fiduciary duty is NOT breach ".

And FHFA did not ever coillude with Treasury to steal the entire company from the GET-GO. RIGHT!!!!

4/ Between 2 options, EITHER 1M Senior Preferreds + 10% interest OR 79.9% Common shares, Government now choose to exercise 79.9% Commons, then release FNMA --- Sweeney will rule " The bailout agreement is NOT breach ".

And the new info from the AIG Paulson testimony that the deal was structured to punish AIG when FnF got the exact same deal and they will only be able to admit the intent was to punish and not conserve. RIGHT!!!!!