Fannie Mae-No Politics (FNMA)

[brandemarcus]

1. I don't claim anything about the sr pfd dividend. This is implied when it is called a sr pfd divdend. It's not the same thing as a fixed debt obligation. If it was debt you would be right, but the government chose to make the draw the same class of instrument as the jr pfd which dividends were also passed. I don't claim anything about the sr pfd dividend-I quoted from the 10k. Are you saying the 10k does not follow the law? Oh no-more litigation on the way!

2. Yank -I am not a legal expert like you are. I am not sure, however, that you understand accounting. If something is sr pfd, it's not that much different then jr pfd. It's lower in priority then something called debt. It may not be specified in Hera, because Hera doesn't represent a change in the accounting system of the country. Hera does not need to define what an obligation is- It's understood with out specifying that pfd stock is not the same as debt!

3. So if the government conducted a liquidation which left as little as 50 cents in assets in Fannie Mae, it would not be a liquidation until declared by the Fhfa. Is that your view? If a conservator of my assets gives away 75% to his friends, he is still conserving and preserving until he takes everything?

4. Banks, utilities, insurance companies are all regulated entities. Am I now put on notice by Lambreth, that if any of these entities become politically unpopular they can liquidated to $1 of assets without any judicial review?

5. When I think of legal issues such Roe vs Wade, Free Speech, eminent domain, Gun rights etc. -I think the legal battles are long and involved on whether a particular law is constitutional or not.