Fannie Mae-No Politics (FNMA)

[JosephS]

Yup. If the preferred and equity holders knew the risks, the debtholders did as well.

In receivership, it goes by the judges orders. The debt may/can/normally gets dinged.

I made this point many times. The ONLY way to cxl the shares is:

1. Act of congress. Then takings claims may transpire.
2. Receivership


The debt should trade lower. The risk is not zero that they do this. A clawback can happen, too....