Fannie Mae-No Politics (FNMA)

[imtheshadow]

Re Delaware case, let's say that the gov't was greedy and corrupt and wanted to totally defraud all other shareholders (only hypothetically speaking, of course), why wouldn't the gov't just issue a 4th amendment that gives a pittance of a dividend to junior preferred and common thereby technically satisfying Delaware and Virginia law on dividend preferences? Sure, such a change would be an obvious abuse of the law, but how could the courts determine what was or was not an appropriate dividend split (as long as there was one)? I'm long and don't mean to be pessimistic, just pretending to think like a greedy and corrupt gov't lawyer (again, hypothetically speaking, of course ...)