Fannie Mae (FNMA)

[jeddiemack]

It says quite clearly in HERA that Watt can be fired for cause by the President. Reneging on a contract with the executive branch is MORE than enough cause.

Watt can't be fired. For "cause" really? That could be a lengthy discussion of what "cause" would be and it would legally revert back to his action as "conservator". His actions, as conservator, without bounds is not challengable. Thus he can't be fired. Sure they could try, but then it would be right back in court and they'd lose. Sorry. But you are incorrect.

This is just a lack of understanding as to how the SPSA and contracts work. The only way funds aren't payable is if two things happen: 1.) the funds aren't declared and 2.) the treasury LETS the funds not be declared.

This is you just not reading and understanding what is written in the amendment. It clearly indicates, "the dividend has to be declared" by the board of directors. You may not have ever worked in corporate america, but Boards of Directors declare dividends, once declared they become payable. Until declared they, unlike interest, are not owed. Treasury, as the investor has no control on the declaration of dividends.

I'd encourage the reading of the amendment. This is exactly, why or how Watt, could if he had the backbone, not pay the "dividend". Remember, its already been decided that as Conservator, Watt can do what ever he wants and his actions can not be challenged. This is the power treasury defended for him and this is the power that will be or could be used against them.