Fannie Mae-No Politics (FNMA)

[DumbDumberDumbest]

1st Cumulative PFDs aren't accounted for in the Core Capital, under the definition of Core Capital in the FHEFSSA. Otherwise we would be Adequately Capitalized a long time ago with the Senior Preferred Stocks.
2nd.No profitable company raises Capital Reserve in one fell swoop. It must be done during good economic times, over a period of time, allocating funds into a Retained Earnings account.