Fannie Mae-No Politics (FNMA)

[955]

Keep in mind it is commons who ultimately retain ownership rights to the estate. Just not sure if or to what extent all that would factor in at this stage of the game.

Yes, Fannie Mae investors, there's magic in the air. Rhetoric is circulating that junior preferred shares are worthless after 10 years of suspended dividends that void all contract rights. HURRAY! Let's "fix" those greedy bastards, once and for all for polluting the FNMA conversation.

Now here's the unfortunate collateral damage from this "reasoning"... if this proves to be true, then all claims against the GOV that many hope will be settled following a Collins en banc ruling will be dismissed because all the plaintiffs are litigating JPS shareholders who would have no standing to assert damages. In any such case, all matters brought by JPS litigants against GOV are meritless, null and void.

Hurray?

OMG.