"I concur that the preferreds were harmed by the Treasury's Net Worth Swindle. But their fight should be with the Treasury, not the commons. Judge Sweeney by accepting the derivative claims and rejecting the direct claims has laid out the road map for a resolution. This involves the Treasury returning the overpayments. $116 billion by my calculation; $124 billion by hers. Once the dividends are restored, preferred will automatically get around par."
This seems to be correct thinking.
Corporate FnF were the entities that were directly harmed by unlawful actions by Hank team and obama administration. FnF shareholders were indirectly harmed as a result of unlawful harm inflicted on FnF.
Judge Sweeney probably likes to reverse the unlawful harm inflicted on FnF so that indirect harm inflicted on shareholders also gets reversed. This also seems to be political correct way to go, since there will be no damages awarded to shareholders and also no windfalls.
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