Fannie Mae-No Politics (FNMA)

[Wise Man]

Don't you see that you are again outlining a scenario where the Conservatorship doesn't exist all along?
You are talking about what is said in the offering circulars issued prior-conservatorship.
The dividend payments were suspended on day 1 of Conservatorship, thus the obligation to declare dividend favorable or unfavorable is moot. They just declare the dividend for the Treasury. The amount remainder for the other equity holders is zero.
Also you don't understand what HERA's succession of powers provision means. It's exactly for court matters.
A waste of money in litigation. The reason why the judge allowed Oral Arguments, after a laughter, is because he received a phone call by the DOJ stating that The Secret Plan will be announced in early March, so they allow the lawsuit to proceed in order to maintain the expectation of a settlement and don't disrupt the market if the JPS holders perceive that all the lawsuits (but WaFd's) are a joke.