Fannie Mae-No Politics (FNMA)

[bcde]

"moelis never went away ... but who knows what final recap plan gonna look like? to my knowledge, only PUBLIC scenarios are those prepared by moelis and nomura. conversion, though (as thoroughly detailed by kthomp) was acknowledged by calabria, phillips, et al. as possible scenario. and don’t forget, moelis is/was hired by “non litigating pref shareholders “ so pretty good indication that some type of conversion is what it takes to settle."

The JPS conversion hypothesis solely hinges on the great hopium that JPS holers are entitled to some sort of damages from Gov and therefore Gov will throw in JPS conversion to appease the JPS holders. One needs get the clear hints from AIG ruling and Judge Sweeney's rulings.

Besides Gov involvement in any conversion or raising capital will only lead to more litigations and congressional investigations. Any damage payment to shareholders will be seen as burden on taxpayers considering that JPS holders acquired JPS for pennies of dollars.

No court will ever award any direct damages to shareholders.