Fannie Mae (FNMA)

[bradford86]

i dont expect a lamberth ruling to drive preferred conversion terms.

the fact is that preferred breach of contract claims are valid even after they do the 4th amendment to write down the liquidation preference and eliminate the sweep as well as the tax credits.

those breach of contract claims will need to be settled in order for the companies to raise capital? how do you settle them without paying preferred shareholders cash?

as treasury, you basically own 80% of the commons at that point, and you can set preferred conversion terms... that's how those claims get settled after the elections and before jan 20.. in order to facilitate consent decree.

review the acg updated timeline.

thanks. have fun

tldr you are confusing a ruling with a settlement.. settlements happen before rulings in order to avoid rulings.

in this case the settlement / ruling needs to happen before the companies can raise capital... and so you have competing deadlines with consent decree.