Fannie Mae-No Politics (FNMA)

[LuLeVan]

While I certainly agree "backward relief" for shareholders is indicated, the preferreds' non cumulative status [implies that they] are prohibited from receiving "back dividends", at least, not at commons expense. There is no prohibition from commons receiving "back dividends" if a BOARD of directors, (or scotus) so directs.

Because FnF are lacking capital - that's the reason why a capital raise is indispensable/TINA - there are no hidden coffers full of money waiting to be distributed to (any kind of) shareholders.

The NWS money funneled to the government is already spent down to the last cent.

Raising capital to pay out dividends would be a contradiction in itself, at least for the common stock holders.