Thanks, if the federal government truly wants private capital to be in a 1st Loss Position, they will have to restore the damages they inflicted on the private capital shareholders! I just read this and thought you would enjoy reading it: "10. The rights that were expropriated by the Government through the Net
Worth Sweep belonged to real people who made real investments into Fannie and Freddie. For
years, Fannie and Freddie were able to fulfill their public mission because of investments made
by private citizens—often very ordinary citizens who invested their life savings, or small
institutions who were told by their regulators to invest in these entities. These private
investments were made not only in good times but also when the Companies faced financial
distress in 2007."
"Treasury still
would have gotten most of the $125 billion in excess value. But Treasury wanted absolutely all
of it, and did not want private shareholders to receive anything, no matter how profitable the
Companies might become. That is what motivated the Net Worth Sweep."
Power corrupts absolutely!
He's a regular Joe: "15. Plaintiff Joseph Cacciapalle is a citizen of the state of New Jersey, and is a
holder of Fannie Mae 8.25% Series S Preferred Stock, Fannie Mae 8.25% Series T Preferred
Stock, and Freddie Mac 8.375% Series Z Preferred Stock. Mr. Cacciapalle purchased Fannie
Mae Preferred Stock in January 2008, purchased Freddie Mac Preferred Stock in February 2008,
and has been a holder of Fannie Mae Stock and Freddie Mac Preferred Stock continuously since
then. He is recently retired, and purchased these securities to be a source of stable income in his
retirement."
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