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Sunday, April 18, 2021 7:00:56 AM
RumplePigSkin (now deleted): "With all money from 2012 going forward returned to the GSEs, no capital raise is needed....The full NWS repayment is very much in play. Thompson is quoted as saying he is fine with a full unwinding of the NWS, meaning ~$124 billion returned."
Wrong. Thompson said in the Dec. 9, 2020 SCOTUS hearing that the overpayment is only $29.5 billion. You left out the 10% annual interest on SPS.
Things would look very different if the Collins plaintiffs were challenging HERA. But they only demand the cancellation of the 3rd Amendment, aka the NWS. So the 10% interest must be taken into account, which
Thompson has done (and you have not).
The $29.5 billion will most likely be paid as a tax credit. Therefore, a capital raise is necessary even if Collins plaintiffs win the APA lawsuit, which they probably will.
I'm not saying that's a fair solution, but it's the one the government is likely to impose - because it CAN. Even SCOTUS has only limited ability to undo past perversion of the law.
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