Fannie Mae-No Politics (FNMA)

[kthomp19]

Also, if SCOTUS determines shareholders are due a remedy, any attempt to put the GSEs into bankruptcy thereafter will immediately be recognized as an effort to subvert the ruling.

FnF are already in bankruptcy. They are trying to get out of it, and the only ways are either receivership (highly unlikely, in my opinion) or recapitalization (which is a form of restructuring, in which placement in the capital stack is of extreme importance).