Fannie Mae-No Politics (FNMA)

[Donotunderstand]

You folks are way beyond me in knowledge 0 memory 0 analysis

I do want to comment on the below

incorrect, if the NWS never happened all funds distributed to the treasury would be used to pay down the SPS,
...


Sorry but not so in the eyes of GAAP accountants and more importantly the TREASURY

the SPS - LP/Lt - never was a loan with interest

The SPS - if we like it or not - was an equity investment - with such security instrument being a (SR) preferred stock with a coupon of 10%

Accountants and again the TREASURY (in release after PR release) noted that all payments of the 10% were dividends and that none of that payment reduced the owed amount on the SPS investment by a penny

Think a regular JPS with a 10% coupond
Then the 10% is declared and paid - such action does not reduce PAR or the obligation of the company to redeem at date certain at full PAR

ON this I am 100% certain - dividend payments never reduce an obligation