Fannie Mae-No Politics (FNMA)

[Mnemonic]

Thank you for your insights and clear reasoning.

Another unrelated question:

Why is it generally accepted in the courts that the NWS did not constitute a purchase of new securities?

Seems to me that the NWS doesn't have much, if anything in common with the original contract. It pays a dividend, sure, but that dividend isn't even based on Treasury's share count. Couldn't this be construed as the purchase of new securities which would be barred by HERA since it took place after 2009?