Fannie Mae-No Politics (FNMA)

[Wise Man]

TIMOTHY HOWARD IS A CONMAN. THE CAPITAL REQUIREMENTS HAVE NOTHING TO DO WITH THE CONSERVATORSHIP.
He belongs to the legal team that works for Berkowitz. It turns outs that with the remedies sought by the plaintiffs, FnF don't recover even $1 of core capital. So, today's $400 billion deficit of core capital over the total capital requirement, no matter how you change the capital rule because it won't be reduced to match the core capital, primarily because the core capital is negative today.

So, it's all about recovering the core capital sent to UST in the form of dividends (retained earnings is core capital) and other expenses, like the TCCA Fees, etc, and not the capital requirement.