Fannie Mae-No Politics (FNMA)

[Wise Man]

According to Law,the liq pref of the SPS is $0.
The Capital distributions are restricted unless they are meant to reduce the obligations with respect to ownership interest, that is, the SPS (or JPS)
The recent SPS increased for free are illegal, as they reduce the Core Capital, which is what you omit repeating all day that FnF retain earnings. Those earnings are wiped out once the SPS for free are debited from the Retained Earnings account, currently Accounting Fraud and Financial Statement Fraud in their Earnings reports, because they aren't doing it or even accouting for these fee SPS on the balance sheets.
The coverup of the Law is a crime that carries a prison sentence of 5 years.