Fannie Mae-No Politics (FNMA)

[The Man With No Name]

Just speculating, but I think Treasury wants a perpetual dividend in exchange for an explicit backstop agreement. And Treasury holds all the cards....if they don't agree to write down the liquidation preference then I doubt there would be much left in terms of value for JPS or Commons.....and the litigation can't be mooted....thus, no exit.

Any explicit backstop would require legislation.