Fannie Mae-No Politics (FNMA)

[Louie_Louie]

Exact-a-mundo Navy! The government is worried about the government 1st and foremost (often referred to as the taxpayer - lmao rof), GSE's and capitalization 2nd, everyone else last. Too many do not see this order of priority, aka pecking order. The government needs to do what's right to avoid further litigation, and if they want to have a strong housing market, then do what's right by the GSE's, which by extension means all shareholders.

The JPS pumpers here trying hard to get out of illiquid positions, I guess, probably trying to switch to commons! How? You may ask...it's simple, talk up the JPS as if it is the fulcrum (lmao) security and then bash commons. Notice, those holding commons are not selling here and also not bashing JPS, just pointing out they are in the same tub of shit as commons.

All the useless talk about liquidation prefference in Lamberths court is a non issue. Read the definition:
A liquidation preference is a clause in a contract that dictates the payout order in case of a corporate liquidation. Typically, the company's investors or preferred stockholders get their money back first, ahead of other kinds of stockholders or debtholders, in the event that the company must be liquidated

GSE'S ARE NOT BEING LIQUIDATED! how many times does that have to be repeated? Never going to happen. So JPS have their back dividend issue in Lamberth's court, they state contract claims. Ha-ha. Two big hurdles!
Non cumulative IS specified in those contracts, specifically for the purpose of protecting much needed capital when companies experience hard financial times, go figure..

SCOTUS: government (FHFA) can do what they want to protect the public. JPS don't think Lamberth will site this? I got news for ya...

Unless the JPS argue that it's a takings, doubtful they get any dividend back pay. Courts realize this would affect commons also, they're not stupid in that sense.

I am not Skeptic, lol but this will get pushed out if whatever cases in the pecking order are not resolved, and right now, no judge is doing their job! They keep playing musical chairs wanting some other court to decide something else before they decide, a whole "who's on first" fiasco to avoid culpability.