Fannie Mae (FNMA)

[Achilles deFlandres]

And where do 100% of the profits go? As far as I can tell, the UST received P/E is infinite because they don't own a single share of circulating common. As far as I know, my received P/E is exactly zero.

After recap is met, will the sweep resume?
What will be the UST liquidation preference at that point?
Who will buy any JP offerings if all the profits go to seniors?
How will then, the traditional model of offering JPs to gain capital work?
If someone were to buy JPs, would the raised capital then be swept? (of course it would).

Who here can tell me how to separate a bureaucrat from their power?
Ending the conservatorship means ending a large amount of the bureaucrat's power.

I expect that part of the sealed information is the Obama administration making the GSE income a permanent source of revenue which is why the sweep has not ended. As such, executive action is necessary or (I think mistakenly as ST said congressional action)