Fannie Mae-No Politics (FNMA)

[M I A]

I don't know about Pagman flipping and flopping, but in that tweet seems to be in line with what I'd be expecting at the least and what collins had originally asked for in scotus.

Which was:

Revert back to the original 10% and seniors would be deemed paid in full and the overage of $27+B returned to the companies.

In that scenario Jp would soon be getting par and commons would avoid any sp conversion dilution mumbo jumbo.

Jp would be top of stack.
No need or reasonable thought would suggest that absent the 3rd amendment would have excess money to pay dividends to anyone or to buyout jp at par. That would be speculation.

If FnF are undercapitalized and we still had sp outstanding at the time of the sweep then why if the sweep never took place would top priority be to pay jp par while still owing the govt sp + interest and the need to fully capitalize?

Even without NWS, FHFA would never have allowed such a thing. They would most likely have paid as fast as possible to square the govt and have moved on to recapping the gses as fast as possible. Why would the FHFA(GOVT) care to give dividends to Jp or common before debt settled and full recap?
Why would govt use funds for jp par buyout instead of sp debt and interest and FnF recap? The FHFA wouldn't.

They care to take their cut first.
2nd recap companies to safe and sound to protect taxpayer.
3rd would be cap raise for the rest.
4th return to market.
5th Jp and common start to make back on their investments.

Thinking otherwise makes little sense. Considering how selfish govt is, we shareholders would be an afterthought.
Not a priority at all.

That's my thought on the matter anyway.
Fhfa is on trial as well. And fhfa is the govt. And they made these decisions. So FHFA/ govt should pay overage and deem sp paid. That is where we would be.

JMO until Lamberth or some brave judge makes it FACT!