Fannie Mae-No Politics (FNMA)

[JosephS]

See, everything is made so complicated. It’s as simple as this.

Would any reasonable shareholder think that the government would take their property for nothing? That one part of the government would hand over 100% of the GSE’s profits into perpetuity? That the contracts you own are a claim on nothing?

That’s the question. Either they are valid and enforceable or the government can do anything to a private corporation and pay nothing.

As Richard Epstein said, if two private parties did what these government actors did….. They would face prison time.

Mario Ugoletti, too. Perjury after theft.

Especially in light of “the golden age of profitability” and Susan McFarland testified that she told the treasury department that 50 billion in deferred tax assets were coming back onto the books.(8 days before the sweep)

If common shareholders should not be expected to be wiped out, why would preferred? If preferred are not wiped and common are not, preferred are worth par.

There is no “debt”. What the government owns is equity like JPS. (Or you can call it “hybrid”).

Anyway, it’s like the light bill. You either owe it or you don’t.

Not a recco