Friday, October 14, 2022 9:36:22 PM
The “Housing and Economic Recovery Act of 2008”, signed by George Bush, gives Treasury and FHFA total control of the Enterprises, including “Capital Structure”. Treasury and FHFA can change the Capital structure in any way they want, but they must have a reason to do so, such as a court case. Treasury will never pay out cash, they will use the Capital structure to make a deal such as the following;
Settle the JPS lawsuits - $50 billion settlement by converting JPS to common at $5.00 per share, 10 Billion shares
Treasury converts SP and warrants and agrees to release from FHFA as a Conservator into stock 20 Billion shares.
Treasury announces the plan for going public once again, sell 30 billion shares to the public at $5 per share.
Total outstanding shares 61,808. Valuation at $5 per share $300 Billion
FHFA now has $100 billion in stock
Old common stills owns 1.9% of the company worth $9 billion, currently worth under $1 billion.
Everyone is happy
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