Fannie Mae-No Politics (FNMA)

[5bagger]

Conservatorship is mentioned 395 times in this document

https://ypfsresourcelibrary.blob.core.windows.net/fcic/YPFS/FannieMae_10-k_0.pdf

As has been pointed out many times, point #1 - where UST holds all the cards and FHFA is the lackey, that private party actors would never be able to effect a "NWS" (i.e. unprecedented per Hamish).

• the senior preferred stock ranks senior to the common stock and all other series of preferred stock as to both dividends and distributions upon
dissolution, liquidation or winding up of the company;

• the senior preferred stock purchase agreement prohibits the payment of dividends on common or preferred stock (other than the senior preferred
stock) without the prior written consent of Treasury; and

• the warrant provides Treasury with the right to purchase shares of our common stock equal to up to 79.9% of the total number of shares of our
common stock outstanding on a fully diluted basis on the date of exercise for a nominal price, thereby substantially diluting the ownership in Fannie
Mae of our common shareholders at the time of exercise. Until Treasury exercises its rights under the warrant or its right to exercise the warrant
expires on September 7, 2028 without having been exercised, the holders of our common stock continue to have the risk that, as a group, they will
own no more than 20.1% of the total voting power of the company. Under our charter, bylaws and applicable law, 20.1% is insufficient to control the
outcome of any vote that is presented to the common shareholders. Accordingly, existing common shareholders have no assurarance that, as a group,
they will be able to control the election of our directors or the outcome of any other vote after the conservatorship ends.