Saturday, December 17, 2022 10:10:16 AM
Dividends are a distribution of earnings and the Retained Earnings account of FnF, soon turned negative with the quarterly losses (FnF are the first Loss Position private capital). Today's Retained Earnings? $-122 billion. $-217 billion with the adjustment for the $94.7 billion SPS increased for free.
So, you can't distribute earnings out of an account with deficit.
Also, barred in the Table 8 Payouts, of the Capital Rule.
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