Fannie Mae-No Politics (FNMA)

[JOoa0ky]

Did you forget that there was a massive NWS?

FnF issued 33B of JPS.
FnF collected 33B in capital pre-conservatorship.
They now have 33B in cash but owe 33B in liabilities.

HOWEVER. NWS happened.
33B in cash swept away but 33B in liabilities remain.

There you go.

show us where JPS equity is a drain

sorry but that is counter to ACCOUNTING principals

issue bonds and collect cash - asset goes up (cash) and DEBT - LIABILITY goes up to match

issue JPS - and collect cash - asset goes up (cash0 and EQUITY - ownership goes up

Equity sits inside core capital