Fannie Mae-No Politics (FNMA)

[FOFreddie]

Kthomp - you are entitled to your opinions with are well reasoned but many have opposing opinions. The issue will be decided by the 5th Circuit and SCOTUS if it wants to review the decision coming out of Collins.

You may be right that the SPSA is not voidable but it is just void - not sure what the right determination is for a Constitutional defect. It could be enforceable if the 5th allows it to stand

It would not be considered a contract outside of the Conservatorship because there was not consideration outside of the original liquidation preference of $ 1 bn each. If this was in Delaware Chancery Ct and US District Court there would be a class action for fraud and the SPSA would definitely be void.

Ano - is a great advocate for fairness and reasonableness. You are a great advocate for your position.