Fannie Mae-No Politics (FNMA)

[FOFreddie]

Thanks Familymang - Calabria is not saying the Compromise of the SPSA Liquidation preference is illegal - he reported that the UST "claimed" it was illegal to do so. Same guys at UST that are claiming that the FHFA and UST actions alleged in Rop and Collins are Constitutional. It is just posturing during a period of outstanding litigation. There is no basis to state that the UST does not has the legal right to write down part or all of the SPSA Liquidation preference under CFR 902.2 - it is clear that the UST does based on several possible conditions. This is just a position claimed by some at UST which is consistent with the stance currently being taken in related outstanding current litigation by the UST legal team.

Makes sense now.