Fannie Mae (FNMA)

[bradford86]

the facts of the report remain, look at the proposed restructuring mechanics, understand that the only way to destroy the jps is receivership. understand they have retained $100B of net worth.

commons are destroyed.

preferred are going to face value.

you're just incoherently jumping to conclusions without actually studying the mechanics at play here.

god speed, but you seem like you just want to stand around and yell and not learn. my work here in a good faith attempt is complete.

i dont need to pray for anything... but if i was going to, it would be that you would be blessed by a more comprehensive understanding of the actual mechanics of this particular restructuring

note that generally what you say is true --- that when you do restructurings you calculate up the value and the most senior that takes a haircut --- all junior securities get zeroed out.

not so in this case. refer to the cbo report. it explains it all