Fannie Mae-No Politics (FNMA)

[Rodney5]

The prayer of relief Treasury declares Liquidation Preference paid in full and Senior Preferred Stock canceled. Turn the companies back to the Shareholders. $301 Billion has been collected by the Treasury. It’s the ethical thing to do. Therefore both common and JPS holders are made whole.

The Treasury’s Liquidation Preference increases dollar for dollar every time the company reports net income and none of the net income is applied toward paying down the SPS! SO WRONG! THE NET WORTH SWEEP never ended. The longer the Treasury continues to procrastinate on the release from conservatorship the LP of the Treasury grows larger and larger with not a dime towards paying off the SPS…

This calculates the Net Worth of the company is not enough to pay off the Treasury let alone pay the JPS and Common Shareholders.

And somehow the Treasury will gracefully take a so called haircut to preserve the JPS and wipeout the common??