Friday, July 07, 2023 9:20:07 AM
It appears no money changed hands from the Treasury to the balance sheet of the enterprises. As per conversation on this board.
I asked the question, with the replies posted below...
Rodney5
Re: None
Monday, April 17, 2023 9:10:47 PM
Post#
753028 of 759056
I have a question, when the SPSPA took place did any money change hands from the Treasury Department on to the balance sheet of the companies? Recorded in the amount of $1 billion?
Page 5
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-SPSPA_09-07-2008.pdf
Bryndon
04/17/23 9:34 PM
#753030 RE: Rodney5 #753028
I'm pretty sure it was a non-cash activity.
Fannie Mae's December 31, 2008 10-K:
https://www.sec.gov/Archives/edgar/data/310522/000095013309000487/w72716e10vk.htm#304
Guido2
04/17/23 10:42 PM
#753033 RE: Rodney5 #753028
Haven’t looked lately, but my recollection is Fannie and Freddie were charged $1 billion each commitment fee. Look at 2009 first payments made by the corporations to Treasury. It was $25 million each as quarterly dividends on $1 billion each. I didn’t see any money going from Treasury to the corporations till later.
Wise Man
04/18/23 2:08 AM
#753039 RE: Rodney5 #753028
15 years later, you wonder what $1B SPS was about, on day one of conservatorship.
Also, these SPS issued for free (all others, increased) are an essential evidence of the accounting fraud with today's SPS increased for free, because FnF, in 2008, posted a charge on the Additional Paid-In Capital account (shareholders' pocket) to reflect that they were securities issued for free.
Today, with the APIC exhausted, it's debited from the Retained Earnings account (Core Capital and Common Equity too).
But FnF now don't post the gifted SPS on the Balance Sheets, in order to don't post this offset and peddle the big lie of "FnF build capital".
Playing the fool is not an option, Mr. Pro Se, after 10 years messing around in the U.S. courts. It's called abuse of court process.
Can't wait to see the penalties.
Link: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171709055
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