Fannie Mae-No Politics (FNMA)

[kthomp19]

if they try instant injunctions

By the time they "try" it will be too late to undo the dilution.

HERA has a specific anti-injunction clause anyway, the infamous 4617(f). The Supreme Court used it to uphold the NWS. They said the NWS was a valid act of a conservator; offering a conversion to common to one or both of Treasury and junior pref shareholders is certainly valid too.

The loan was repaid 10-fold and it’s black and white

There was no loan. The senior prefs are equity, not debt.