Fannie Mae-No Politics (FNMA)

[Wise Man]

Of course! Bradford agrees with his buddy navycmdr.
Both JPS holders and the subordinates of the hedge fund managers Bill Ackman and Tim Pagliara, respectively, that peddle the Government theft story and cover up the Financial Statement fraud in FnF with their slogan:
Navy commodore yesterday:

as retained earnings continue

Bill Ackman: "FnF continue to build capital". The same repeated by Bradford in his SA articles.
The Retained Earnings in the quarter is wiped out with the offset (reduction of Retained Earnings) with the SPS LP increased for free in the same amount (without getting the corresponding cash, like occurred with the initial $1B SPS issued for free on day one), had it been recorded on the Balance Sheets, because it's absent (Financial Statement fraud) in order to avoid this offset.
We see below in Freddie Mac how the SPS LP remains stuck every quarter since September 2019 at $72,648 million, when the actual amount pointed out by the company in its earnings reports with the S.E.C., is $114,604 million as of June 30, 2023, that includes the amount scheduled to be increased on September 30, $2,890 million.
So, $41,957 million SPS LP absent from the Balance Sheet. $111B FnF together, which means that their current $111B Net Worth has been built exclusively with SPS LP and not with Retained Earnings.
Therefore, the Core Capital remains stuck at an adjusted $-194B together evey quarter and FnF don't build regulatory Capital but SPS LP.