Fannie Mae-No Politics (FNMA)

[Rodney5]

I believe you are correct; the LP includes the original or core value of the Senior Preferred Stock.

One other thing I did not include, if the LP is not enough to wipe-out the common shareholders the Treasury can exercise the warrants to finish them off. That is if the Treasury gets away with this theft.

Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise. So, the LP including the warrants are an illegal commitment fee.