Fannie Mae-No Politics (FNMA)

[Wise Man]

Bradford, calling the government officials "criminals" here

You are dealing with criminals here, and those criminals are in government

, isn't a good way to later pitch your case contending that the $301 billion sent to UST is gone

the companies were looted via NWS,

It's what you would like it to be, to later start proposing a conversion of SPS for Commons, which doesn't add to CET1, only the cancellation of SPS, just like the cancellation of the JPS, as the preferred stocks are debentures (obligations) and FnF would post a profit as a result.
Their CET1 stands at $-133 billion officially in their ERCF tables, but $-244 billion CET1 with the adjustment for the offset with the $111 billion SPS LP increased for free.
But then, you miss that it's not just having positive balance in the CET1, FnF have to meet the capital requirement that stands at $101 billion CET1. An adjusted $345 billion capital shortfall.
After CET1, FnF have to meet the Tier 1 capital requirement under the Basel framework, as seen in their ERCF tables. This is why a conversion JPS to Cs doesn't make sense and you are just attempting the assault on the ownership with your JPS.

This is the reason of increasing the SPS LP for free, for no reason. Now, people would claim that these gifted SPS are cancelled and boosts the CET1, when these gifted SPS should exist in the first place, as they are barred in the Restriction on Capital Distributions and the FHFA-C's Rehab power, just like the dividend payments.
There you are, the necessary haircut on the SPS so that the JPS mimic it, as Calabria told us in his book, about Mnuchin requiring that all the preferred stocks be treated equally:

He was willing to see Treasury's senior preferred shares given the same seniority as the existing junior preferred.

But everything is a big lie. Your premise contending that the government is filled with criminals is wrong, as these same officials made sure that they were upholding the law with every action. This is why DeMarco enacted the CFR 1237.12 on July 20, 2011, to pave the way for the moment when the SPS were fully repaid with the exception to the Restriction on Capital Distributions in the law, under the guise of dividend payments, because it added a new exception: assessments applied towards their Recapitalization outside their Balance Sheets.
This way, the assessments under the guise of dividend payments (Restricted and unavailable funds for distribution as earnings, out of an Accumulated Deficit Retained Earnings account) keeps on rolling (The Separate Account, like DeMarco and Sandra Thompson since 1989 with the FHLBanks)
July 20, 2011, the Time Limitation of the Acting Director. He wanted to make sure that this scheme is working in accordance with the law.

Finally, both the Supreme Court and judge Willett put the prerequisite on the 3rd amendment being valid, with the "rehabilitation of FnF". The Marxist-way was added by Justice Alito ("beneficial to the Agency and the public") for the extortion of their resources with the sale of loans to Goldman Sachs & Co, Neighborhood Associations, etc., but nothing else. It's not an authorization to break the law and then, attempt to unwind it years later playing with the stocks, like you do daily with the baseball cards trading with other kids in the park.

We don't need hippies in this message board, living the American dream under the hedge funds' payroll.