Fannie Mae-No Politics (FNMA)

[Wise Man]

JPS are wiped out today with the current Balance Sheet, because their Net Worth is $118.4 billion, but there is $312.5 billion SPS outstanding, including the ones absent from the Balance Sheets.
And things don't get better every quarter because FnF are building SPS in their Net Worth, not regulatory capital, due to the offset when the SPS LP is increased for free in the same amount as the Net Worth increase in the quarter (Their $118.4 billion Net Worth is exactly the $118.4 billion SPS
(*) that are missing on the Balance Sheet. Financial Statement fraud)
(*) Fannie Mae has $1.1 billion more SPS increased for free than Net Worth, due to a prior accounting adjustment.
So, the JPS are worthless unless you join the Separate Account in accordance with the law, that gives you the full par value for your stock, but you don't care because you are here on a mission.
You just can't stop lying, can you.

in my view fnma has no intrinsic value because the spspa and fnmas is worth 25 when the companies are restructured.

You base your view on what Calabria wrote in his book, about what Mnuchin told him (typical scammers: not written in an official document that could face crippling liabilities), contending that all the preferred stocks would have the same seniority and then, all the shills pass it off as same haircut. This is why you pitch the idea that the JPS are worth par value, so the haircut is calculated over the par value. The reality is that the JPS are worthless. Then, calculate a haircut on that!
Sorry, but this is not how Finance works. The JPS are affected by the amount of SPS outstanding too.
You can make a mistake, but when you repeat the same lie after being rectified, you are a scammer attempting to rip off the shareholders and the S.E.C. must step in, because you can't simply express your views, it has to be backed up by financial concepts and the law.
Just like with the slogan of your gang: "FnF continue to build capital retaining earnings", after being explained a thousand times the concept of offset with the SPS LP increased for free, that wipes out the retained earnings just built, but just kept on posting the lie in all your SA articles and on Ihub.
FnF don't post this offset because they don't post these gifted SPS on their Balance Sheets, so only retained earnings shows up, as seen in this table of Freddie Mac.

You work for the hedge fund mangers Pagliara, Ackman, etc.
This is why you all hate the idea of a negotiator on the Fanniegate hashtag pitching the Separate Account plan with daily thoughtful financial analyses.
And, by the way, your master Pagliara was humiliated yesterday, always playing the fool with the Govt theft story: "SPS, non-repayable securities", like Timothy Howard in his amicus brief in the SCOTUS, when the reduction of SPS is an exception in the Restriction on Capital Distributions U.S. Code §4614(e), like dividends, which, besides restricted, they can't ever exist with accumulated deficit Retained Earnings accounts caused by past losses, as a dividend is a distribution of Earnings. So, you need to replenish the account in the first place.
Therefore, the 10% dividend (death spiral) and the NWS dividend (fastest speed) weren't actual dividends but assessments in the form of capital distributions under the guise of dividends. What lies behind is that the Common Equity is held in escrow, also complying with the FHFA-C's rehab power: "Put FnF in a sound and solvent condition". Another statutory provision covered up by the corrupt litigants in court.
The same with other restricted payment, the gifted SPS. More Common Equity held in escrow thanks to the offset mentioned before.
Guess what, the payment of Securities Litigation claims in the Lamberth court, is another capital distribution.............RESTRICTED. Unlike the others, this payment can't be considered part of a Separate Account plan because there is no way to recover it. It's an outright felony and submitting a proposed order of final judgement, scheduled for November 14, is considered an intent to commit a felony , and the FHFA can't be allowed to do it.

It's never too late for Pagliara to learn Finance: financial concepts of Capital distribution and dividend.
The FHFA-C's Incidental Power allows it to mislead/mess around(Separate Acct)respecting the financial rehabilitation(Justice Alito/judge Willett)#Fanniegate@TheJusticeDept https://t.co/IOD74Hmn1A pic.twitter.com/T6WmNURtjd

— Conservatives against Trump (@CarlosVignote) November 11, 2023