Shameful attempt to distort the Separate Account plan by the rogue plaintiff Joshua Angel, with one of his 20+ aliases on this board.
- Is it "NWS" or NWS dividend?
- Is it "interests" or dividends?
- Is it "HERA" or the FHEFSSA?
- Is the exception to the Restriction on Capital Distribution in the law "a refinancing option", or it simply requires to raise cash in the same amount of SPS reduction, which was satisfied when the Common Equity was increased at the same time? By the way, the same scheme in the Federal Reserve with their fraudulent Deferred Asset that substitutes the SPS: it's reduced as the Retained Earnings increases, so the remittances to Treasury can resume. What FnF have done with the SPS under the Separate Account plan (watch my signature image below with Freddie Mac)
In the end, what the gang attempts is what the controversial Bryndon Fisher already pointed out: "What if the NWS dividend hadn't existed?", as a way to pitch the payment of a 10% dividend. He still doesn't get that it's restricted too and the same breach of the FHFA-C's Rehab power, when rehab means to build regulatory capital in this world (soundness).
The NWS dividend existed, and you can't undo what's already been done.
The reality is that no actual dividend was ever paid to Treasury, with unavailable earnings for distribution as dividend, out of an Accumulated Deficit Retained Earnings account, and a capital distribution restricted. The exceptions in the law/CFR kicked off.
They were assessments sent to Treasury, misleading about it under the FHFA's Incidental Power: "Zing!".
Similar to the FHLB's Separate Account in 1989 by law, because now it's been extended for the Recapitalization.
Likewise, the paid shills yesterday with: "What if HERA hadn't existed?"
It's been an exceptional exercise of rulemaking to commit fraud with the enterprises and their Equity holders.
2008 HERA isn't to blame when it's been active rulemaking to the same end, with the July 20, 2011 CFR 1237.12 by DeMarco, that enabled the continuation of the Separate Account with capital distributions (deplete capital) for their Recapitalization (build capital), for the moment that the prior exception in the law, repaid the SPS in full.
And Trump and Mel Watt actively seeking all that is prohibited as well, to continue the plan of deception: the dividends stopped. Instead, SPS increased for free, which is the same. Another capital distribution number (1): a compensation with stocks, other than stock dividends. RESTRICTED. Then, another way to hold the Common Equity in escrow to legalize this payment.
Playing the fool is an aggravating circumstance when assessing the penalties for Punitive damages: "Mandatory dividends"; The almighty and omnipresent attorney David Thompson: "I'm not a securities lawyer"; "Sep-p-p...Separate whaa?"; "Interests"; "HERA"; Etc.
All comes down to Regulatory Risk and stock valuation.
Non-negotiable.
