Fannie Mae-No Politics (FNMA)

[Wise Man]

The court system was a tool for 24/7 court news, required by the Hedge Funds, Private Equity firms and Investment Banks to,
First, peddle the government theft story, that is what has decimated the share prices,
Secondly, deprive the laws and the financial concepts of its meaning, or directly, cover them up, for the slogan "FHFA can do whatever the hell it wants", and everything boils down to a case of "Equity restructuring", also called "re-privatization".
Thirdly, transmit a sense of normalcy that conceals the Machiavellian terms during the conservatorships. The "everything is fine", "there is light at the end of the tunnel" or "a fresh start" initiated with Mnuchin's remark: "We've got to get them out of government control", referring to the conservator. Followed up by paid shills with "FnF continue to build capital through retained earnings", while posting $0 EPS every quarter like before, when it's precisely Retained Earnings the Net Income attributable to the common shareholders to calculate the EPS that shows $0.

Or even nowadays, thinking that everything is sorted out by simply asking for the SPS be cancelled (debt forgiveness), or a haircut and then a conversion to common stocks, so that the JPS mimic this swap with the same terms and conditions, as stated by Mnuchin according to Calabria in his book (no actual records exist because the goal is just to maintain the threat of dilution, for stock price manipulation)

Holy cow! Bradford, the self-proclaimed "Fanniegate hero" and his boss, Bill Ackman, are involved in every aspect of Fanniegate mentioned above.

The DOJ is compelled to take up the complaints on social media, by the retail investor, in a clear case of abuse of court process, where the retail investor's interests haven't been defended properly.
The key: the usage of formal documents and made publicly available by simply posting them online.

The truth they have so far revealed is that the court system is corrupt in favor of government fraud and deception. This is of course my opinion

We don't know whether they truly believe in a conversion Preferred to Common Stock, someone is bottom fishing the stocks or simply, the goal of the Chamber investors is to make the UST buy FnF on the cheap.
Likely, they are playing all the cards at the same time: "The Trump trade".

They didn't count with the fact that everything would be adjusted and the Common Equity as of end of December, 2023, is worth $244B ($134B in Fannie Mae; $110B in Freddie Mac), assessed:
Common Equity beginning balance on June 30, 2008.
+ Accumulated Comprehensive Income = Net Income (Retained Earnings account on the Balance Sheet) + OCI (AOCI on the Balance Sheet), adjusted for charges with 3 Accounting Standard changes during conservatorship.
+ CRT expenses/recoveries, net.
+ PLMBS lawsuit settlement, split 27%/73% (FNMA/FMCC) based on the AOCI (unrealized losses caused by the PLMBS) as of June 30, 2008.

For instance, this is the actual quarterly Comprehensive Income in Freddie Mac, adjusted for the charges with Accounting Standard changes, that has been accumulated for the Common Equity: