Fannie Mae-No Politics (FNMA)

[Wise Man]

The Net Worth dividend was a Common Equity Sweep.
The Comprehensive Income is swept (Net Income + OCI).
Which are accumulated in the Accumulated Retained Earnings account and the AOCI, respectively.
Both accounts are Common Equity. It belongs exclusively to the common shareholders.
This is why the NWS dividend was a Common Equity Sweep. Just like today's NWS 2.0 (SPS LP increases in the same amount as the Comprehensive Income in the period or Net Worth increase. Then, on the Balance Sheet there is an offset that makes the SPS substitute the Common Equity in the Net Worth. Hence, the same Common Equity is swept as seen before. Although, due to ST's Financial Statement fraud, this effect is being concealed to peddle the lie: "FnF continue to build capital through Retained Earnings" by Bill Ackman, his clerk Bradford and the very Sandra Thompson in Congress).

The SPS only has a legal claim on its stated value (Liquidation Preference).

If you want to say that today's Net Worth is below the value of the SPS LP outstanding, say it, but don't mess around with what was swept to UST.

Guido/Pagliara, scheming all day! Sandra Thompson to the FDIC, etc.

When the government Net Worth Swept, it also swept out it's [sic] own equity out of the corporations.