Tuesday, May 28, 2024 7:23:45 AM
In this image, you see the step 1 (Net Worth increase = Net Income + OCI are Tier 1 Capital) and the step 2 (the effect of the SPS LP increased for free on the Net Worth). You want a step 3 to return to the step 1 (Retained Earnings is Tier 1 Capital).
Let alone all the statutory prohibitions, as a compensation with SPS is considered a capital distribution, restricted. Besides a breach of the FHFA-C's Rehab power, that refers to Rehabilitate FnF with the initial action, not a breach and then, years later try to rehabilitate FnF.
Your stance is beyond shenanigans.
Everything is unwound and the reality is that the FHFA used its Incidental Power for this joke: "Zing!".
Humiliating indeed.
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