Friday, August 30, 2013 10:24:25 AM
The MSBs are backed by real loans. Those loans have value and will be owned by whomever is willing to underwrite them. They are not just going to be given away or whatever definition one considers when we hear of being "spun off". That's a politician word if there ever was one because it is so frigging ambiguous.
Whatever the outcome they can say it was all part of the plan.
So by owning the paper and buying the MSBs they can sell the paper and keep the MSBs that I'm sure they cherry picked from the lot.
Is it illegal? I'm not sure that part is but everything leading up to that part definitely is as they stoke the company from the other rightful shareholders with no compensation. Gotta be some barristers aboard here. Anyone?
I believe the answer to your question is like when a General partner in a LLC makes a purchase of a limited position in the same deal. He can sell the position as the General Partner and still maintain a limited position.
The difference is that in this case the gov can hold the MBSs for years after the sale of the companies and the paper and collect the yield on the select MBS.
This administration has some slick dicks guiding them and they should be very concerned when this goes to court. This isn't a slap on the wrist kind of thing. This is as real as f'd up gets.
$FNMA
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