Fannie Mae Preferred S (FNMAS)

[rosen62]

T. Olson and crew are key in terms of getting Jack Lew to replace the 3rd Amendment.

The way things have been set up it makes this almost impossible.

Not the only alternative but let's use this as an example: a deal where the DTAs are used to reduce the Srs. tally which may include going back to 10% will immediately lead to excess funds every Q which in normal accounting will recapitalize the companies. Recapitalization is in stark contrast to wind down. Any new amendment/replacement may continue to block recapitalization. Then, what good is to go back to the 10%? Will Treasury be willing to work on an amendment that has no strings attached? In the current environment? The way to save face will be being forced by court order.