Fannie Mae Preferred S (FNMAS)

[rosen62]

My interpretation of that paragraph is that it relates to the DTAs, specifically to the last sweep that is pending accountability. Government says "it hasn't happened yet, so no takings". So Epstein says that the whole point for the lawsuits is to stop "the transaction" before it takes place. Or risk having the government saying "too late to reverse" at a post-date.

Unbelievable the government states that they went for the sweep because they weren't sure Fannie and Freddie could pay 10% in dividends. More than anyone, they must have known what was coming (reversal of loss reserves, DTAs activation, recoveries, etc.). Heck, Bronte Capital, Gator and many others knew it years ahead!

Great read! Thank you.