Fannie Mae Preferred S (FNMAS)

[5bagger]

Ugoletti's declaration states that the 3rd amendment never meant to increase compensation to the Treasury (his own words).

Rosen -

The wording is weird. But, what I think he said was they didn't think 3rd would increase... they *thought* the move would protect them from r-ship and benefit the enterprises in doing so.

Hmmm.

They were in danger of r-ship, so this move was good for GSEs.

Others have it right. He's playing dumb. Treasury and Conservator didn't know about the DTA coming into play, if it ever would, and what the amount would be.

Hmmm.

That is where the judge and any observer can poke holes. After a full year of positive earnings, they would have the option. Ift could be argued that they could have taken it for Dec YE 2012.

Aug. 17th to Dec. 31st ain't that long, and most companies are doing forecasting and planning by August 17th.

Here's what they need to do: DEPOSE THE AUDITORS

Depose the auditor and see if they lie, also.

Any finance person would know of the DTA. The CFO knew.

DEPOSE the CFOs

Ask them if they are aware of what a DTA is? Yes sir.
Are you aware that the DTA was removed in 2008? Yes sir.
Did you keep a running log during the years 2009-2012 to determine the accumulated losses? Yes sir.
Did you have on-going discussions with the auditor about when these could or would be used? Yes sir.

These would all be "Yes sirs"

Heck, this mangy group has been chanting DTA since 2008. It was the first brick to fall from the building, as everything crumbled from the misfired bazooka!