Replies to post #363075 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

That would be an amendment to and provision within a law and not a distinct law. As can be readily seen, Corker's proposed bill's wording found its way into the spending act.

That amendment is found in Sec. 702. Limitations on sale of preferred stock of the H.R. 2029: Consolidated Appropriations Act, 2016 (also known as the omnibus spending bill).

See: https://www.govtrack.us/congress/bills/114/hr2029/text
http://docs.house.gov/billsthisweek/20151214/CPRT-114-HPRT-RU00-SAHR2029-AMNT1final.pdf

The limitation is set to January 1, 2018. However, this is related to the disposal in various ways of the senior preferred stock held by the Treasury. The amendment does not relate to the disposition of SPSPAs, the provisions of the SPSPAs or the value of the Senior Preferred Stock that may be determined by future court decisions. The amendment can be conditioned by federal and appeal court decisions.

Stockanalyze's original question had to do with Treasury's power to declare the SPSPAs null and void per Miscellaneous 6.12 in the SPSPAs. This amendment does not prevent Treasury from exercising its contractual right regarding the disposition of the SPSPAs.

6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral
to the whole and shall not be severable from the remainder of the Agreement. In the event
that any provision of this Agreement, the Senior Preferred Stock or the Warrant is determined to
be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator
and Seller, declare this Agreement null and void, whereupon all transfers hereunder (including
the issuance of the Senior Preferred Stock and the Warrant and any funding of the Commitment)
shall be rescinded and unwound and all obligations of the parties (other than to effectuate
such rescission and unwind) shall immediately and automatically terminate.

https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-9-26_SPSPA_FannieMae_RestatedAgreement_N508.pdf

[Donotunderstand]

sounds very familiar

although I did not know that prior attempts by Corker did not get to same place by passing

the "restriction" had been discussed on this board as fact for months