Thanks...you just shot my whole theory of "how we get them out of gov't control" down LOL My assumption, and yes I do know what that is, was that Mnuchin could use the "they have paid the original agreement plus taxpayers made a fair interest" public statement, either a 4th amendment or show that the senior shares have been "paid" after Jumpstart is over (1/1/2018), Let FnF keep the last 2 qtrs payments for recap and instruct Watt to further recap until an agreed amount is retained ( smaller than moelis as the stress tests just showed). This will make commons happier and prferreds get close to par. GSEs are "out of gov't control" but with FHFA still as a regulator. Not sure what this means for lawsuits although I don't know how those end unless this is all part of a settlement? So how do you see this playing out other than eventually, hopefully winning a court case?
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