Replies to post #560493 on Fannie Mae-No Politics (FNMA)

[bcde]

"it is imperative that the next sp amendment eliminate the concept of just pushing it back to the greedyment through "liquidation" pref..

its a big circle jerk..."

Agree, Some times MC presents himself as stupid .... But he has to navigate the waters infested with most vicious loan sharks from wall street. It looks like SM is playing hardball role from Merchant of Venice.

Anyway it will be one step ahead in progress pending Collins District court ruling. If Collins district court rules that NWS is unlawful, SPS liquidation pref. value does matter. UST gets only 10% dividend based on adjusted net value. So SPS values becomes 0 and UST owes money back to FnF.