Replies to post #593960 on Fannie Mae-No Politics (FNMA)

[Fully Diluted]

Hi bcde,

unfortunately, yes, which is why I am of the opinion that the entire framework is an Unconscionable Contract, which obviously has the goal of destroying FnF and bleeding it dry with a 10% dividend that cannot be suspended. Consequently, the FHFA itself described this as a "death spiral" in court.

The FHFA used accounting tricks (DTA treatment etc.) to force the companies into bailouts that were so high that the 10% dividend then due was as high as FnF had never ever earned in one year before.
Unsealed documents prove that it was the goal of those responsible to destroy FnF and its shareholders.


GLTY :-D


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153993824

Prior to termination of the Commitment, and subject to any limitations which may be imposed by law and the provisions below, the Company may pay down the Liquidation Preference of all outstanding shares of the Senior Preferred Stock pro rata, at any time, out of funds legally available therefor, but only to the extent of (i) accrued and unpaid dividends previously added to the Liquidation Preference pursuant to Section 8 below and not repaid by any prior pay down of Liquidation Preference and (ii) Periodic Commitment Fees previously added to the Liquidation Preference pursuant to Section 8 below and not repaid by any prior pay down of Liquidation Preference.

https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/Stock-Cert/Third-Amend-FNM-Stock-Cert-as-amended_09-30-2019.pdf