Replies to post #613223 on Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

Exceptional FNMA Facts! Considering our track record in the Courts so far, it's comical some still have such high hopes for Commons.

Commons are literally in No Man's Land. They have no seat at the table and the only Court claims that may benefit them are only for pre-Conservatorship holders.

They are riding the Jr. Preferred coattails and some of them still don't even realize it yet :-D

[kthomp19]

I cannot make sense of most of these “arguments” that a conversion is illegal etc.

Of course you can't, because they're nonsense. Common nonsense, if you will.

1. Calabria stands in shoes of BOD and commonholders

2. Calabria has no fiduciary duty to shareholders

3. So long as Calabria is pursuing soundness of FnF, then actions are not reviewable by courts

So, 1.-3. by themselves make clear Calabria can authorize a JPS to common conversion, as part of recap (hence aiding soundness) - and courts judge they cannot review this... so a lot of blather about suing Lol

Well and concisely put. The conversion will either happen before or concurrent with the capital raise, meaning that Calabria is in sole control as conservator, and your points follow from there.

Have people learned nothing as we trek through these court cases? Facts matter (and reading comprehension matters more)

Common nonsense and an allergy to the things you say matter go hand in hand.