Replies to post #632450 on Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

He added that there is another piece of legislation in Judge Lambert's court about the contractual rights of the preferred shareholders, which he described as the "big elephant in the room."

Nice to see Calabria say what I've been saying for months.

Interesting that he doesn't mention Commons. Maybe only JPS have Contract Rights as previously alluded to?

[camaro4me]

Pagliara's statement in ValueWalk article consistent with these dates


Sept 14 - Final Listening Session
Sept 28 - Finalize Capital Rule
Oct 16 - Relist on NYSE
Oct 30 - Settle Lawsuits?
Nov 6 - Amend PSPA
Nov 13 - Approve GSE capital plans
Dec 20 - Convert Pfds
Jan 11 - Release (under consent decree, depending on election outcome)

[RumplePigSkin]

Pagliara also noted that operating on a consent decree will allow Fannie Mae and Freddie Mac to build earnings on their balance sheets by retaining them instead of by issuing a bunch of new shares, which would be dilutive to shareholders. He believes Calabria has plenty of levers he can pull to adjust the capital rule before it's finalized.