JPS claims sound in tort against the Government as opposed to the GSEs themselves. Therefore, any actions by the Government to satisfy their claims by diluting GSE ownership would add insult to injury giving rise to new 5th Amendment takings claims against the Government which is precisely why direct JPS claims were barred and why there will be no satisfaction of JPS claims by Government appointed BOD via restructuring of Capital. Common owners MUST be in the driver's seat when that happens which will happen later rather than sooner after GSEs are re-privatized under consent decree.
Of course the GSEs wrote the JPS terms to benefit the GSEs and that's what JPS holders bought. While JPS holders' claims sound in tort against the Government, many current JPS holders imagine remedies that require the GSEs pay for Government fouls as if the Government can make a right by adding another wrong to its party foul repertoire. The irony of JPS settlement logic says it's OK for the Government to continue stealing from the GSEs just so long as the Government gives the bounty to the JPS holders instead of keeping it for themselves meanwhile making the case that the Government theft was wrong to arrive at the settlement table in the first place.
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