Replies to post #670744 on Fannie Mae-No Politics (FNMA)

[chessmaster315]

Rule of Law Guy's response to the solicitor generals letter to Scotus was on point, and good news for shareholders.

He discussed the issue of "backward relief", because of confiscation of dividends, mentioning the preferreds, but not lost dividends of the commons. Last I checked, both commons and preferreds lost 100 percent of their divies to taking of the nws.

Rule of law guys interpretation of Solicitor Generals letter is here:
https://ruleoflawguy.substack.com/p/about-that-odd-sg-letter?r=35rec&utm_campaign=post&utm_medium=web&utm_source=twitter

While I certainly agree "backward relief" for shareholders is indicated, the preferreds non cumulative status, that the preferreds knew and agreed to before buying shares (or should have known), suggests P's are prohibited from receiving "back dividends", at least, not at commons expense.
There is no prohibition from commons receiving "back dividends" if a BOARD of directors, (or scotus) so directs.