Replies to post #686753 on Fannie Mae-No Politics (FNMA)

[Guido2]

Correct. Some claim that WaFed only benefit legacy holders. Not true. New shareholders won’t hold shares in corporations under a bogus conservatorship while legacy shareholders hold shares in free corporations. Same applies to SPS, LP, dividends, NWS and warrants.

[kthomp19]

You would do well to read Washington Federal's amended complaint in the USCFC. Pay particular attention to the Prayer for Relief (i.e. what the plaintiffs want) on page 82. They want only money damages, and only for shareholders of record as of September 5 2008. Nothing else. It is crystal clear.

The court WILL NOT void the conservatorships.
The court WILL NOT void the original SPSPAs.
The court WILL NOT void the senior preferred shares.
The court WILL NOT void the senior pref liquidation preference.
The court WILL NOT void the 10% dividend rate.
The court WILL NOT void the warrants.
The court WILL NOT void the NWS.

Washington Federal does not ask for any of these things! And even if they did, those claims would be dismissed because the USCFC doesn't have the ability to grant them anyway. A consequence is that "all other relief as this Court may deem just and appropriate" from the Prayer for Relief cannot include anything on that list.

Anyone who wants anything on that list to be overturned needs to file their own lawsuit to that effect, and in a different court than the USCFC. The fact they have not done so should speak volumes to you because, as always, inactions speak louder than words.

[Guido2]

Reading court filings are always a great idea. Some of them are quite long, but it helps to read the entire document rather than just the pages I or others point as interesting. However, I would direct you to Pg 79 of their first amended complaint, VIII CLAIMS FOR RELIEF. They challenge the entire conservatorship. The court cannot give pre-conservatorship shareholders 100% of their equity in the corporations and the later shareholders only 20.1% of their equity. Same applies to conservatorship for current shareholders, but no conservatorship for legacy shareholders. And so on.