Replies to post #730549 on Fannie Mae-No Politics (FNMA)

[Brooge warrants cancelled]

https://www.americanbanker.com/news/fhfa-to-launch-probe-of-federal-home-loan-banks-this-fall?utm_source=newsletter&utm_medium=email&utm_campaign=AB_BreakingNews%2B%27-%27%2B08312022&bt_ee=Z52SYJ6J5GuYU52p6YInILdNKxcHmKXX1v3A8B8%2FlQz7zSmTTAC4%2FN3bcbDYOSJF&bt_ts=1661970648695

[Hvp123]

Thanks Guido. If Lamberth allows those docs for jury’s eyes it will be game changer. Next 6 weeks will be very interesting to see how things move. First case for us to reach trial & that also jury trial.

[kthomp19]

First on Imbelish's list: Exhibit PX-0092 = Action Memorandum for Secretary Geithner

Interesting find, thanks for posting it. There's a quote in there I've been seeking for a while. It's at the bottom of page 5:

there is a general prohibition on waiving vested contract rights to receive funds owed to the government

This is almost certainly the reason that Treasury insisted on the increasing liquidation preference on the seniors for allowing FnF to retain earnings. More importantly, it reinforces my opinion that Treasury will never just write off the seniors for nothing in return. They legally cannot do so. The seniors are absolutely "vested contract rights to receive funds owed to the government".