Replies to post #732677 on Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Oh yes, J. Margaret Sweeney called it the offer to the GSES Boards that, "they couldn't refuse"! And instead of preserve and conserve their wards assets, Uncle Suggy takes them for himself with the bizarre Net Worth Swipe! Nice job Uncle Suggy, Nice job!

Uncle Vladimir and Chavez would be proud! But go ahead and keep arguing to the federal judiciary that the Boards consented and the NWS was necessary because of the Death Spiral.

The Judges can look the other way, right?

[Hvp123]

3 days of the week gone still nothing on Lamberth’s calendar for our pre trial conf, seems like they are cooking something imo, do you also smell something delicious being made for us? ;)

[955]

Why is Pagliara jumping ship??? Surely he knows what transpired.

[Wise Man]

That's FALSE. It was met the option

(G) LOSSES: The regulated entity has incurred or is likely to incur losses that will deplete all or substantially all of its capital,....

Also, (I) CONSENT.
We see that (G) LOSSES, relates also to future losses. The corrupt litigants omit this point. The losses existed. Huh?
Other theme is that you can challenge in court the losses or capital reduction prompted by the $2B SPS issued for free on day one or the 10% dividend, but there are other massive losses that we just can complain, but they are legal:
- The Charter-unauthorized PLMBSs' mark-to-market valuation directly reduces the Net Worth (AOCI), and later we learned about allegations of mispricing of these securities by the hedge funds. The same hedge funds that hold JPSs and now are calling for a conversion JPS to Common Stock, for the assault on the ownership.
-The provision for loan losses was ballooned for two reasons:
1-The Incurred Loss accounting standard in modified loans, compelled fnf to set aside a provision for a fake loss. Solved in 2020 with the CECL accounting standard. Everybody was pushed to ask for a loan modification, even if they were current on their mortgage payments. Even they used FnF to advance payments to the banks under TARP (Obama's HAMP)
2-Based on the management and BOD's assessments about the future. We can only say that they were wrong, but it's legal. After 2012, we've only seen release of this provision (benefit)
-The Deferred Tax Asset valuation allowance.

Conservatorship is a legal status and it was legally imposed.

Our economic damage relates to the Secret Plan (all their Retained Earnings are held in escrow. Now, with the NWS 2.0) that has prevented the stocks from trading at their fair value all along.
For instance, the JPS should have reached the par value in the 2Q 2021 in fannie mae and 3Q 2021 in freddie mac, under the law, once the secret plan is unwound and they met the threshold to resume the dividend payments.

With this economic damage redressed, we shall begin talking about a compensation for moral and punitive damages.