Replies to post #749824 on Fannie Mae-No Politics (FNMA)

[Rodney5]

FHFA and Treasury ripped up the old agreement, and substituted in its place a new deal that created a “net worth sweep” whereby all of the funds received by the GSEs were paid over to Treasury as a dividend, even in amounts far in excess of the original 10 percent dividend. The consequences have been huge. Without the Third Amendment, all the senior-preferred stock would have been redeemed. With the Third Amendment, over $301 billion was sent to the Treasury.

Man With No Name said, Quote: “The "optional pay down" was only optional if certain conditions were met...and they never were.” Wrong

More than enough money was sent to the Treasury to pay down the LP and cancel the SPS. It is called Stealing! The FHFA is allowing the Treasury to steal the companies from the shareholders. I know it, you know it and everyone else that has studied the evidence knows it.