Replies to post #760196 on Fannie Mae-No Politics (FNMA)

[kthomp19]

while SCOTUS overturned Collins it may have indicated that it would deem the SPS Void as a remedy for a Separation of Powers violation.

Where did the Supreme Court say this?

The Collins plaintiffs have asked for the liquidation preference to be voided as one of their requested remedies, but they are perfectly okay with their alternate remedy of the seniors being converted to commons.

"In my view the proper remedy for a (removal separation of powers Constitutional violation) is to vacate the Third Amendment. I respectively dissent form the court's decision to instead grant a prospective remedy. "

Vacating the NWS would not void the senior preferred shares. All it would do is:

1) Revert the liquidation preference to $187B, where it stood the day before the NWS
2) Undo the September 2019 and January 2021 letter agreements with respect to dividends
3) Have FnF pay $4.675B per quarter ($18.7B per year) in cash to Treasury going forward
4) Have Treasury pay FnF around $55B in cash ($125B extra Treasury got from the NWS compared to if it had never happened, minus 15 quarters of $4.675B payments FnF didn't actually make from September 2019 to now)

[Donotunderstand]

was this the EN BANC?

confused as i thought "we won"

but 7 judges wanted more pain for GOV ?

context appreciated

thank you

[Donotunderstand]

overall
given a 9-0 insane SCOTUS decision - I do not think we know who votes how by party or POTUS that appointed
I have never seen this as an R or D issue

AT extreme - R would kill F and F for the TBTF banks - but that is 10%
AT extreme - D would try and find some way to nationalize without us - but that is 10%

How the other 80% think - I have no idea