Replies to post #760227 on Fannie Mae-No Politics (FNMA)

[kthomp19]

Any reasonable person would say the loan has been paid back

Nope. There is and never has been any loan. The senior prefs are equity, not debt. That is not an opinion, it's a hard fact.

there is no reason to convert the SPSPA to common OR the JP's.

Wrong again. The seniors MUST be either converted to common or written down (or a combination of both) for FnF to hit their statutory capital requirements before 2040. That is not an opinion, it's a hard fact.

For as strongly as you and others hold that view - there are many more that disagree.

That doesn't make them right or me wrong. I have evidence to back my views up: laws, SEC filings, mathematics, all of which prove the statement about the seniors above. On the other side you have "the law proved me wrong therefore the laws don't matter".

Don't fall victim to the false equivalence fallacy by saying that since it's possible to disagree with me then I can't be right. Read the law, study the facts, use your brain.

[The Man With No Name]

That's where you and I diverge, Bubba. Any reasonable person would say the loan has been paid back and there is no reason to convert the SPSPA to common OR the JP's.

Any knowledgeable person understands the SPS aren't loans and understands that without a senior-to-common conversion, it will be decades before you can sniff a release.