I think you said it there in your comment. Dr mason worked on it and didn’t let it in. He wasn’t going to give anything more than pennies, even if Warren Buffett did work on it.
There aren't damages with the 3rd amendment NWS dividend. The 2nd UST backup inserted by HERA in the Charter Act, allows an unlimited rate and in an unlimited amount of purchases (December 2009 deadline skipped with the Securities Law violation of SPS increased) So, a NWS dividend is as legal as a 10% dividend. And also, both are illegal: -Restricted in the FHEFSSA's Restriction on Capital Distributions (dividends and today's SPS increased for free as compensation to UST) -Unavailable funds for distribution: a dividend is a distribution of earnings. They aren't interest payments. There weren't funds legally available for distribution out of a Retained Earnings account with deficit all along. The SPS dividends are cumulative, not "mandatory" as the corrupt lawyer for the FHFA states in court. That doesn't exist as financial concept. -A breach of the FHFA-C's Rehab power: restore FnF to a sound and solvent condition. Soundness is related to capital levels and Solvency the ability to pay the debt obligations (service the debt)
Therefore, FnF didn't repay the obligations with the taxpayer with the dividends. Instead of declaring them illegal and a do-over, we legalize every action, primarily because this id what they were thinking of as an exit strategy. What has happened is that what FnF sent to UST can't be called dividends, but capital distributions that we apply towards the exceptions to the Restriction on Capital Distributions (to reduce the SPS) and in July 20, 2011 (exactly the Time Limitation of the FHFA Acting Director DeMarco, to make sure all the coming actions were legal, like the NWS dividend applied for their recapitalization), the exceptions added in the CFR 1237.12, in time for the case once these SPS were fully repaid: for their recapitalization.
This is authorized in the FHFA-C's Incidental Power: "any action authorized by this section, in the best interests of FnF or FHFA". As the SCOTUS said, this is beneficial to the Agency: A bunch of lies to maintain the control over the enterprises and an attempt to make up for the losses of the JPS holders with an act of Congress: hedge funds and Community Banks. The SCOTUS didn't say where the funds that the UST received, can be applied towards, because that's reflected in "authorized by this section" that Justice Alito (and Sweeney) skipped. So, he stopped after stating that the funds received by UST are legal, which is what I'm advocating too, funds held in escrow. This is why the regiment of attorneys and social media influencers now want to return to the SCOTUS to declare a Takings that the SCOTUS already said there was none. It means that the Common Equity is held in escrow and will eventually be returned to their balance sheet, to be recorded as such in the ERCF tables. A Takings could be declared now, but with the adjusted figures that legalize every action. BVPS as of end of March 2023: $FNMA: $103 $FMCC: $153 This doesn't need to be backed up by Treasury documents confirming the existence of a Separate Account plan (presumably, currently in FBI's custody taken from Mar-a-Lago. So, keep them), documents that were required by Fairholme inadvertenly (question RFP 12) but later he withdrew the motion to compel compliance with the subpoena to UST to produce the documents in the Lamberth's court and we wonder how a party in a case can revoke a subpoena issued by a judge simply by withdrawing the motion to compel with it. It seems that judge Lamberth isn't interested to know the truth and he is more interested in giving the JPS holders back dividends. "They had expectations to receive dividends", the judge claimed in a Memorandum Opinion, despite that the 2011 Final Rule for "the transparancy of the conservatorships", the FHFA stated clearly that there won't be dividends until FnF become Adequately Capitalized again (Total Capital greater than the Risk-Based Capital requirement; compliance with the Minimum Leverage Capital level first, which is higher in FnF and a whopping $400 billion capital deficit; The threshold has to be increased with the Table 8: Payouts, of the Capital Rule: regulatory capital greater than 25% of the Prescribed Capital Buffers) The corrupt litigants cherry pick the 10% dividend in a negotiation with the DOJ to share the booty. The same reason why they don't challenge the Warrant and today's SPS increased for free, and also why they have made up damages where there are none, for which they request tiny damages with a crazy stance (a one-day share price drop at 6% rate, through today). There are damages, but those are punitive damages for 15 years of lies and the common stocks get a high sum for the simple fact that there are more stocks outstanding that JPS outstanding. Let alone that with their remedies, FnF don't recover even $1 of core capital ($29 billion cash refund), so today's $400 billion capital deficit over Minimum Leverage Capital requirement remains, tailored for stock offerings addressed to the hedge funds and investment banks. Also $-216 billion in their Retained Earnings accounts, that Fairholme's navy cmdr refuse to identify on their Balance Sheets over and over again. An account that is what absorbs future losses (the capital stocks don't absorb losses, they just offset a negative Retained Earnings account, so that the Net Worth remains with positive balance, avoiding bankruptcy. Watch my signature image to see the role of the SPS in early conservatorship, that made their NW be stuck at $0. The SPS were tapped upon capital deficiency only). This deficit in the Retained Earnings accounts isn't solved with stock offerings. This is why they gang covers it up, preteding that it doesn't exist. They later request that, in exchange, they would get a swap JPS for Cs at the same haircut as the SPS, Mnuchin said in Calabria's book. The litigants and company are Government snitches.
Quote: “Okay, give me an exact dollar damage fee as a result of the August 17, 2012 Net Worth Swipe, NOT BASED ON SPECULATION OR ASSUMPTIONS. Break it down further and tell me the exact dollar damages for Fannie Mae and Freddie Mac, then exactly how to split it between each individual class of JPS and then Common.” End of Quote.
Fannie Mae
JPS are due $19.1 billion (par value) and the common shares own the company.
Common Shareholders $207.24 per share Intrinsic Value.
Fannie Mae June 30, 2023
Fannie Mae Reports Net Income of $5.0 Billion for Second Quarter 2023
Earnings Power of the Business A multiple of 12 is not unreasonable
EARNINGS POWER OF THE BUSINESS
Fannie Mae’s common stock outstanding 1,158,087,567
$5.0 billion net income for the second quarter of 2023. Fannie Mae’s net earnings $5.0 billion per quarter, a projection of $20 billion net per year.
$20 billion net / 1,158,087,567 = $17.27 per share of earnings
Price to Earnings Ratio of 12 x $17.27 = $207.24 per share Intrinsic Value
Can do Freddie Mac when earnings are reported for the Second Quarter 2023.
Barron Quote:
“I posit that the variable liquidation preference outlined in the SPSPA and all amendments are an illegal commitment fee/charge attached to the purchase of the senior preferred shares. Prohibited by the Charter Act. The warrants are also a fee in consideration for access to the commitment. Prohibited by the Charter Act.
I posit that the senior preferred shares with their variable liquidation preference as outlined in the SPSPA constitute a new product for the purpose of the secondary mortgage market outlined in the charter act at sec 1719.
I posit that under the safety and soundness act as modified by HERA, the sale of SPS with a variable liquidation preference to Treasury under authority of sec 1719(g) of the Charter Act required notice in the federal register, opportunity for public comment, and official rule making by the plain language of the safety and soundness act.
I posit that the above statutory violations necessarily violate the warranties on behalf of the FHFA-C contained in the SPSPA.
301 Billion to be returned to the corporation. LP and warrants canceled. Future of 191 billion of taxpayer debt illegally given to corps to be determined.” End of Quote
Quote: “Okay, give me an exact dollar damage fee as a result of the August 17, 2012, Net Worth Swipe, NOT BASED ON SPECULATION OR ASSUMPTIONS. Break it down further and tell me the exact dollar damages for Fannie Mae and Freddie Mac, then exactly how to split it between each individual class of JPS and then Common.” End of Quote.
JPS are due $14.1 billion (par value) and the common shares own the company.
Common Shareholders $214.08 per share Intrinsic Value.
Freddie Mac June 30, 2023
Freddie Mac Reports Net Income of $2.9 Billion for Second Quarter 2023
Earnings Power of the Business A multiple of 12 is not unreasonable
EARNINGS POWER OF THE BUSINESS
Freddie Mac common stock outstanding 650,059,553
$2.9 billion net income for the second quarter of 2023. Freddie Mac net earnings $2.9 billion per quarter, a projection of $11.6 billion net per year.
$11.6 billion net / 650,059,553 = $17.84 per share of earnings
Price to Earnings Ratio of 12 x $17.84 = $214.08 per share Intrinsic Value
Barron Quote:
“I posit that the variable liquidation preference outlined in the SPSPA and all amendments are an illegal commitment fee/charge attached to the purchase of the senior preferred shares. Prohibited by the Charter Act. The warrants are also a fee in consideration for access to the commitment. Prohibited by the Charter Act.
I posit that the senior preferred shares with their variable liquidation preference as outlined in the SPSPA constitute a new product for the purpose of the secondary mortgage market outlined in the charter act at sec 1719.
I posit that under the safety and soundness act as modified by HERA, the sale of SPS with a variable liquidation preference to Treasury under authority of sec 1719(g) of the Charter Act required notice in the federal register, opportunity for public comment, and official rule making by the plain language of the safety and soundness act.
I posit that the above statutory violations necessarily violate the warranties on behalf of the FHFA-C contained in the SPSPA.
301 Billion to be returned to the corporation. LP and warrants canceled. Future of 191 billion of taxpayer debt illegally given to corps to be determined.” End of Quote
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