Replies to post #772092 on Fannie Mae-No Politics (FNMA)

[Wise Man]

The NWS dividend isn't a breach of "implied contract".
Besides restricted and unavailable earnings for distribution of dividends all along, commented before.
It's considered an assessment under the guise of dividend payment (so, under the guise of capital distribution), that we apply towards the exceptions to the Restriction on Capital Distributions to legalize it (reduce the SPS and Recapitalization outside their balance sheets). That is, the Common Equity is held in escrow.
It's an action that has to comply with the prerequisite of "rehabilitation of FnF", as stated by Justice Alito (rehabilitate FnF in a way that is in the best interests of FHFA (and the public), i.e., through the preps of a Housing Finance System revamp, new products, etc, or, stretching it, the Marxist-way in the process, for the extortion of their resources with good deals for the investment banks in the sale of NPL, RPL and REO inventory; for Neighborhood Associations, etc.. It's not an authorization to deplete Capital) and, in a prior ruling over this same case (5th Cir.), by judge Willett (any action "within the enumerated powers"). So, it seems that both were synchronized in the interpretation of the FHFA-C's Incidental Power. And this is also what "may" in the FHFA-C's Power is about.

The financial rehabilitation in a financial company is related to what is expressly written in the FHFA-C's Power: "Put (restore) FnF in a sound and solvent condition", that is, capital levels and the ability to meet the debt obligations (obligations SPS, included), respectively.
Today, FnF are in the worst financial condition ever: Adjusted core capital stuck at $-194 billion as of September 2019, $304 billion worth of SPS LP still outstanding and $-216 billion Retained Earnings account that will have to absorb future losses.
So, obviously, there is other side.
What judge Lamberth did, is to make up a phony damage (one-day share price drop on the 3rd amendment day) and later, grant interests on that damage because FnF didn't pay on that day, this amount owed to us.
Not only this is an attempt to get back dividends for the non-cumulative dividend JPS, but also a way to pay the bills of the corrupt attorneys in their conspiracy to rip off the shareholders.
The dividend was impeccably suspended.