Replies to post #776095 on Fannie Mae-No Politics (FNMA)

[LuLeVan]

The problem with many (counter) arguments here is that they are based on older contracts or agreements, but overlook the fact that these can be amended by new Letter Agreements between Treasury and FHFA (if both agree) to reflect the circumstances and needs of the time. So the whole thing is in flux. There is no point in being legally stuck in the 1980s.

Also, JPS cannot be converted to commons by contract. You can find it explicitly printed there. However, they can - if 2/3 of JPS holders agree to such a conversion. So anyone who searches the old contracts and finds some "proofs" there is not revealing eternal truths.

Nevertheless, the JPS holders remain contractually protected because changes to the contracts can only be enforced with a 2/3 majority. If the majority finds these changes disadvantageous, nothing will be changed.

[Donotunderstand]

sort of maybe

to speak with certainty about F and F and the TAKING conservatorship that has lasted 15 years and been amended and blessed by SCOTUS is not - IMO - particularly convincing or logical

there is no "the SPS have to be converted" --- the GOV could write them down to near zero - say 1B - and then use the WTS to gain a new 100B with 4B new shares they sell over time at $25 a share ---- all IMO available as Executive discretion