Replies to post #776165 on Fannie Mae-No Politics (FNMA)

[DaJester]

"The offer was made to selected large shareholders, not to the public. Nobody cares what Joe Sixpack thinks with his three shares."

Then it wasn't an "offer" in the sense of an official ability to convert shares. It was a "proposal" to gauge interest and see if they had even a remote chance of getting a voting majority. Clearly that wasn't the case.

[Wise Man]

Mnuchin-Berkowitz were seated at the court bench when the offer of conversion of JPS to Common Stocks was made, in the retailer Sears case, when they were accused of syphoning undervalued assests off to themselves, which is also the accusation that I'm posting here, about the extortion of resources out of FnF, with the sale of NPL, RPL and REO inventory to a Goldman Sachs subsidiary and others.