Good Morning/Afternoon LuLeVan, You may be right about the 4th Amendment but you are assuming that the JB and/or a potential DJT Admin will do nothing while we wait for the stealth NWS to kick in. It is reasonable to assume that DJT will monetize the UST equity stake during a new DJT Term because that is what he said he would do in the Senator Rand Paul Letter.
Regarding an Admin Action by the JB Admin - it is now crunch time - need a new ERCF and most likely a new housing program announced at the SOTU in early Feb. ERCF next?
In other words - investors would be reasonable in ignoring your 4th Amendment analysis because the effect of your analysis is so far in the future it is immaterial to the current stock price and would be voided by any Admin or Congressional action before the capital thresholds in the 4th Amendment are reached.
Happy New Year!
May common and JPS shareholders be treated fairly by the USG in 2024!
Seems the below suggests - GOV infused some cash ?? and then F and F did not have the cash ?? to pay 10% dividend on the initial infusion so they USED more SP $$ ?
My sense -- long ago !! -- was FNMA had cash and in most quarters profit !! --- but had been beat up by 100s of Billions of dollar value (equity) via the decreased value of the bonds - of all types - they owned. If my understanding is correct - F and F did not have any need to borrow or take any money from GOV beyond some initial infusion done to GET THE Balance Sheet even !! but not for cash or earnings purposes?
Huh? Where am I wrong - or did I misunderstand your post
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