Replies to post #787820 on Fannie Mae-No Politics (FNMA)

[Guido2]

I believe it's from the CBO report. Far as I know, they and Glenn's group are the only ones keeping track of the fantasy that the SPS haven't been paid off.

[kthomp19]

It seems significant that the UST has taken a haircut on the SPS in this report.

Treasury has recorded the senior prefs' Fair Value as being less than full liquidation preference for a long time. This page on Treasury's website has the current Financial Report, and you can scroll to the bottom and click on Previous Reports to see them going back to 1975.

There has to be a basis for the "compromise of debts" in the CFR and this is a rational basis.

The senior prefs are equity, not debt. Apples and oranges.