No Commitment Fee was ever assessed or collected. There is only what was called "Initial Commitment Fee" with the Warrant and the $1B SPS LP issued for free on day one. But I remind you that we are here to legalize every action, not to cry out loud or judge the intentions of Goldman Sachs or Citigroup alumnis, like Paulson, Lew or now, ST, because they are always to extort all the money they can from the enterprises. Like you said yesterday hysterically, like a drama queen:
Paulson wanted to kill the companies.
Just watching the Warrant clause 2.1: "shares assigned to any Person", you know he wanted the assault on the ownership of FnF by Wall Street and the Community Banks, paying nothing. Then, the plan switched to Cooperatives, chartering authority of FHFA, etc.
The Warrant was authorized as collateral, to (iii) protect the taxpayer. And about the initial $1B SPS LP for free, since the subsection (g) allows an infinite dividend rate on SPS, we can claim that it's a higher yield on the SPS, knowing that, like the 10% and NWS dividends, at some point it'll be unwound and the original UST backup of FnF at rates similar to Treasuries (subsection (c)) will prevail.
These SPS also dissapear because currently they are a breach of the conservator's Rehab power, since it reduced the Core Capital.
Once the Capital was generated (like Earnings for the Retained Earnings account), no one can touch it (no capital distribution). The conservator's Incidental Power and the FHFA's interests, is about activities and related to regulation, not to enrich the government.
Commitment Fees are non-existent. You seek to declare the SPSPA void at this moment of the movie. Sorry, no rebates.
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