Replies to post #13607 on Fannie Mae Preferred S (FNMAS)

[JosephS]

Agree. They knew the profits were going to continue to stay positive. They knew the DTA was in play. They waited till about 4 years after C-ship to change the rules??????

I call B.S.

Only reason to change the rules is to use it as a piggy bank.

The conservatives wanted to destroy it, the libs want to use it as a pawn for politics and funds coming to treasury.

Both were wrong how it was handled.

Now... If they would have done a full sweep to begin with, I would have never bought the stock.

They would have sued on 9-8-08 or soon thereafter for a taking with zero compensation.

This isn't Doc Brown and Marty McFly, though.

[5bagger]

"The Missing Paragraph" (Berkowitz) would explain it

Yep.

The depositions will prove what Epstein has said. Two options existed as conservator. R-ship or End C-ship. Saying that the companies were HEADED for r-ship effectively changed the interest rate from 10% to everything.

As Millstein points out, this flies in the face of insolvency laws, where ONE layer of creditor is granted something that excludes other classes. It's that simple.

I half-expect another short squeeze to ensue (on common) in the waning days of 2013. We shall see.

GL guys!