Thread by @CarlosVignote

SECRET PLAN (THE LAW)
A $301B div (Core Capital) was used to repay the SPS and Recap, under the exceptions to the Restr on Capital Distr. SPS for free, a joke.
Unwound:
-SPS canceled
-$178B UST net refund
Both tax-exempt profit (C.C.)
-Warrant canceled.#Fanniegate @TheJusticeDept

Once FnF meet the threshold to resume the div payment,the cumulative div on the SPS repaid in 2013/2014, for FMCC/FNMA, resp.,is assessed 0%. Each "purchase" carried its own IRR. 0% due to the illegal collateral W (barred in Fee Limitation),security to (iii) protect the taxpayer.

UST hasn't purchased 1 security of FnF. It got the initial $1B SPS and Warrant for free and then,everything is INCREASED(fraud)
The initial gifts were illegal in the Charter +barred in the FHFA-C's power (C.C. reduction)
The W additionally credited to Additional Paid-In C.(fraud)

A rate on the SPS reduced to 0% from a rate that took into consideration the UST yields each time.
A 0% rate translates into a weighted avg -1.3% Net Interest Yield.
UST would've made +0.5% NIY (2.5%div;$400mll) had it made a one-time 5-yr $30B investment.

https://mobile.twitter.com/CarlosVignote/status/1513734979062312961

A one-time investment(2.5%div;UST yield=2%)highlights the low cost borrowing dynamics🆚JPS's 8.75%div. FnF would've been Adeq Capitalized➡️no need to swell the losses:
-DTA valuation allowance
-10%div
-Overstated provisions for loan losses.
JPS, born for the assault on ownership.

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