If yes, was the profits converted to repayments to the debt from the government/ tax-payers?
Someone on the board previously said that Sallie Mae was formed a New Entity like De Marco Proposal for FNMA & FMCC.
Stocks of Sallie Mae were exchanged 1:1 to the New Entity. Within 10 years, stock jump from $1 to $60
I take it you mean Sallie was in C-Ship.
Then the question is: was the profits converted to repayments to the debt from the government/ tax-payers?
I think the question is important because we have yet to figure out if profits of FNMA are considered as dividends or repayments.
No one knows? I thought it's a very important question because of the reference value.