Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2012

Equity [Abstract]

Preferred Stock [Table Text Block]

Preferred Stock

The following table displays our senior preferred stock and preferred stock outstanding as of December 31, 2012 and 2011.

		Issued and Outstanding as of December 31,												Annual Dividend Rate as of December 31, 2012
		2012				2011				Stated Value per Share
Title	Issue Date	Shares		Amount		Shares		Amount								Redeemable on or After
(Dollars and shares in millions, except per share amounts)
Senior Preferred Stock
Series 2008-2	September 8, 2008		1	$	117,149		1	$	112,578		$	117,149	(1)	10.000	%(2)	N/A	(3)
Total			1	$	117,149		1	$	112,578
Preferred Stock
Series D	September 30, 1998		3	$	150		3	$	150		$	50		5.250	%	September 30, 1999
Series E	April 15, 1999		3	150			3	150			50			5.100		April 15, 2004
Series F	March 20, 2000		14	690			14	690			50			0.230	(4)	March 31, 2002	(5)
Series G	August 8, 2000		6	288			6	288			50			0.080	(6)	September 30, 2002	(5)
Series H	April 6, 2001		8	400			8	400			50			5.810		April 6, 2006
Series I	October 28, 2002		6	300			6	300			50			5.375		October 28, 2007
Series L	April 29, 2003		7	345			7	345			50			5.125		April 29, 2008
Series M	June 10, 2003		9	460			9	460			50			4.750		June 10, 2008
Series N	September 25, 2003		5	225			5	225			50			5.500		September 25, 2008
Series O	December 30, 2004		50	2,500			50	2,500			50			7.000	(7)	December 31, 2007
Convertible Series 2004-I(8)	December 30, 2004		—	2,492			—	2,492			100,000			5.375		January 5, 2008
Series P	September 28, 2007		40	1,000			40	1,000			25			4.500	(9)	September 30, 2012
Series Q	October 4, 2007		15	375			15	375			25			6.750		September 30, 2010
Series R(10)	November 21, 2007		21	530			21	530			25			7.625		November 21, 2012
Series S	December 11, 2007		280	7,000			280	7,000			25			7.750	(11)	December 31, 2010	(12)
Series T(13)	May 19, 2008		89	2,225			89	2,225			25			8.250		May 20, 2013
Total			556	$	19,130		556	$	19,130

__________

⁽¹⁾  Initial Stated Value per share was $1,000. Based on our draws of funds under the Senior Preferred Stock Variable Liquidation Preference agreement with Treasury, the Stated Value per share on December 31, 2012 was $117,149.

⁽²⁾  Rate effective September 9, 2008 through December 31, 2012.

⁽³⁾  Any liquidation preference of our senior preferred stock in excess of $1.0 billion may be repaid through an issuance of common or preferred stock. The initial $1.0 billion liquidation preference may be repaid only in conjunction with termination of the senior preferred stock purchase agreement. The provisions for termination under the senior preferred stock purchase agreement are very restrictive and cannot occur while we are in conservatorship.

⁽⁴⁾  Rate effective March 31, 2012. Variable dividend rate resets every two years at a per annum rate equal to the two-year Maturity U.S. Treasury Rate (“CMT”) minus 0.16% with a cap of 11% per year. As of December 31, 2012, the annual dividend rate was 0.23%.

⁽⁵⁾  Represents initial call date. Redeemable every two years thereafter.

⁽⁶⁾  Rate effective September 30, 2012. Variable dividend rate resets every two years at a per annum rate equal to the two-year CMT rate minus 0.18% with a cap of 11% per year. As of December 31, 2012, the annual dividend rate was 0.08%.

⁽⁷⁾  Rate effective December 31, 2012. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 7.00% or 10-year CMT rate plus 2.375%. As of December 31, 2012, the annual dividend rate was 7.00%.

⁽⁸⁾  Issued and outstanding shares were 24,922 as of December 31, 2012 and 2011, respectively.

⁽⁹⁾  Rate effective December 31, 2012. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 4.50% or 3-Month LIBOR plus 0.75%. As of December 31, 2012, the annual dividend rate was 4.50%.

⁽¹⁰⁾  On November 21, 2007, we issued 20 million shares of preferred stock in the amount of $500 million. Subsequent to the initial issuance, we issued an additional 1.2 million shares in the amount of $30 million on December 14, 2007 under the same terms as the initial issuance.

⁽¹¹⁾  Rate effective December 31, 2012. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 7.75% or 3-Month LIBOR plus 4.23%. As of December 31, 2012, the annual dividend rate was 7.75%.

⁽¹²⁾  Represents initial call date. Redeemable every five years thereafter.

⁽¹³⁾  On May 19, 2008, we issued 80 million shares of preferred stock in the amount of $2.0 billion. Subsequent to the initial issuance, we issued an additional 8 million shares in the amount of $200 million on May 22, 2008 and one million shares in the amount of $25 million on June 4, 2008 under the same terms as the initial issuance.