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"GSE Act" is how FnF call the FHEFSSA of 1992 in their Earnings reports, deviating from the original name cut short for "FHE Act" that appears in formal documents, like in the SPSPA:
It isn't just an attempt to undermine the existence of the FHEFSSA, with all the definitions capital-related, and to conceal the fact that FnF have a congressional Charter (The Charter Act), blending both names into GSE Act, already pointed out.
It's worth highlighting that they also target the fact that FnF are private corporations, and instead, they follow the mantra initiated by Mnuchin, of emphasizing that FnF are Government Sponsored Enterprises (GSEs) when talking about FnF, pretending that this concept prevents the notion that FnF are private shareholder-owned enterprises and public companies (publicly traded stocks that represent an aliquot portion of the ownership of FnF), along with the other mantra: "Cash Equity", all of a sudden, they turn the FHFA into HUD, and FnF turned into the FHA's MMIF.
In sum, they conceal that FnF are congressionally-chartered private corporations.
There is nothing wrong with the name GSEs, if it isn't an attempt to conceal that it's a name deviated from the original government-sponsored private corporation, that we can see in the 1968 Act with the privatization of Fannie Mae, where Ginnie Mae was spun off, taking the special assistance functions with it.
Finally, if someone watched the Senate hearing of last week, he hardly would have noticed that FnF are still in Conservatorship (Conservatorship occurs only in your imagination) and then, shocked after realizing that there isn't the required autonomy of the FHFA from FnF, 15 years on.
A lot going on with a simple: "GSE Act".
They want to deprive everything of its value or meaning: unbacked tokens, etc.
The case against the crooked litigants and other peddlers of the government theft story using formal documents, publicly available, is clear.
It began with "SPS, repaid" and with the overpayment, a "cash refund", thinking that FnF are Mutual Funds, like the FHA's MMIF, disregarding that, if FnF reduced the SPS and more, under the guise of dividend payments, it prevented them from recording the Retained Earnings as Core Capital in the first place (double entry accounting Cash-RE), and then, the SPS are reduced with simple cash. Watch the chart of Freddie Mac in my signature image, to see how it played out (This is fixed with the way the adjusted Common Equity as of end of 2023 was assessed, for the BVPS).
It has ended up asking for debt forgiveness (SPS canceled), like Argentina and the IMF nowadays, both begging for an authorization by the UST to cancel the debt.
IMF: "Argentina is doing great!". Yeah...great, with the IMF interest payments of April in arrears.
All of the above can't be part of the complaint and remedies sought by a serious lawyer. This is the reason why the attorney for Berkwitz and other 4 cases he seized control of, expelling the original lawyers to control the narrative and school the judges against us, David Thompson, said that he is an unsophisticated lawyer in financial and Capital Adequacy matters (watch the tweet cited below that includes an audio recording, during a Conference Call hosted by Pagliara), in an attempt to be exempt from crippling liabilities: stock price manipulation, abuse of court process and Making False Statements.
He also has formally asked in the U.S. courts for a swap SPS for Common Stocks, at the same time that Mnuchin required the same terms for the JPS, despite that the JPS would be wiped out with the current $125B Net Worth and $310B SPS LP outstanding, according to Calabria in his book, so we don't have documentary evidence of this government proposal to bail out the JPS holders and the assault on the ownership by the holders of preferred stocks (After a haircut, a swap at a rigged price automatically makes them whole on day one when the price rises).
This is called "playing the fool", because the Separate Account plan is what legalizes every action, in other words, it's set forth in the law, rules and basic finance, that all of them are being shamelessly covered up or deprived of their meaning, on daily basis. Therefore, we don't need Treasury documents corroborating it. A Separate Account was already carried out for the FHLBanks in 1989 through legislation (Section: Separate Account for the repayment of principal of the Refcorp obligation). We also see the intention to carry it out with the FHFA Final Rule of July 20, 2011, expressly writing that it's a follow-on plan ("the supplemental") in the CFR 1237.12, that authorizes "a capital distribution (deplete capital) for their recapitalization (build capital)", in a separate account, obviously (outside their Balance Sheets), suitable for the moment the SPS LP had been fully paid down with the exception to the Restriction on Capital Distributions by statute:
(c) It supplements and shall not replace or affect any other restriction on capital distributions by statute.
If Ds claim they confiscated💵and judges agree,Ps can't claim the same.
— Conservatives against Trump (@CarlosVignote) April 23, 2024
Flawed complaint &remedies:
-SPS repaid
-$29B cash refund
-Swap SPS/JPS(Mnuchin)for Cs.
0️⃣C.C.recovered(Adj $402B shortfall over Min L.requiremnt)
-SPS canceled? For a 3rd🌎country.0️⃣chance in FnF.#Fanniegate https://t.co/MZtgDZ1hTg pic.twitter.com/rpSv9P2aij
The order is invalid and not legal. Too late to file.
And it had to be filed by the 17th.
Disoriented?
Time to go exercise 😉 and take a nap 🥱 🌵🛹🇺🇸
The stock price is moving as slow as the justice system.
But, I agree, stampede is coming.
Obama-Biden administration swindled $301 billion of Fannie Mae and Freddie Mac equity and stole from the pension funds of police officers, fire fighters and government employees. Clawing back that money would restore the retirement accounts for millions of Americans. https://t.co/DrLbNAScWF
— Guido da Costa Pereira (@GuidoPerei) April 23, 2024
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Fannie Mae (the Federal National Mortgage Association, or FNMA) is a government-sponsored enterprise (GSE) in the U.S. that was established in 1938. Its main purpose is to provide liquidity, stability, and affordability to the U.S. housing market. It does this by purchasing mortgages from lenders (like banks), packaging them into mortgage-backed securities (MBS), and selling those securities to investors. This process ensures that lenders have more capital to issue new home loans, helping more Americans get access to homeownership.
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