Fannie Mae-No Politics (FNMA)

[mike_usa]

One of the comments made by JD on
http://timhoward717.com/2014/07/01/in-their-own-words/#comments

Tim, In your discussion here you should venture back in time and “replay” what was said about the “purpose” of the warrants and the stated (verbally) plans for them.

I recall a conversation or a quote that essentially, said the warrants were for collateral and would never be exercised.

Also, I see no way the government can walk back on their words. And finally, the Dec 2010 memo – if not stated should be reminded – that it was not public until December 2013 or so and in the interim the FDIC sold a few billions of preferred stock it accumulated from “failed” banks.

I really don’t understand why the government isn’t working very hard at negotiating a settlement that caves on each and every issue. Its really that bad.