Fannie Mae (FNMA)

[ShortPutCall]

They put a conservator that was created by the govt, and act like the FHFA in charge is not a conflict of interest. The head of FHFA who has 100% control and is the one that signed off on the profit sweep. One side can argue that it is a smart move as they have the tresury as a piggy bank, on the other hand sharholders are screwed as the company is devalued as they can not stock pile money on thier books. There is a a point in the law of consertivshhip that the conservator must martin the vaule of the asset. The allowing of the profit sweep with no question devaules the company in fact makes it worthless as it techniacally makes zero as they actually literally have to write the number 0 on thier balence sheet even though they brought in billions.