Fannie Mae-No Politics (FNMA)

[Dollars1]

Fannie, Freddie employees deserve a company party upon release for working under these conditions, IMO.

"...On November 15, 2012, the Conservator revised and expanded the categories of items requiring Conservator approval, instructing the Board that it should oversee that management consults with and obtains approval of the Conservator before taking action in the following areas:

Matters requiring the approval of or consultation with the U.S. Department of the Treasury (Treasury) under the covenants of the Senior Preferred Stock Purchase Agreement (Purchase Agreement) between the company and Treasury;
Redemptions or repurchases of subordinated debt, except as necessary to comply with the limit in the Purchase Agreement;
Increases in Board risk limits, material changes in accounting policy, and reasonably foreseeable material increases in operational risk;
Matters that relate to the Conservator’s powers, the status of Freddie Mac in conservatorship, or the legal effect of the conservatorship on contracts, such as, but not limited to, the initiation of material actions in connection with litigation addressing the actions or authority of the Conservator, repudiation of contracts, qualified financial contracts in dispute due to conservatorship status, and counterparties attempting to nullify or amend contracts due to conservatorship status;...."