Fannie Mae-No Politics (FNMA)

[big-yank]

If the conservatorship was approved by FNMA's board, as you just confirmed, most of the litigation gets thrown out as BS.

FHFA's mandate as dictated by Congressional action has no laws of conservatorship to abide by when it comes to fiduciary responsibility. None are prescribed by HERA. FHFA was only bound to "conserve and preserve" the government sponsored enterprises, which they clearly performed in a responsible manner.

Fiduciary responsibility to shareholders was vacated by FNMA's board when they consented to being taken over. Nobody filed a suit against FNMA or its board. Too bad for them.

Next time around, I suggest you recommend that FNMA shareholders at least SUE the right entity to legally aggrieve their complaints.

LOL.