Fannie Mae-No Politics (FNMA)

[chessmaster315]

The US Government does NOT guarantee Fannie Mae. Shareholders do not "owe" the government money because of an "implicit guarantee". Instead, the FNMA Preferred "Offering Circular" specifies the there is no government guarantee on fannie:

See Page 11, offering circular:

The obligations of the Corporation under the terms of the Preferred Stock are obligations
of the Corporation only[color=red][/color] and are not those of the United States or of any instrumentality
thereof other than the Corporation.

Its here, on the Fannie mae preferred website:
http://www.fanniemae.com/portal/about-us/investor-relations/stock-information.html

On page 15, it also explains that investors have 100% of the risks of owning fannie, NOT TAXPAYERS.

LEGALITY OF INVESTMENT
National banks may purchase, hold and invest in for their own accounts the shares of Preferred
Stock without regard to limitations generally applicable to investment securities. The Preferred Stock
would be subject to a 100% risk weighting for capital adequacy purposes.
Federal savings associations and federal savings banks may invest in the shares of Preferred Stock
without regard to limitations generally applicable to investments. Preferred Stock held by a federal
savings association or federal savings bank would be subject to a 100% risk weighting for capital
adequacy purposes.