Fannie Mae-No Politics (FNMA)

[brandemarcus]

Let's just use common sense. As an example , we have the 2009 audited reports (10K) for fnma. Of the 95 billion in expenses for Fannie mae, 73 billion represent credit loss provisions. How can you express any opinion on the statements as a whole if you have no duty to look at 75% of the expenses.
We talking about problem loan books from 2005, 2006 and 2007. There is plenty of historical and actual data to look at. Then in 2012 , we can already tell how pristine the loss experience of the new loan books (2009 and after ) are after reform.
Again the question ,no peer companies are required to set up such conservative loss reserves. Just think the government is standing by all the investment banks, and all those Fdic guarantee companies. Did those banks have different macroeconomic forecasts ? Did those different standards have anything to do with a 10% net worth sweep on all phony "losses" that could be created. Just a coincidence? Sure! Use your common sense .