Fannie Mae-No Politics (FNMA)

[jog49]

From the Fairholme case:

The Net Worth Sweep was adopted not out of concern that the Companies would earn too little, but rather out of concern that
the Companies would earn too much and thus complicate the Government’s plans to hold them in perpetual conservatorship and to prevent their private shareholders from ever recouping their investment principal, let alone seeing any return on that
investment.

That's it in a nutshell! The government's effort to steamroll the little guys.