Fannie Mae-No Politics (FNMA)

[big-yank]

Impossible. FHFA does not bear responsibility for the numbers presented and signed off on by the boards of either Fannie Mae or Freddie Mac. The veracity of those numbers reposes solely with the accounting and finance staffs at Fannie & Freddie.

Similarly, the auditors do not create the numbers. They can only confirm that the reports were compiled in accordance with generally accepted accounting standards or issue a qualified opinion.

Any adverse verdicts for accounting fraud would only support court delivery of claims to be paid by the GSEs to claimants in a class action suit... as happened during the earlier accounting scandal and change-out of the BOD.

So, if you are a stockholder and are hoping for an accounting fraud payment for damages, please know that you will wind up paying yourself out of corporate income for your windfall, and your S/P will fall in accordance with the financial "hit" recorded to pay out that settlement. Some victory. The government pays ZERO for serving as conservator.

JMHO.