Fannie Mae-No Politics (FNMA)

[Red Captain]

I think its important not to frame what has happened to FnF as nationalization.

Why? Because nationalization would convey legitimacy: A systemically important institution was taken over by the country so as to safeguard public or national interest in a time of crisis.

However that is not what happened. What has occurred is a form of plunder justified on the basis of scapegoating for the crisis, and likely to the eventual benefit of large private financial institutions. Ultimately current policy goes against public interest by slowly destroying a systemically important institution and a national asset via plundering its capital reserves.

The analogy with what happened with Pemex in Mexico is quite relevant I think.