Fannie Mae-No Politics (FNMA)

[whipstick]

Finally, to put and keep the companies in conservatorship Treasury has had to single out their shareholders for unprecedentedly punitive treatment—forcing the companies into conservatorship, having FHFA add massive temporary or artificial accounting expenses to make them take unneeded and non-repayable senior preferred stock, and then, when the effects of the accounting expenses reversed, taking all of their net income in perpetuity.

That sounds like fraud to me. Which you don't seem to cover in your poor summary.