Fannie Mae-No Politics (FNMA)

[cclose1]

Gonna disagree with you here.

Conservatorship and the SPSPA are 2 different things and can be separated from each-other. The only link is the terms of the SPSPA require treasury approval to end conservatorship. But that does NOT end the SPSPA contractual agreement. The "line of credit" or remaining funding was part of the Contractual Consideration for SPSPA, and the NWS. Conservatorship is Regulation. SPSPA was the "Bailout"

Remember the deal:
100 Billion Now + "line of credit" FOR 100 Billion in Preferred Stock + 79.9% Warrant.

If the Government wants out of the "line of Credit" then either (or both, however it is renegotiated) the Preferred stock and/or Warrants also MUST go or be reduced etc. otherwise Breach of Contract by Gov. Also, NO Consideration for the NWS, as the "Valuable Consideration" was the increased credit line.

Conservatorship is a Regulatory action, once it is finished the Contact still exists until it is renegotiated or declared unenforceable in court.

That GAO report i sent you acknowledges the obligation. Also look at OLC 2009, think it was vol 33, on whether or not an obligation on the GOV was created. Bottom line they owe the line of credit.