Fannie Mae-No Politics (FNMA)

[chessmaster315]

Obit,
With all due respect, this makes no sense. Remember, the bondholders were not damaged...Bondholders got their applicable interest rate(s) as well as the bond principal returned.
The GSE's paid out as insurance claims, to the bondholder, in the event the borrower defaulted on the applicable mortgage. So, the bondholder suffered no financial "injury".
The "injured party" was the shareholders, not the bondholders.
AGAIN, bondholders lost no money, instead the toxic loans were dumped on FNMA and the applicable losses ultimately were paid for out of shareholder earnings pockets.
The bondholders were not "injured", instead, the FNMA shareholders bore the blunt of bondholder manipulations as FNMA was the "insurance company".
Fnma does not MAKE loans, we insure the loans against default, with the premiums paid by the mortgage borrower.
Its unclear why the document was sent to me if I have "no interest" in the settlement and dont belong to the settlement class.
Please dont take this as an insult, it is not intended as such.
We all appreciate your well reasoned comments, this is probably another instance of me not understanding this.