Fannie Mae-No Politics (FNMA)

[Wise Man]

FNMA securities are exempt from S.E.C. registration when they are originated, but it doesn't mean that the holder of its securities is exempt from filing a Schedule 13-D Beneficial Ownership report or that FNMA is exempt from filing earnings reports with the S.E.C..
Anyway, that's not the debate. What is denounced in my post is that the U.S. Treasury is considered beneficial owner of a 79.9% stake on FnF all along, that's why a Takings claim arises.
Furthermore, it makes the Warrant illegal, as in the provision that authorizes the Treasury to buy FnF's securities it stresses that it must be taken into consideration the need to maintain their status as private shareholder-owned enterprises, and with this warrant and subsequent determination from the legal point of view that is beneficial owner of a 79.9% Common Stock stake, regardless of the warrant being exercised, is violated.
Thus, the warrant is illegal and it prompts a Takings claim.