Fannie Mae (FNMA)

[kthomp19]

Fannie and Freddie don't have negative core capital.

This must be the false narrative you referred to. Just check Fannie's 10-K on page F-50 (page 240 of the pdf) and Freddie's 10-K on page 255 (page 259 of the pdf).

How can you possibly say, with a straight face, that FnF don't have negative core capital? It's right there in the official SEC filings. Facts. I'll even provide a picture.

End of 2011 Freddie had an accumulated deficit of $74 billion. Funny, end of 2019 they still have accumulated deficit of $74 billion.

Well then, it appears you know how to read 10-K forms after all. This is correct. There is nothing "funny" about this either; the accumulated deficit ballooned between the start of conservatorship and the end of 2011 due to all the draws FnF took from Treasury. Once the draws stopped, the accumulated deficit stopped rising.

This also makes your previous assertion all the more indefensible; citing 10-K figures to make one point while completely ignoring them to make another doesn't make sense at all. Do FnF's SEC filings tell the truth or not?

In the meantime, they earned and paid federal income taxes on $112 billion.

Where does $112B come from? And why does it matter? FnF would have paid those taxes whether the NWS had been in place or not.