Fannie Mae-No Politics (FNMA)

[Wise Man]

CALABRIA, DECLARED A MOBSTER COMPULSIVE LIAR ON #FANNIEGATE
He repeats the Mob's mantra:
- FnF need a Refinance fee to cover losses since they didn't build a Retained Earnings acct after the repayment of the SPS, like the FHLBs did with their rescue fund REFCORP.

- He covers-up his Power as conservator. He's never mentioned it. "Put FnF in a sound and solvent condition", because he knows that soundness means Recapitalization and solvency is related to reducing their obligations with the Treasury (SPS). Corroborated in the section Restriction On Capital Distributions (Recap) and its exception (reduce the SPS)

- He claimed in the 2009 FHFA's report to Congress that the low-cost borrowing was due to the "perception" of a UST cheap backstop, which was also recently stated by another liar, Moody's Zandi, in his comment submitted in the FHFA's Capital rule.
There's no perception, but an explicit UST cheap backstop in the Charter since its inception. Section: AUTHORITY OF TREASURY TO PURCHASE (REDEEMABLE) OBLIGATIONS, at a rate similar to Treasuries.