Fannie Mae-No Politics (FNMA)

[TRCPA]

One extremely important piece that Bove missed in his 1960's analysis was the fact that FNMA was removed from government control and became a fully private company in 1968, for the first time.

For more context, it was formed by the federal government in 1938 to expand affordable housing. In 1954, it was reclassified to a "mixed ownership corporation" as.....interestingly enough.....the federal government retained ownership of preferred shares, and private investors gained ownership of commons.

This all before becoming fully private in 1968. Followed by the establishment of Freddie Mac in 1970.

Seems to me that SCOTUS is going to examine the entire history of FNMA as part of its deliberations.