Fannie Mae-No Politics (FNMA)

[Wise Man]

That said I think we all agree on what has happened here; the illegal takeover (by coercion, and then subsequent accounting fraud)

No, we all don't agree on that.
The conservatorship was legal, based on the FHFA Dtr's discretion to place them based on "(G) LOSSES, likely to incur losses that would deplete Capital."
Your assertion of Accounting Fraud isn't the same as mine, so don't say that we have the same take because you are tarnishing my name.
Your assertion of accounting fraud is a mistake, because it was justified with the prior accounting rule "Incurred Loss" since mid 2008, that made them balloon the provisions for loan losses, setting aside a provision for future FAKE credit losses equal to the concession granted to borrowers. Then it's legal. The accounting rule is flawed, that's why it was changed for CECL accounting standard on January 1st, 2020.
Now, the provision is based on an estimation of REAL future credit losses, although there's other problem: it's recorded as Allowance For Loan Losses and thus, asset written down (it assumes that the future credit loss already occurred), when it should be a simple Reserve for Loan Losses, deemed Capital and Equity.