Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

That's when LBJ AND CONGRESS decided to create the Private Corporation with a special public purpose and received $250 Million for the "IPO". Back then LBJ and Congress were looking to lighten up the obligations of the Federal Government as inflation was heating up and the Vietnam War expenses escalating!

Today, by nationalizing the 2 private companies, Congress won't be able to do it very efficiently again in the future if they want to create a private corporation with a public purpose.

That SM couldn't figure this out is sort of a head scratcher for me, but the Unitary Executive Principle and the possibility of overruling Humphreys Executor may be factors.