Fannie Mae-No Politics (FNMA)

[Wise Man]

No. Everything related to the stocks has nothing to do with the enterprises. Any charge for issuing stocks at a price markedly different to their fair value, is recorded as a charge on the shareholders' Additional Paid-In Capital account (the money ponied up by the shareholders above the par-value). Which is what happened in the 3Q 2008 earnings reports.
If FnF issue 2 billion new common stocks or 30 billion, it doesn't affect their Income Statements or balance sheet.
Thus, the harm is only suffered by the existing shareholders that see their stake in the corporations diluted and thus, their proportionate share of earnings (EPS)