Fannie Mae (FNMA)

[Robert from yahoo bd]

I. THE GOVERNMENT’S NATIONALIZATION
OF THE COMPANIES WAS NOT A RESCUE,
BUT A PLANNED TAKEOVER BY
TREASURY FOR POLICY REASONS. ..............5
A. Fannie And Freddie Did Not Require
A “Rescue” In 2008.................................5
B. The Conservatorship Of Fannie And
Freddie Stemmed From A Policy
Decision by Treasury. ............................8
C. Treasury And FHFA Used The
Conservatorship To Lay The
Groundwork For The Net Worth
Sweep. ...................................................17
II. A COMBINATION OF TEMPORARY AND
ARTIFICIAL NON-CASH ACCOUNTING
ENTRIES IMPOSED BY FHFA FORCED
THE COMPANIES TO DRAW $187
BILLION IN SENIOR PREFERRED
STOCK FROM TREASURY...........................19
III. THE FEDERAL PARTIES IMPOSED THE
NET WORTH SWEEP IN AUGUST 2012
TO ENSURE THAT INCOME FROM
REVERSALS OF THE COMPANIES’ NON-
CASH ACCOUNTING EXPENSES
WOULD BE TRANSFERRED ENTIRELY
TO TREASURY, PREVENTING THE
COMPANIES FROM REBUILDING THEIR
CAPITAL.........................................................24
CONCLUSION ..........................................................27

TH Amicus Brief filed in Collins.