Fannie Mae-No Politics (FNMA)

[MannSinger]

Act of USA in GSE=Act in Banana Republic of America- BRA

‘‘(2) DISCRETIONARY APPOINTMENT.—The Agency may, at
the discretion of the Director, be appointed conservator or receiver for the purpose of reorganizing, rehabilitating, or winding up the affairs of a regulated entity.

‘‘(D) POWERS AS CONSERVATOR.—The Agency may, as conservator, take such action as may be—
‘‘(i) necessary to put the regulated entity in a sound and solvent condition; and
‘‘(ii) appropriate to carry on the business of the regulated entity and preserve and conserve the assets and property of the regulated entity.

‘‘(E) ADDITIONAL POWERS AS RECEIVER.—In any case in which the Agency is acting as receiver, the Agency shall place the regulated entity in liquidation and proceed to realize upon the assets of the regulated entity in such manner as the Agency deems appropriate, including through the sale of assets, the transfer of assets to a limited-life regulated entity established under subsection (i), or the exercise of any other rights or privileges granted to the Agency under this paragraph.


Conclusion:
Conservator cannot take action of receiver(winding up) without appointing itself as receiver.

From day 1, The conservator is acting like a receiver once he gave 79.9% of company for few thousand dollars.