Fannie Mae (FNMA)

[Robert from yahoo bd]

HAPPY BIRTHDAY! https://www.treasury.gov/press-center/press-releases/Pages/tg1684.aspx

"The agreements will replace the 10 percent dividend payments made to Treasury on its preferred stock investments in Fannie Mae and Freddie Mac with a quarterly sweep of every dollar of profit that each firm earns going forward."

Less than 12 months later..."Fannie Mae reported annual net income for 2013 of $84.0 billion, which includes the release of
the company’s valuation allowance against its deferred tax assets, and annual pre-tax income for
2013 of $38.6 billion."