Fannie Mae (FNMA)

[jog49]

""The large net returns already realized by the government from its GSE investments
"

Don't tell me you're buying into that GSEs "investments" bullshit?

US Government: Oh yes, we made a very good investment in both Fannie Mae and Freddie Mac. We bought 100,000 shares in both entities for $1.00, many times over, and now "own" almost 80% of each. Mind you, we only said almost 80% because that level would have required us to put them on our books and that would have been a disaster! Now, we just keep the GSEs in a state of limbo and wait out the equity holders until they all die.