Fannie Mae-No Politics (FNMA)

[kthomp19]

Thanks. You proved my point.

No. Your earlier point stated "Corporations that pay more than Berkshire Hathaway in federal income taxes don't have accumulated deficits."

That is a factually false statement. I showed you two examples that prove it wrong: Fannie and Freddie themselves.

What you probably meant is "Corporations that pay more than Berkshire Hathaway in federal income taxes shouldn't have accumulated deficits." But that's just an opinion, and one of a non-party to any lawsuit for that matter. A fart in the wind, as it were.

No other corporation outside communist countries are forced to follow voodoo accounting.

"Voodoo accounting" is not a technical term in accounting parlance, is it? So be more specific: what specific accounting entries do you believe have been in error, and what laws or regulations do you think they violated?



My overarching point remains: what can any of us do about it anyway? Denouncing FHFA and Treasury's past actions as "fraud" or "voodoo accounting" (or not doing so), especially by someone who isn't a plaintiff in any court case, has no effect on how FHFA and Treasury will resolve the conservatorships. What, then, is the point of doing so? It all just amounts to bellyaching.




(from another post)

FnF don't have a capital problem!

See, this is another form of the same argument. I showed FnF's reported Q1 2022 capital levels in this post.

Fannie has a deficit of $182B to its base core capital requirement (2.5% of adjusted total assets), and Freddie has a $131B deficit to its. These, again, are facts, reported on FnF's 10-Q forms. Fannie and Freddie DO have a capital problem! If they were released right now, FHFA would be forced, by law, to classify them as "critically undercapitalized" and would have to put them right back into conservatorship, if not receivership.

Again, what you probably meant here is "FnF shouldn't have a capital problem!" And that, as before, is only an opinion, and one that has no effect on the final resolution.

At least Bryndon Fisher, unrealistic as his expectations are, couches his desires in terms of what he thinks "should" happen, rather than flat out denying facts in FnF's financial statements.