Fannie Mae-No Politics (FNMA)

[kthomp19]

You can't understand it's a $301 billion swindle because of your lack of accounting knowledge. If they still owe the government all the money that's already been paid, it's a $301 billion swindle.

Now I just plain don't believe that you have an accounting background at all. First you couldn't seem to find the "accumulated deficit" and "net income" lines on FnF's respective balance sheets and income statements. Now you're using the word "owe", which refers to a loan (a liability), in reference to the senior preferred shares, which are equity.

Liabilities and equity are not the same thing. That was taught on the first day of Accounting 101.



Your turn to do some fact-finding here, try not to sneeze. Find an example of a preferred shareholder in a company that gave up their preferred shares for no return consideration after (over the course of time) having been paid more than the original outlay in dividends.