Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

"In May 2013, Fannie Mae was allowed to release the valuation allowance on their DTAs, recognizing a $50.6 billion profit. Freddie Mac followed suit and released $23.9 billion. The total DTAs kept off of the books, combined, was $74.5 billion. These non-cash losses were unnecessary.

In Fairholme Fund's suit against the United States, filed in the United States Court of Federal Claims, Cooper & Kirk PLLC note that $161 billion of the total $187 billion in Senior Preferred Stock Purchase Agreement costs were primarily for non-cash accounting losses. $26 billion of the SPSPA costs were for interest charged on those non-cash items."