Fannie Mae-No Politics (FNMA)

[Wise Man]

Only laymen and Goldman Sachs talk about "implict" government guarantee on the MBS. Tell me one time where the Govt has born the credit loss in a mortgage. None.
What there is in their Charters since their inception in 1968, is a provision with a UST backup of FnF at a rate that takes into consideration the Treasury yields as of the end of the prior month of the purchase of redeemable obligations, which can be SPS by definition.
Implied govt guarantee, "implicit contract", ... is all fiction by the scammers that want to rip off the shareholders.
You are the same guy repeating a thousand times the word Nationalization.
A lawyer! An illiterate in Finance and a professional in twisting and covering up the law and CFR. Pagliara's footman.

By the way, the reason why there is 59bp g-fee today, is because we are heading for a fully private Mortgage Guaranty Securitization business, pursuant to the February 2011 UST's 3-option plan submitted to Congress and required by Dodd-Frank Law with regard to recommendations on ending the Conservatorships.