Fannie Mae-No Politics (FNMA)

[Barron4664]

Whether or not they explicitly guarantee doesnt determine if they can avoid putting the liabilities on the nations balance sheet. The Treasury used appropriations to provide a $200 billion commitment, own greater than 50% of the GSEs, and asserted non regulatory control of the GSEs through the SPSPAs. These are the 3 conditions listed under FSAB for consolidation. Only one of which is necessary to require Treasury to consolidate. Treasury has met all 3 since 2008, and has chosen to break federal law thereby resulting in the Treasury unconstitutionally repudiating the nations debt. Those 3 criteria show a complete nationalizing of the GSEs. The fact the shares still trade is a giant securities fraud.