Fannie Mae-No Politics (FNMA)

[chessmaster315]

Great question!
Of course, we dont know how/when/if that will be resolved. However, the brokerage firm(s) which delivered (fake, phantom shares) should be liable.

When we deposit the cash, pay for shares, we should be able to expect "good title", just like a car dealer. When you buy a car from a dealer, and there is a problem delivering the title, the car dealer is in trouble. Carvana is in legal trouble with the state of michigan, because it failed to deliver titles. https://www.theautopian.com/carvana-wont-be-able-to-sell-cars-from-a-physical-dealership-in-michigan-for-three-years/

The dealer "has a responsibility" to provide the title, when the buyer lays down cash, or his lender lays down the cash.

The brokerage firm's responsibility includes "delivery of good shares purchased", and, to deliver the cash to customers who sell their shares.

"In good faith" we bought these shares with real money, and can reasonably expect the brokerage firm to deliver on their end of the bargain, that is to deliver marketable shares, not fake or phantom shares.

The clearing house, too, may have some liability for attempting to deliver, or delivering fake phantom shares. Its not our responsibility to ensure the shares we purchase are "good", rather, its the brokerage firm and the clearing house liability issues. Here is how that works: https://www.investopedia.com/terms/c/clearing.asp