Fannie Mae-No Politics (FNMA)

[jog49]

Yes, it was stolen, in totality. The plaintiff, FHFA as conservator of F&F, received all the settlement proceeds on behalf of F&F, who, in turn, never received any of that money . . . all of which should have gone back to operating capital for both GSEs. Where is that money? Looks like to miraculously ended up in the U.S. Treasury (the black hole where nothing can be found). That's why I asked the question about capital needs. We have $100B now, we had $96B just prior to the start of conservatorships, and on our behalf, FHFA recovered $250B which belongs to F&F, not FHFA. So as Clara Peller once said, Where's The Beef?