Fannie Mae (FNMA)

[Ace Trader]

Smoking Gun !

Half way down page 3. He clearly says. If you believe this Garbage !

Quote:
I was deeply concerned about any outcome that left the US Government as a major equity owner of the companies in the long run. Common equity held by the Government could more easily be SOLD INTO PRIVATE HANDS than could preferred shares.

End Quote:

https://imgur.com/a/OiYNR1S

So you see that the Gov can resort to this ( Cram down) in order to sell off their common state to the highest bidder or to Wall Street bankers hedge funds.