Fannie Mae-No Politics (FNMA)

[Donotunderstand]

If I understand you

F and F had a problem in 2008

That problem WAS NOT THEIR INSURED MBS CREATED PAPER

That problem was F and F - with reserves/capital - in order to get higher stock ROI and earn the highest interest income --- bought stuff from BANKS and OTHERS that imploded

That was my impression of the trouble surrounding F and F at that time ------ IMO from what I read the problem had holders of F and F MBS paper nervous - especially in Russia and China (enemies) - and GOV acted (right or wrong way and clearly wrong after say 3 years !!) . The MBS paper that F and F wrote performed well for 2008 compared to TBTF private MBS paper (even the normal stuff) and then all the bets on derivatives of derivatives that we all wish F and F had stayed away from