Fannie Mae-No Politics (FNMA)

[philipmax]

Scary that Lockhart put the GSE's in conservatoship. What did he have in mind 14 years ago? That it would be a 2 week trip in-and-out of C? Of course not! He wanted to grab this gem for his friends. He's been planning to find ways to steal it from the shareholders from day one and he thinks that he has a solution. SUBSIDIARIES???
Let's see. FNMA issues stock in FNMA JR. and floats it on the market to yield , say 9%, FNMA stops trading its own shares and everyone is happy. There is a public ownership in FNMA. What happens to the original shareholders? Well, they hold a holding company that transferred all its assets to the sub. FNMA Holding has no assets on the books. It's just a shell. No value. No trading. No S^&*T!