Fannie Mae-No Politics (FNMA)

[Rodney5]

Wise Man, So, you are saying "maximize profits for taxpayers" is not written in the Charter Act? Specifically, in this provision entitled Fee Limitation of the United States: Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee?

So, you are saying The FHFA / Treasury their objective is to peddle the lie of Fannie and Freddie to continue to build capital through Retained Earnings? The Treasury never intended to keep the money and will return it to the companies, as everything the Treasury has done will be legal?

And this is the lie the FHFA / Treasury are peddling by their acts,

“Charter act prohibits the commitment fees (Seniors, warrants, variable liquidation preference). More importantly the actions of Treasury to appropriate 200 billion in taxpayer debt, take non regulatory control of the companies through the SPSPA (require Treasury permission at least 10 separate times) and ownership of more than 50% of the companies requires them under the GAO act and the CFO act to consolidate the GSEs onto the nations balance sheet. The fact that that hasn't happened means the Treasury has violated the 14th amendment to the Constitution by repudiating the 5 trillion plus in debt the Treasury has acquired through their actions since 2008. Their actions have resulted in a taking of the entire enterprise value of the formerly private companies. These actions have necessarily turned the GSEs back into agencies of the executive branch as they were originally created. This is the definition of a major question and also a separation of powers problem since Congress did not authorize the actions Treasury took and continues to take.” End of lie the FHFA / Treasury are peddling.


The Charter:

The Treasury was authorized by Congress a limit of $2.25 billion to purchase obligations. The $2.25 billion was the explicit obligation. With the passage of HERA Legislation: (purchase obligations increased with an expiration date of December 31, 2009).

SEC. 1117. TEMPORARY AUTHORITY FOR PURCHASE OF OBLIGATIONS OF REGULATED ENTITIES BY SECRETARY OF TREASURY.

The HERA legislation granted temporary authority to the Treasury to purchase obligations of the Enterprise, above the limits written in the Charter, (Charter limitation of 2.25 billion) up to the point in time of ‘‘(4) TERMINATION OF AUTHORITY.—The authority under this subsection (g), with the exception of paragraphs (2) and (3) of this subsection, shall expire December 31, 2009.

And today the amount is $200 billion.

HERA Section 1117

Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf