Fannie Mae-No Politics (FNMA)

[Donotunderstand]

Income v Revenue v Profit

When all the dust (expenses) settle - F and F have been making profit

That profit - as cash - is kept - it does not go anywhere

BUT an obligation - an IOU - is created - $ for $ - that is given to Treasury (this smoke and mirrors is Mnuchin)

The more our capital base grows - the more we owe the Treasury in LP measuring value of senior preferred paper

That paper - obligation if one prefers - should be declared to be ZERO for the 300B cash sent to Treasury (Gov argues the 110B over "investment is 15 years of dividend and or interest - which is legit but they must kill the SP - and brag about the 100B profit for us to be free)