As long as people talk about privatization we are in a hall of mirrors. FNMA and FMCC are shareholder-owned companies. The question is whether to release and refloat the companies. Millstein places the total value of the companies at $300-$500 billion with the Feds owning 90%. That would leave $30 to $50 billion for shareholders. If SPS is deemed paid off shareholders would have $60-$100 billion by his math. Debt bondage has long been illegal in the U.S. I still do not understand how paying all income to the governmentment with the amount owed actuallly increasing along with the payments passes legal muster.
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