Fannie Mae-No Politics (FNMA)

[Fully Diluted]

Here is the relevant section in HERA, starting at page 109 of 261:
https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf
It states that the LLRE „succeed to the charter“.
But I can't find anything there that says the charters should or can be resold or transferred. That doesn't make sense, I think, because the LLREs have to sell the “capital stock” within five years. It's not LLRE shares that are to be sold, but Fannie or Freddie's assets. And the LLREs are limited in time, as their name suggests. Once they are liquidated, the charters will also become obsolete. Because they will certainly not be transferred with the assets.

HERA does not provide for Fannie Mae to be liquidated in receivership only for its business to be taken over 1:1 by another company. Because it is assumed that Fannie has failed if it is put into receivership.

In other words, if Fannie Mae fails, its assets will be sold and the company, along with its charter, will disappear. It is wishful thinking to assume that Fannie can be placed in receivership in order to wind it down, but that a newly created company can take over the business, the business model, and the charter exactly as they are. That is not the purpose of receivership.