Fannie Mae-No Politics (FNMA)

[philipmax]

With all that is said by politicians, who, by-the-way, are as guilty as is management in fostering the climate of profligate risk taking as a policy for these GSEs - they cannot negate the Constitution of the USA.

Fanny Mae is close to celebrating its 80th year of outstanding and irreplaceable service to the banking and home buying population. No one in his right mind can deny that it provides a unique and valuable service to society. The fiduciary lapse of the first decade of the second millennium should not detract from its ultimate value to shareholders and society at large..

Having said that, these institutions should have been kept within the bowels of Government ownership. The fact that crafty politician spun these units to the public in order to trick us into believing that the National debt was less than it was, cannot now be turned against the investors who became owners at the IPO in 1972. The stockholders hold ownership rights that were sold to them by the Gov't.. Any twisting of this simple fact is fraudulent and confiscatory. There is no way for Uncle Sam to sequester property rights without due compensation. PERIOD.