Fannie Mae-No Politics (FNMA)

[mike_usa]

In 2008, in a time of crisis, the government goes to Fannie and Freddie and said, "here's the deal. You give us 79.9% ownership of the company, and anything we give you, we want 10% interest on that until you pay it back. I have no issue with that — it was a crisis. You get great deals in tough times, and taxpayers stepped in and deserved a great deal.
Then in 2012, in good times, the government changed the terms. Instead of collecting a 10% annual dividend, they said "we want everything.'' And they were negotiating with themselves (because Fannie and Freddie are controlled by the Federal Housing Finance Administration). That's what we're fighting.


http://www.usatoday.com/story/money/business/2013/12/25/fairholme-capital-berkowitz-on-fannie-freddie-future/4041843/