Fannie Mae-No Politics (FNMA)

[obiterdictum]

This statement is an intentional misstatement (a lie) that intends to directly mislead. Winding down can only legally refer to receivership. Below is what the law (12 U.S.C. § 4617(a)(2)) actually says:

(a) Appointment of the Agency as conservator or receiver

(1) In general
Notwithstanding any other provision of Federal or State law, the Director may appoint the Agency as conservator or receiver for a regulated entity in the manner provided under paragraph (2) or (4). All references to the conservator or receiver under this section are references to the Agency acting as conservator or receiver.

(2) Discretionary appointment
The Agency may, at the discretion of the Director, be appointed conservator or receiver for the purpose of reorganizing, rehabilitating, or winding up the affairs of a regulated entity.

Here is what that false statement said:

Congress empowered FHFA to act as conservator of Fannie Mae for the purpose of reorganizing, rehabilitating, or winding up its affairs. 12 U.S.C. § 4617(a)(2)

Notice that "or receiver" has been left out, though it is plainly stated in the law. 12 U.S.C. § 4617(a)(2)

The statement should read:

Congress empowered FHFA to act as conservator of Fannie Mae for the purpose of reorganizing and rehabilitating, or as receiver for winding up its affairs. 12 U.S.C. § 4617(a)(2)

Nowhere in HERA 2008 did Congress give powers to the FHFA to wind up (http://www.investopedia.com/terms/w/windingup.asp) GSEs as conservator.

As you can see, it is important to know the law and to pay close attention to ignorance of the law and deceptions made about the law.

Source: http://www.law.cornell.edu/uscode/text/12/4617