This is from FNMA's latest 10k under covenants under treasury agreement: "The senior preferred stock purchase agreement and warrant contain covenants that significantly restrict our business activities and require the prior written consent of Treasury before we can take certain actions. These covenants prohibit us from taking a number of actions, including: ... ... seeking or permitting the termination of our conservatorship, other than in connection with a receivership."
Is this not self-indicting that the treasury runs the conservatorship? Thereby acting with personal interests in mind instead of doing what's best for the GSE's?
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