Yes. Our government trashed fannie shareholders by stealing hundreds of billions AND letting (even encouraging) TBTF banks to steal even more from FNMA shareholders.
Its a testament to the massive strength of our company. Between the government and the banks 300 billion was stolen from us.
NO OTHER COMPANY has ever survived a theft of 300 billion dollars, ever.
Incredibly, even after a theft of 300 billion fnma quickly turned a profit, and continues to be profitable. Reason, in part, is that FNMA is 3.58 Trillion (That's 3,558 billion). The 300 billion dollars stolen amounts to a haircut of 8 percent.
Tho Im unhappy about an 8 percent haircut (do the math..300 billion divided by 3558 billion is 8 percent, rounded off), but we survivived for 10 years, and still will likely get (IMHO) a hundred billion or more of that back, and, more importantly, our profits back..billions per quarter.
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