""The purpose of appointing the Conservator is to preserve and conserve the Company’s assets and property and to put the Company in a sound and solvent condition."
Apparently, the now deceased Clara Peller was the only person authorized to ask "where's the beef?"; or, in the case of the GSEs "where's the assets and properties you were charged with preserving and conserving?"
Not a soul, in shareholders' defense, has asked the question because every one of them knows the answer!