Maybe this is the reason why the cram down is being pushed so hard, maybe the main reason why Fannie and Freddie are not released. The phantom shares go away by wiping out the existing common shares. What happens if the shareholders were to find out their shares possibly do not exist? If the shareholders are wiped out will never know.
Failure to Deliver, Fannie and Freddie, this possibly could end as the greatest take down in the history of Wall Street. The U.S. Securities and Exchange Commission knew about this, it's reported on their website.
Several years ago, I attempted to obtain the list of common and preferred stockholders of record by contacting the transfer agent at Computershare Trust. Fannie Mae governed by the Security and Exchange Commission is required to report this information to the shareholders. I was given the run around and did not press the issue.
INFORMATION FROM: U.S. Securities and Exchange Commission web site.
The counterfeiting of U.S. assets. Theft from pension funds, State employee retirement accounts, and U.S. Citizens. The counterfeiting of shares of Fannie Mae and Freddie Mac. Where are our regulators and who are they protecting?
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard two-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a "failure to deliver" or "fail."
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