The federal government has some nerve holding onto a profitable company while the federal government is so far in debt it's no way they can be the experts.
7.7B pay in dividends 2010 and made a draw of 60B the same year. Then did the same thing in 2011paying 9.6B and drawing 25B
Directions from Fannie Mae to answer question
As discussed, referenced in this email are two items that may be helpful to answering your questions related to Fannie Mae’s draws from Treasury.
· Fannie Mae’s news release that accompanied its Q1 2015 quarterly filing discuss the draws and dividend payments related to the Treasury Senior Preferred Stock Purchase Agreement, beginning on p.7. The first table on p.7 shows Fannie Mae’s annual Treasury draw requests and illustrates that Fannie Mae has not requested a draw from Treasury since the end of 2011. The table next to that table shows that Fannie Mae has paid to Treasury over $136B in dividends, compared to the $116.1B it has drawn. Under the terms of the agreement, the payment of dividends does not offset prior draws.
· Fannie Mae’s 2014 Form 10-K, beginning on p. 25, discusses Conservatorship and Treasury Agreements. In particular, on p. 26, it lays out that Fannie Mae, through FHFA, and Treasury entered into a senior preferred stock purchase agreement on September 7, 2008. The agreement was amended thereafter, and the 10-K references those amendment dates. P. 26 further describes the agreement and discusses the connection between the draw amount and Fannie Mae’s assets and liabilities.
Fannie Mae investor department said look on 10K to determine where monies were spent or received
Can someone interrupt Fannie Mae 10K to determine where govt. draws were used?
Fannie Mae made draws from the govt. 15.5B 2008, 60B 2009, 16B 2010 and 25B 2011
When the courts rule that the sweep was illegal, then there's a matter of about 124 billion dollars that should be reimbursed to shareholders. 1.1 billion shares outstanding divided into 124 billion is about is about $1.12 per share in back dividends not including interest. What say you longs?
So the govt. gave FnF some money to cover what exactly? When was it used? Are you saying they used it in one lump sum? What about the real assets of those defaults, did they have value after FnF paid the defaults off?
The 5th Amendment requires the government to pay "just compensation" if it seizes someone's land for public use and the same principle applies to raisins
Judge Sweeney doesn't have a case involving the conservatorship, her case is the illegal sweep
When Lew said ""I would only add one additional thing to what I said earlier which is that the damage done to our economy by the housing crisis was far more than the simple amount of money that was put into the GSEs and I think Americans are still healing from the pain of that financial crisis". What is he trying to say without a specific figure in mind and is he blaming GSEs for all the total loses?
I personally haven't considered this aspect of wrongdoing by government but after considering it this the most damaging news for the taxpayers.
Read Investors Unite email just published