OIG May 24, 2012 Document $FNMA

The Acting FHFA Director noted in a September 2011 speech: “It ought to be clear to everyone at this point, given the Enterprises’ losses since being placed into conservatorship and the terms of the Treasury’s financial support agreements, that the Enterprises will not be able to earn their way back to a condition that allows them to emerge from conservatorship.” Federal Housing Finance Agency, Statement of Acting Director Edward J. DeMarco (Sept. 19, 2011) (online at www.fhfa.gov/webfiles/ 22617/NCSpeech91911.pdf).

page 15

http://fhfaoig.gov/Content/Files/FannieMaeandFreddieMac-WheretheTaxpayersMoneyWent.pdf