Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are two companies in conservatorship. They were placed into conservatorship in 2008 when the Federal Housing Finance Agency used its accounting authority to write down their assets so that they would take money from the US Treasury. In 2012, without further accounting losses available, and their reversal on deck, FHFA and Treasury reworked the deal so that Treasury would take the net worth of the companies quarterly via the Third Amendment. Equity investors filed lawsuits saying that what the government did was illegal for