[dragonwriter]

> I believe this does not include most of the mortgages. For example, Fannie Mae has 3.35 trillion in assets, which dwarfs total student loans.

Fannie Mae is a publicly-traded, privately-owned corporation, despite being federally chartered for a public mission.

So, yes, their holdings are not counted in government holdings, because they aren't the government.

[zeusk]

Fannie Mae and Freddie Mac are currently under the authority of the Treasury, since the TARP program.

Which is why, their stock is worth a lot less than even their own book value.

[acover]

You are right. There is an implicit government backing though with a line of credit from the US Treasury.