Fannie Mae (FNMA)

[Ripcord01]

Yes but every time these lawsuits go forward...The Government has to defend them. Even with all the lawyers they have on retainer it is just going to keep costing the government to defend against the lawsuits.

The more the real facts get exposed the more people with legitimate claims will come forward to make claims against the government. One person alone cannot fight city hall, but the majority of the population can.

The other aspect is that these lawsuits will eventually gain traction whether they win or not. I've already started to see the new coverage change its tone toward FnF a bit.

When people finally comprehend that FnF "borrowed" money not because they needed it save their current assets but rather to buy all the assets the private sector lost their shirts on it will become apparent that FnF were the saviors to the housing crisis and not the enemy.

The analogy I want to use is that the housing market/us population were the patients and FnF are the docters trying to get the patients back to health. However, in this case the patients are extremely scared of needles. Especially, when the people are told they have no choice but to take the shots. How dare you administer drugs without my consent? How dare you quarantine me to keep me from infecting the rest of the population? We did nothing wrong. We just woke up and went to work and got fired/let go. When FnF bought all those toxic assets through repurchases they had to cauterize the wound. They had to foreclose on people. They had to force people out of their homes. They had to tell people their credit was not good enough. They had to give many people a dose of reality they were never able to afford the home they bought in the first place.

But now the majority of the patients are stabilizing/recoverying. The fever is breaking. They are gaining back their senses and taking control of their lives. They are making hard choices and re-examining what transpired to get them to this point. The are coming to realize that much of what transpired actually saved peoples lives. This is coming to light and the people who were the cause of the illness are being identified. Fines are being levied. Settlements are being made. Lessons are being learned. Maybe crucifying the doctors is not the right thing to do.