Fannie Mae Preferred S (FNMAS)

[brandemarcus]

The argument (hamilton) still applies. Senator Toomay (today)wonders how you are going to get private investors in the new mortgage market and at what interest rate if this is how you treat past investors. It's the same Hamilton argument about how you preserve a credit rating.
The judges can rule what they rule, but in 10 years it's about how you attract those private investors. You are not going to attract them if the Lambreth precedent is allowed to stand. No big government backstop passes the Shelby Senate. It's stalemate for any mortgage reform for a long time until they figure out how to do the right thing. We will see how long their stupid vendetta will outlast the need to do something on mortgage reform.
You are right that many of us underestimated how long it will take for logic to prevail.