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Tuesday, April 14, 2015 12:20:04 PM
http://www.heritage.org/research/reports/2014/08/five-guiding-principles-for-housing-finance-policy-a-free-market-vision
"5. Private Property Rights Should Be Respected.
Several lawsuits have complicated the dissolution of the GSEs.[6] In particular, disgruntled private shareholders of Fannie and Freddie have filed suit against the federal government.
The most serious of these claims is that the current practice of “sweeping” all earnings by Fannie and Freddie to the U.S. Treasury is unconstitutional. While this claim is not without merit, it should not be allowed to impede much-needed efforts to dissolve the corporations. Protecting property rights does not mean that taxpayers and consumers must continue to be put at risk by these economically dangerous institutions."
[6] See James Gattuso, “Taking Stock: Shareholder Lawsuits No Barrier to GSE Dissolution,” Heritage Foundation Issue Brief No. 4225, May 19, 2014, http://www.heritage.org/research/reports/2014/05/taking-stock-shareholder-lawsuits-no-barrier-to-gse-dissolution.
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