Fannie Mae-No Politics (FNMA)

[chessmaster315]

So, the race is on: Will the courts decide first, or the legislation? MY intuitive answer is the courts will decide first, because it takes just ONE judge to make a decision, where there are many, many people who have to agree to get legislation completed.

I would like your opinion, however, Obit. Are you familiar with the time frame of such judicial cases? We all know congress is not moving fast, if at all. Of course, on April 29 we may have a better idea if congress will move forward on this bill. However, that seems to be delayed as well, and the Senate Banking committe is already talking about a delay as there are apparently not enough votes.

Harry Reid may be a key on the legislative side, with Senator Brown also important. Harry Reid has already made his intentions known, and CWJC is unlikely to move forward unless there are 16 votes, not 12. I think Harry Reid wants a more substantial majority before he backs it, or it against it all together.

I also agree the politics in this is disgusting. Is it any wonder why congress has about a 12 percent approval rating, the lowest in history? Most of them are afraid for their own jobs.

I do think jobs IS the issue. Not the politicians jobs, I could care less if they have a job or not. Since most of them are worth 10 million, they can get by without a job. CWJC is a REAL job killer: First, there are thousands of fannie/freddie employees. Next, there will be mortgage layoffs, especially with those who specialized in FNF. Realtors and title insurance company layoffs will follow, and home inspection, home improvement, and home repair wont be far behind.
Of course, this would also spark a huge wall street selloff: Can you blame investors for not wanting to buy American Stocks when the government can just confiscate shareholder dividends and equity at will?
The jobs loss with CWJC would be millions and last for years if not decades.