I don't think they can , but that doesn't mean that they Corker,
Warner , Jack Lew think they can get away with it. Maybe they think they can get a one-off because the us gets a one -off and they have poisoned the reputation of the gse's enough.
I remember at one seminar Richard Epstein is asked why fight the fifth adm fight over the corrupt government corporations Fannie and Freddie. Of course first he correctly responds if they get away this where will they stop. Of course I don't agree with the smear campaign against the Gse's but that is what we are up against.
Again the real piece of absurdity is that they will agree that the only new mortgage system that can pass the house and the senate is the old system.
So the most important thing is the illogical changing the name and robbing the old shareholders simply for political vendetta and probably keeping the same structure. It's interesting that only Senator Toomay was the only to bring up this reason against Johnson -Crapo. Lot's of others were against it, but just because it was too much government or not enough.
I think if they had just proposed changing the name and liquidating fnf, then creating the same thing with the new name -I think that would have passed by enough of a margin. It's absurd but it would have passed.
The real question will be how private capital responds or whether these idiots understand that winning the court cases(if they do) will win them the battle but lose them the war. I wonder how many judges know anything about financial accounting and economics and will any of them get to decide the court cases.
