Fannie Mae-No Politics (FNMA)

[TII]

Ada, it took place in Sept. 2013. Here's a link to the video.

The Future of Frannie and Freddie: Conservatorship and the Takings Clause

One of the speakers is Randy Guynn. He was actually in the room when Freddie was put into conservatorship. I have spoken with him and he very much hopes that the 3rd Amendment doesn't legally stand. He thinks the 3rd Amendment is a big mistake from a public policy standpoint because if the government can change the terms of a deal in the middle of the FnF conservatorships they could do the same thing in a bank resolution proceeding. Understand, this is coming from a guy that his law firm represents the UST in the AIG litigation and he was involved in representing the FRBNY and UST on the rescue. So, he was somewhat on the other side of the table and even he doesn't think the 3rd should stand. That says all you need to know about the 3rd imo.