It's very easy (and convenient) to forget that where John Carney began in the Fannie Mae saga was in about the same place as Gretchen Morgenson, Bethany McLean, Anthony Sanders, Joshua Rosner, Charlie Gasperino and so many others... as critics of the GSEs "Wild West" behavior in the period leading up to the Financial Crisis. There was very little separating Carney from all the pundits that have followed this GSE adventure until the divergence that took place with Amendment 3.
The others, plus George Will, Richard Epstein, blah, blah blah mostly moved into attack mode against government over the sweep. Their right to do so, by the way. Carney, on the other hand, has remained steadfast, alongside Joe Light, in demanding a conclusive reform measure be enacted because the broken under-lying system of both GSEs is corrupt and exposes the country to enormous eventual risk. They, too, are entitled to hold their different opinions.
My point is that I doubt Carney has any victory article at the ready to celebrate the loss of plaintiffs in any court of law. His victory comes when Congress either gets off its fat butt and does something to fix a huge, perceived mess... or gets its hand FORCED to do so by some event like another financial or housing crisis. Carney's motives are not as impure as his critics like to opine with vehemence. He is, perhaps, the only,truly principled critic of the GSEs whose position has been consistent and unchanged over the span of the last decade.
JMHO.
