Fannie Mae-No Politics (FNMA)

[big-yank]

I have a lot of respect for Sweeney's ruling. I said that yesterday. That said, yes a lot of content from 2008 will be released. Of the 4 Black Rock doc's viewed in camera, 3 are dated in 2008 and one was deemed to be in the same pre-decisional timeline. So, yes, insight will be gleaned from the early days. It's now guaranteed.

The part I just can't quite fathom is her determination that the plaintiff's "need to know" outweighs any need for protection because the information would be otherwise unavailable (my interpretation, not her words). That Black Rock stuff was in 2008 in the midst of a global financial crisis. How valuable would any projections from 2008 be to an Amendment 3 decision, 3+ years later? There obviously were later projections that are far more relevant to Fairholme's complaint which has little-to-nothing to do with the original 2008 conservatorship.

And,sure,I've read many conspiracy theories that claim the whole Fannie/Freddie enchilada spans pre-conservatorship into the sweep timelines in some master plot to benefit big banks/big donors. I've read them. I think they are all bunk. One of the things I really hope comes out of all these documents is some definitive end to such dialog. It's as boring as all the Obama Birther crap.

JMHO.