First of all, much of the current spate of litigation stems from investment professionals like Tim Pagliara, Gator Capital, Pension fund administrators and Insurance company investment managers that chose to gamble their client's retirement, pension and savings resources on highly risky investments at a time where reputable sources like Fortune Magazine and Barrons were sounding clear warning alarms. Then, when trouble began to emerge amidst fraud allegations and misstated earnings against both GSEs, followed by the emergence of "foreclosure sale" signs in yards-next-door all across America, we had the new entrant round of "investors" like Arnetia Joyce Robinson who thought they new better than the experts and bought, anyway. Goddam penny flippers!
If you make a bad investment choice, you take the write-off and move on to the next venture. But, NO, we have the "new normal" of recouping by hiring an attorney to SUE to conceal the "investors" role in the decision to buy the crap in the first place.
That's what has been going on, in a nutshell, for YEARS during the Fanniegate saga. There is a CRIME going on and it has nothing to do with any government wrongdoing. This is just Gordon Gecko-vintage Greed 101 wrapped in fancy legalese with a bunch of big legal eagles flapping their wings and trying to scapegoat the taxpayer for a huge settlement that they can skim for retained entry in the One Percenter Club.
JMHO.
