Fannie Mae-No Politics (FNMA)

[Sogo]

And #1 had worked very effectively. Only hedge funds have taken big enough stakes in commons to have any impact at all on the possible enforcement of the law. Some Hedge funds with commons have sued. Well the TBTF/DC complex knows that that's not much of a threat bc of how long it takes and it could even go their way. Plus, politically m, hedge funds are the furthest thing from a "protected class"! Politicians would die for any chance to bash "evil capitalist hedge funds". They can even use the phrase "wall street" when referring to "evil hedge funds". So hedge funds advocating for shareholder rights is not much of a problem for the TBTF/DC complex.

They basically "capped" the performance of GSE commons by delisting them, and gave themselves a clear path towards "reform" with only a small concern that some rogue judge might...just might....after 5 or 15 years...rule in favor of the hedge funds that hold commons. At that point, there is always...the APPEAL! And the TBTF benefit by the additional delay and chance to win in Appeals court. If the TBTF/DC complex totally fails at SCOTUS level after 10-15 yrs, then heck, they still haven't "lost" anything bc they never had the GSEs' business to begin with! This is all chess being played with years between moves and a decades long view of the 2nd larger bond market in existence. That's how TBTF sees this. To them? Hedge funds are gnats at their picnic.