Fannie Mae-No Politics (FNMA)

[kthomp19]

I expect the dismissal to be appealed, but this is a huge blow to the frothing-at-the-mouth "the entire conservatorship is illegal!!" crowd.

With Washington Federal gone, there will be no review of any government actions from 2008. No released documents either.

Unless the plaintiffs succeed in the appeal and get the dismissal overturned. But that's a long process, requiring briefs, responses, perhaps oral arguments, delays delays delays. I highly, highly doubt the appeal decision would come down before Calabria and Mnuchin enact the administrative reform they have been talking about.

I can see the government offering just the named plaintiffs (not the class members; the case hasn't been certified as a class action) a token amount to settle the case and remove the contingent liability to the government.