Fannie Mae-No Politics (FNMA)

[jcromeenes]

While calling the GSEs the next Lehman is ominous, I do like the way the article ends.

"Waiting on the Supreme Court

The fate of the GSEs now rests in the Supreme Court’s hands. The court heard arguments last month about the absurdity of loans that can never be paid back. The fourth amendment and the liquidation preferences add on to the burdens Fannie Mae and Freddie Mac will never be able to pay back.

It looks like the government is guaranteed a loss in the Supreme Court case, but it will be months before the justices release their ruling."