Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

JUSTICE KAGAN: Does that mean,
Mr. Thompson, that we have to do a great deal
more than invalidate the -- the -- the Third
Amendment and everything that follows from it?
I mean, why shouldn't we go back to the -- the
-- the -- the -- the First or the Second?
MR. THOMPSON: Well, Your Honor, we
focused on the Third Amendment because that's
the -- the feature of this that rearranged the
capital structure, but, as we made clear to the Fifth Circuit Court of Appeals, we are perfectly
content with all of these arrangements, which,
as we say in the complaint, were a concrete
life-preserver. It's like getting a credit card
with a double-digit interest rate that you can't
repay the debt on. It's not debt, but you can't
pay the money back, and so --
JUSTICE KAGAN: Thank you,
Mr. Thompson.
MR. THOMPSON: -- we would be
perfectly content with it being thrown out.
CHIEF JUSTICE ROBERTS: Justice
Gorsuch.