Fannie Mae-No Politics (FNMA)

[Achilles deFlandres]

The entire recording was interesting but what amazed me is the substitute closing statement focused on the obvious that has seemingly escaped the entire argument. The closing statement : the right to dividends and the ownership of liquidation preference are the shareholders and they were both tra served to UST, not diluted with new money. How it took 8yrs to say that in court is beyond me. I don't blame the attorneys who know what they are suing for. The judiciary apparantly are operating in the space of needing proof the government actually can't do anything it wants to. At least they recognized the conflict of interest in only the FHFA can sue the FHFA.

How we got to this place where middle bureaucrats can trump the constitution is beyond me. Everyone in DC should have term limits for service along with a total service limit so that we get new clowns every few years.