Fannie Mae-No Politics (FNMA)

[familymang]

You should read the Lamberth ruling more closely. He already addressed our concracts claim in context of takings vs contracts and why there are different expectations for both scenarios. He already assumed we lost the takings claim in his ruling. His key point is takings is vs the government and contracts claims is vs the GSEs themselves (GSEs would owe us damages if we win Lamberth), and while one could have expected the government to take everything, no one could have expected the GSEs to agree to such terms in exchange for “nothing”, which is why the GSEs themselves breached our contracts.