Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

In Lamberth's trial, the Gubmint Goon lawyers know that their Big Lie 'Death Spiral' narrative that they spewed to the clueless 9 Justices on the Supreme Court in Collins will be exposed by the full daylight in this trial.

Their new bogus explanation (they've got $332B and counting reasons to continue deceiving triers of fact) will be to play the 'restoring the confidence of buyers in the MBS market by implementing the NWS'.

Look for the folksy Gubmint Goon attorney to spew the "we had no choice but to implement the NWS to reassure investors that the federal government will be there" angle.

But that's BOGUS as well and likely will rebutted by:

(1). There has NEVER BEEN an EXPLICIT GOVERNMENT GUARANTEE on GSE MBS

(2). Starving the GSES of 1st Loss Capital and transferring $308B in CASH assets from the GSES balance sheets to the UST IS the EXACT OPPOSITE of restoring confidence for MBS investors.

(3). HERA'S primary mandate (as in all Conservatorships) is to PRESERVE AND CONSERVE their Wards assets.

(4). The intent of the NWS as demonstrated by the overwhelming evidence was to make sure the GSES never where returned to the shareholders.