Fannie Mae-No Politics (FNMA)

[LuLeVan]

You have a very pragmatic view, which is appropriate if one wants to profit from (political) developments as an investor.

A big problem, however, is that the Supreme Court, with its recent decisions on Fannie and Freddie ("NWS was not a taking"), is putting itself above the U.S. Constitution, which provides that the state must pay damages to the expropriated in the event of nationalization. If politics and the courts increasingly allow arbitrary decisions and this becomes the new maxim of the state, the political system may drift toward dictatorship, and at worst even toward fascism.

As an individual, one may benefit from these developments. For society as a whole, this tendency is alarming and ultimately not desirable.

As bizarre, incomprehensible, and stupid as I think those rulings are (and I know I am not alone in that opinion), that's the reality we have to deal with.