Fannie Mae-No Politics (FNMA)

[Louie_Louie]

Barron,
Biggest worry with trying to go after treasury for not getting Congressional approval for a backing is the courts would just point to the old charters and say treasury backing is stated there. The old charters have not been replaced by Congress so they are still in play. The backing by treasury has always been implicit and not explicit and is what they will shoot down any case filed against treasury with,,for sure. They will fall back on that implicit/explicit textural mental gymnastics to explain away how treasury is allowed to bypass congressional budgetary requirements, I have no doubt.