Fannie Mae-No Politics (FNMA)

[FOFreddie]

FFF - The JPS Plaintiff lawyers are not dumb - they are some of the smartest most qualified lawyers in the world. Their clients including Richard Perry are super smart also. The question is why didnt they challenge HERA and why didnt they bring up the Nationalization efforts by the GWB Admin? It really does not make sense since they probably knew the Barrons Nationalization memo was intentionally leaked? Maybe because they made a lot of money shorting finanical sector stocks - forcing the GSEs and other banks into default to collect on the CDS contracts and if they challenged the Conservatorship and HERA there would be a chance that legal discovery would have uncovered facts they did not want to be uncovered. My guess is that the BO guys knew what happened and came up with the NWS as sort of poetic justice.
None of JPS plaintiffs and their lawyers are dumb people - they are really really smart so the question has to be why they would go down a legal strategy that has ended up being very problematic?