Fannie Mae-No Politics (FNMA)

[FOFreddie]

My thoughts are that if the COFC suits before Sweeney survive, they would be best served by a Judge that understands that the foundation for the Unjust Enrichment started with the GWB Administration. The Mike Kelly facts and equitable considerations are extraordinarily compelling. He really got screwed for doing the right thing. Sweeney should have let the Direct Claims survive and it would have been harder for the DC Circuit to overrule her - she is on her way out - Judge Davis has a whole legal career before her and perhaps has larger aspirations.

Again - we will see and it all of this is a long shot.