Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

The Pacific Legal Foundation Attorney, Christina Martin at yesterdays SCOTUS Oral arguments (3rd Paragraph of Opening Statement):

"The county apparently does not dispute
that Ms. Tyler had a property interest in her
former home or in its value. Instead, it
asserts that the government may redefine private
property by statute. The consequence of that
would be an unlimited power to define away
private property and to confiscate it to pay
debts, no matter how valuable the property or
how small the debt."

"And while the government can redefine
the boundaries of property rights with things
like statutes of limitations, what it can't do
is outright confiscate property. Just like the
Court held in Phillips, there was a deeply
rooted traditional right that while states had
carved out exceptions through rules like the
IOLTA programs, that, nevertheless, the
government would not be allowed to carve out
this self-dealing exception."