Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

The Government is doing their best to paint a picture of Demarco having to make a quick decision as the Treasury Commitment expired on 12/31/12, they were worried about the 'circular draw' problem and that the 'market was getting nervous' that the US Treasury Commitment would run out, no one at FHFA was sure that the DTA would be reversed or that the already booked Accumulated Loan Loss Reserves would be reversed and the future was uncertain.

Susan McFarland said yes the 'golden years' are arriving but Freddie's clueless CFO wasn't exactly sure.

Plaintiffs Class Attorneys have done a great job refuting the Government here, but mortgage banking is a dry dry dry subject and some of the discussions may be going over the Jurors heads. We'll know shortly.

I would imagine the Jim Parrot Salt the Earth with the Shareholders Carcasses memo after 10 years of pre-trial litigation was excluded from trial for legal Evidentiary motions that may have something to do with the fact that UST is not a party in this particular Implied Breach of Contract case and their motivations may not be relevant in a Contracts case against the Corporations and the FHFA in its ACTING capacity as the Conservator, but I haven't looked into it.