Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Great point: "But the August 14 jury verdict in the D.C. District Court will be harder for Treasury to ignore, and it also opens the door for more “truth telling” about its and FHFA’s treatment of Fannie and Freddie, most notably the internal memos among senior Treasury officials admitting that they did know Fannie and Freddie were about to enter a period of “golden years of earnings” because of the reversal of their non-cash expenses, and that Treasury intended the net worth sweep to keep them from retaining those earnings to recapitalize. While these memos were not admitted as evidence in the Berkley Insurance case because Treasury was not a defendant in it and the judge ruled them to be hearsay, the memos do exist, and they will be very difficult for Treasury to defend."