Fannie Mae-No Politics (FNMA)

[FOFreddie]

When did you read the Statute No Name? You have been hawking the US Bankruptcy Code for months so perhaps you read it yesterday?

It will go down like this:

1. The NEC and UST will decide if they want to exit
2. They will confer but basically tell the FHFA what they want to do
3. They will ask the Civil Division of the DOJ to write a Memo justifying a compromise of debt under 902.2
4. They will let JB know how it will help him politically if he still is Pres.

No Attorney General is going to get in the way of the UST Secretary or the Chair of the NEC. Lawyers work for Clients and Clients make the business/policy decisions. Yes - this will be perfunctory.