Fannie Mae-No Politics (FNMA)

[DaJester]

"Again, the jury verdict had NOTHING to do with Treasury"

Blah, blah.. Broken record. Yes, you are correct the implied covenant is not with Treasury. That's really not the point. Treasury and the FHFA were not operating at arm's length. The agreement was constructed with both parties in bed. The predatory nature of the contracts were not the fault of the GSEs; it was FHFA and Treasury. Everybody on this board knows this. Why you are even arguing this point is ridiculous.

I haven't heard anyone argue that FHFA constructed the best possible agreement they could, and it just happened to create a windfall for Treasury. This ENTIRE CHARADE is designed by all government parties involved to siphon money to Treasury (and attempt to completely shut down the GSEs). When/if another shareholder breach occurs, which I expect it will... It will be easier to call out the raping and pillaging of the shareholders because 1 jury has shined the light on the behavior.