Freddie Mac-No Politics (FMCC)

[pablocruize]

"The lawsuit – filed June 10, 2013 -- alleges that the U.S. government violated the Fifth Amendment of the U.S. Constitution when, in 2008, it imposed conservatorships over Fannie Mae and Freddie Mac – both private, shareholder-owned corporations – and allegedly destroyed the value of stock held by shareholders without due process or just compensation.

Prior to the U.S. government imposing conservatorships, Fannie Mae and Freddie Mac had operated successfully for decades. Then, according to the lawsuit, the U.S. government took control of Fannie Mae and Freddie Mac away from shareholders and directed the companies to purchase subprime and other risky mortgages, leading to significant losses."

Seems straight forward as a legal case. The whole question is will Obama and Congress "get what they want" (maybe get what they deserve) or will a court put the kibosh on illegal and unjust seizure of shareholders property.