Fannie Mae-No Politics (FNMA)

[401kobessive]

Couple of things GM was not put into conservatorship. It filed Bankruptcy. In order to be approved for bankruptcy, a judge must agree that it is impossible to pay your debts. FNMA is in a conservatorship. It is profitable and the Ceo said it would be for sometime. As far as the government being able to do what it pleases...They can inact new laws. They could pass a law today to take all of the GSEs and give nothing back to the shareholders that is true. It would require an amendment to the Constitution. That would require 75% vote in Congress. These constitutional changes only occur on rare events. That is by design. As it stands, I firmly believe that this will all be over with a bang of the gavel in a Federal Court room. Court Adjourned.