Fannie Mae Preferred S (FNMAS)

[rosen62]

"this is about our capital markets, this is about the economy"

Only my personal opinion. I think lawsuits contesting the c-ship have little chance in light of what happened afterwards. C-ship did save the economy as it allowed FF to function as a backdoor bailout mechanism. What is at odds with the general rescue at the time is the 10% dividend, which implies that there was something else at issue. Not just saving capital markets and the economy.

The 2012 sweep is a different story. But even then, we will have to overcome any bias by courts to confer government some kind of sovereign power to deal the cards anyway it wants.