Yeah, sure. The problem that has evolved is which conspiracy theory is correct as the motive for the crime? Is it the one whereby TBTF banks were being primed to appropriate the GSE's business? Is it the one where hedge funds manipulated the crisis for short gains? Is it the one that claims Senators steered the controversy so they could short GSE stock for huge personal gains? Is it the one where Obama took the money to pay for ACA? Is it the one where Trump-supporting funds are manipulating the process for personal gain? Ad nauseum...
The rush for litigation and settlement rewards has, I fear, so muddled the resolution process due to so many claims for motive that the courts have no clearcut path to rule on right or wrong because no two claims are the same.
At the root of the dilemma was the rush to judgement that commenced under Perry and surged forward under Fairholme where major litigations were launched with no proof, just conspiracy theories whose fate hung in the balance of discovery... something the government, predictably, would never cave into without a fight (as events later proved to be fact).
If this is EVER to be resolved in any timely manner the VICTORY DANCES and "back up the truck" celebrations over one case or another need to go away and the compendium of litigants needs to pool its campaigns into a unified and singular campaign that states ONE cause, One effect that violates the law and ONE remedy that will satisfy claims without crippling the domestic economy.
That is the way shareholders break through the ruse of resistance and get a successful outcome of at least some significant dimension. All of this garbage that pits Fannie shareholders versus Freddie shareholders, common shareholders vs. preferred shareholders, legacy shareholders vs. current shareholders, etc. only confuses the courts and also the messaging sent legislators who have basically surrendered trying to get a reform bill out of committee and on the floor for debate.
My opinion.
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