Replies to post #1123 on Fannie Mae Preferred S (FNMAS)

[europegoodold]

On the level of constitutional law, 90% of judicial work is "gut reaction" (Chief Justice Charles Evans Hughes http://en.wikipedia.org/wiki/Charles_Evans_Hughes ).

On the day that you're before the Supreme Court, just remind them of what FDR said September 30, 1934:

"The second step [the first being banking reform] we have taken in the restoration of normal business enterprise has been to clean up thoroughly unwholesome conditions in the field of investment. In this we have had assistance from many bankers and businessmen, most of whom recognize the past evils in the banking system, evils in the sale of securities, evils in the deliberate encouragement of stock gambling, evils in the sale of unsound mortgages. Evils in many other ways in which the public lost billions of dollars."

There should have been enough time to prevent the so called collapse of Fannie and Freddie in 2008, and not let someone like you pay the bill -once more.

P.S. Other monsters out there...stay safe everybody within the reach of "Sandy".