Just curious why you think Ben's testimony could be rocket fuel for fnma pps. I don't disagree necessarily. But I assume his testimony will consist of him hammering on his point that the gvt taking over fnf was necessary to prevent the earth from exploding, etc. And he might be forced to describe some of the unconstitutional behavior in some detail.
So, is it your opinion that such testimony will serve to boost the likelihood of the current shareholder lawsuits' eventual success against treasury, and thus also boost fnma pps? I would agree with that, but it would boost longs' hopes mostly. And I can't think of any other reason Bernanke's testimony might directly boos fnma and fmcc pps.
Maybe if enough nasty details come out, the political will to dissolve the GSEs will diminish, as the public realizes that 2008 wasn't fnma's fault. But then, we know the public doesn't care about these arcane things much. They like beer summits and glamour. Anyway, does your view on Ben's testimony match mine at all?
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