Replies to post #135944 on Fannie Mae-No Politics (FNMA)

[celtic tiger]

This is where courts tend to follow previous court decisions as the law should be seen to be consistent. The courts tend to avoid making new law as that is a matter for the legislature but where public policy dictates or untested issues arise such as this unique set of circumstances,I could certainly see the courts intervening decisively in favour of the small shareholders where their company has paid back the bailout and the recent revelations re the culpability of the banks is coming more to the fore.

[obiterdictum]

A legal precedent is a judicial decision that may be used as a standard, model, legal rule or authority for judicial judgments in the future for identical or similar cases having the same legal question of law.