Under Economic Facism, the Gummint can do any damn thing it wants.. including disregarding laws and constitutionally guaranteed rights.
FNM and FRE's boards each approved the deal. Of course they did that under the threat of FHFA declaring them undercapitalized...
Buffett: (Laughs.) No, I don't think there's much to get back into. We were with them, like I say, I think we owned 8-1/2 percent or so of Freddie Mac in 1999, but they unfortunately followed the course of Mae West when she said, 'I was Snow White, but I drifted.' (Laughter.) Both Freddie and Fannie not only drifted, I mean, they were blown away. Cont, on link http://www.cnbc.com/id/26606876/site/14081545
Another take on the issue of the gov't takeover: Holders Have Little Chance to Win Relief http://online.wsj.com/article/SB122092385451113169.html?mod=hpp_us_whats_news