Law360, New York (August 11, 2016, 5:13 PM EDT) -- Any day now, a U.S. Court of Appeals is expected to rule on a suit brought by Fannie Mae and Freddie Mac investors against the federal government challenging the latter’s conservatorship of the two privately held and government-chartered companies. Its ruling will be made in the wake of some startling revelations. For years, the executive branch has hidden behind a wall of “executive privilege” and “protective orders.” As some documents have finally become public, the revelations cast an awfully bad light on the government’s concealment and highlight the necessity for transparency.
During the 2008 financial crisis, Fannie and Freddie were placed...
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