Gretchen Morgenson has a pretty good column in Sunday's Times about how the government is asserting presidential privilege to try to keep secret the records of its deliberations over seizing the profits of Fannie Mae and Freddie Mac:
In a Jan. 28 letter to investors, Bruce Berkowitz, Fairholme's managing member, questioned the broad sweep of the government's claims to secrecy.
"Why are F.H.F.A. and, particularly, Treasury resisting discovery so fiercely?" he wrote. "Is it because the document trail directly implicates some of the president's most senior advisers in the White House?"
Fairholme officials and their lawyers declined to comment further about the case.
The question that Mr. Berkowitz raised is more than fair...