Another reading could be that the housing market is already doomed independently of this suit, not as a consequence of it. So then, the suit could actually be part of a rescue operation of the GSEs to lift up Obama's image in the eyes of future voters. Healthy Fannie and Freddie may mean a large payout to tax-payers, eventually. Described as such, the big picture would entail a *morality* win: banks treated with scorn, wall street punished and tax-payers being rewarded. The opposite of what we see today.
Obama and De Marco might not be in discord after all. But the Treasury might.