This is just political side show and won't get anywhere and means nothing. The court will decide and give them cover to reverse course. I hope the court will have enough integrity to enforce the law. Otherwise, it will be sad day for this country and everyone should stay as far away from the government as possible.
Greater good has NO bearing on the Taking Clause. The first case won against the government was against the US Navy for war efforts. No greater good than that for a government. But government still needs to pay for it. If it is for greater good, the nation should shoulder the costs, not just a subset of people.
It is all George Bush's fault. At that time, anyone except a child rapist would have won. The Republicans were losing even the hedge fund crowd.
One step further, it was Hank Paulson's fault. He blatantly picked sides because of his close tie to GS. he used the government's power to help take down the GSEs, thus opening the flood gate. So even the Wall Street crowd on the losing side turned against the Republican.