Handfuls of Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) shareholders have filed lawsuits against the U.S. government claiming the Treasury acted illegally when it amended the terms of the companies' deal with the government in 2012. A judge recently chose not to dismiss the case and allowed the proceedings to move forward. Is this the best possible option for shareholders to benefit while the operating companies remain under FHFA-run conservatorship?

In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson debate this notion and tell investors why waiting on the government to act could take years and the lawsuit may play out quicker.