as for confirmation bias, I think this is one of the least understood aspects of behavioral finance. of course we have confirmation bias...we are hard wired by evolution to act with confirmation bias. using present evidence to confirm prior tentative conclusions kept us alive on the savanna.
now as for finance, if you have developed conviction in a position, of course you will have confirmation bias to place more weight on "good" news than "bad" news, because all news fits into a narrative that you have constructed regarding an investment, and if "bad" news destroys your narrative then your conviction was weak. if bad news accumulates to the point where your conviction is not weak but no longer understandable to you, then you need to adjust.
the GSE narrative is a very difficult one, more difficult than i had thought. but if my conviction is (essentially) TINA, the administration wants GSEs out of conservatorship, and the NWS is invalid, a little delay in producing the potus memos is not going to destroy that narrative for me, and if it did, then the conviction was weak. nothing wrong with having a weak conviction, just move on without casting potshots at those who dont