$FNMA #FANNIEGATE
FHFA and Treasury filed their Joint Reply yesterday evening, and a copy of that filing is attached to this e-mail message. FHFA and Treasury (i) sing another round of "HERA insulates us from litigation," (ii) direct Judge Chang's attention to Judge Lamberth's decision dismissing Perry v. Lew, (iii) say the time to challenge the PSPAs expired in Sept. 2014, (iv) argue that HERA gave FHFA all shareholder rights, (v) tell the Court they have no duties to shareholders, and (vi) unfurl their capital classification flag one more time.
As previously indicated, Judge Chang has asked the parties to convene for a status hearing on Nov. 1 in Chicago.16-02107-0048
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Glen Bradford
Investor · Builder · Writer
MBA from Purdue. Former hedge fund manager. Holds 26 series of Fannie Mae and Freddie Mac junior preferred stock. Built Cloud Nimbus for Salesforce consulting. Author of Act As If. Writes about investing, building things, and the longest financial fraud in American history.
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