$FNMA #FANNIEGATE
I was unaware, until reading the reference in this week's opinion from the Federal Circuit, that Mr. Sammons had commenced a parallel proceeding in the U.S. District Court for the Western District of Texas. Mr. Sammons attempted to circumvent the Tucker Act which shuffles many claims against our government to the U.S. Court of Federal Claims when the amount in controversy exceeds $10,000. Mr. Sammons' litigation in the District Court did not fare well. The Honorable Fred Biery dismissed his complaint. Mr. Sammons has filed a notice of appeal in the District Court indicating that he intends to ask the U.S. Court of Appeals for the Fifth Circuit to review Judge Biery's decision.
Copies of the key documents are bundled into a zip file, are available at http://bankrupt.com/misc/Sammons-v-US.zip and don't appear to offer anything we haven't already read.
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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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