$FNMA #FANNIEGATE
The Clerk for the Eighth Circuit released the Saxton Plaintiffs' reply brief today, and a copy is attached to this e-mail message. The Saxton Plaintiffs include a chart on pages 15 and 16 showing that FHFA and Treasury's justifications for the Net Worth Sweep do not agree with the factual allegations in the Saxton Complaint. As a result, the Saxton Plaintiffs argue, Judger Reade's dismissal of their lawsuit should be reversed and the District Court should review evidence in a trial to determine which version of the story surrounding the Net Worth Sweep is correct.17-1727-0020
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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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Read moreDisclaimer: This blog post reflects the author's personal opinions at the time of writing and is not financial, investment, or legal advice. Glen Bradford holds positions in securities discussed on this site. Past performance is not indicative of future results. Do your own research and consult qualified professionals before making investment decisions. Some content on this site was generated or edited with AI assistance.