$FNMA #FANNIEGATE
The government filed its omnibus motion to dismiss GSE shareholder cases pending before Judge Sweeney, and a copy of the filing is attached to this e-mail message. The government says the lawsuits should be dismissed because Judge Sweeney lacks jurisdiction to entertain them for a variety of reasons we've mostly heard before. At pages 46-47 (PDF pages 69-70) the government presses it's distinction between GSE shareholders acquiring their interests before and after the Net Worth Sweep was imposed. At page 58 (PDF page 81) the government explains that shareholders' lawsuits pending before Judge Lamberth demonstrate that the government didn't take or appropriate shareholders' contractual rights. At page 80 (PDF page 103) the government says Washington Federal had a 30-day window in 2008 to challenge FHFA's appointment as the GSEs' conservator that closed long ago. 13-465-0411
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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.