$FNMA #FANNIEGATE
14-5243-1602442Treasury filed its Final Brief in Perry v. Lew this afternoon, arguing that Judge Lamberth's decision should be affirmed. A copy of Treasury's Final Brief is attached to this e-mail message. Treasury recycles many arguments we've read before. Starting at page 50, Treasury says (i) it has no fiduciary duty to the GSEs or their shareholders, (ii) GSE shareholders have no contractual claims against Treasury, and (iii) no purpose would be served by supplementing the Administrative Record or anybody looking at any of the materials Fairholme has lodged with the D.C. Circuit.
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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.