$FNMA #FANNIEGATE
A group of three law and finance scholars delivered their amicus brief to the High Court this afternoon, telling the Justices the Third Amendment is a crooked deal and the government is not above the law even when it's donning its economic firefighter helmet. A copy of the brief is attached to this e-mail message.
Two more amicus briefs in support of the Collins Plaintiffs were filed this afternoon by:
* Doc. 12 -- Thomas P. Vartanian, with vast experience in FDIC rehabilitations and liquidations, says HERA' anti-injunction provision at sec. 4617(f) doesn't mean anything close to what the government says it does; and
* Doc. 13 -- Jones Day's Institutional Investor clients, focusing on the absurdity of the government's interpretation of HERA's succession provision at sec. 4617(b)(2)(A);
and copies of those briefs are attached to this e-mail message.
The High Court received amicus briefs in support of the Collins Plaintiffs today from:
* Doc. 9 -- Americans for Prosperity Foundation, urging a meaningful remedy for a violation of the separation of powers, meaning vacature of the Net Worth Sweep">Net Worth Sweep (and overrule the 1935 Humphrey's Executor decision);
* Doc. 10 -- New Civil Liberties Alliance, in opposition to the Court-appointed amicus who will argue FHFA's structure is constitutionally okay; and
* Doc. 11 - Pacific Legal Foundation, also urging the Court to overturn Humphrey's Executor so Congress may never again insulate independent agencies from presidential control and set aside the Net Worth Sweep;
and copies of these three briefs are attached to this e-mail message.
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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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