Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

Here is a charlie harrison piece that has a similar Judge Sweeney quote from August 2014.

http://seekingalpha.com/article/2545255-fannie-mae-judge-sweeney-wants-discovery-on-whether-fhfa-was-directed-to-enter-the-sweep-amendment

Here is the language in the transcript.

1 THE COURT: I will just -- and, again, I’m not in
2 any way determining something in a vacuum, something that I
3 have -- the specifics I haven’t seen. But the whole purpose
4 of this exercise, what’s before me now, is to allow the
5 Plaintiffs to have their day in court and for them to have
6 the opportunity to explore whether or not the United States
7 Government, whether we’re talking about Treasury or whether
8 it was -- and I’m just pulling this out of the air -- the
9 White House, whoever it was, whether they directed the
10 conservatorships to take certain actions, whether they were
11 really the guiding force and, so -- and, therefore, they
12 really were not independent or they really are for -- at
13 least for purposes of the net worth sweep with the third
14 amendment, acting at the direction of the United States
15 Government.
16 If they were taking -- if the conservators
17 were taking their marching orders from within the United
18 States Government, regardless of branch, whether you’re
19 talking about the executive -- so -- or, you know, I can’t
20 imagine that -- or whether it’s Congress, I just don’t know,
21 working in conjunction with the White House or Treasury,
22 whatever it might be, then that information has to brought
23 forward.
24 Now, if the fact that it would be subject to the
25 protective order and it wouldn’t be publicly available, you
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Fairholme Funds, Inc., et al. v. USA 8/13/2014
[phone] - www.ftrinc.net - [phone]
For The Record, Inc.
1 know, no one can set up a website, click here to find
2 whatever document, no one leaks it to the press, or to
3 anyone, then that information has to be provided to the
4 Plaintiffs because it’s not fair for the United States
5 Government to say to the Plaintiffs, you know, Freddie
6 Mac, Fannie Mae are independent, there was no exercise of
7 control.
8 And if the Justice Department receives documents
9 from these two agencies, the conservators, showing in fact
10 there was control, that’s hiding the -- I mean, I know three
11 very fine attorneys, people of integrity, but I’m just
12 saying, if that’s what you -- and you probably haven’t seen
13 all the documents. But if you’re -- I don’t want
14 instructions to be given to clients or to these entities that
15 they don’t have to produce certain documents if, in fact,
16 it’s going to answer the question, were these entities part
17 of the United States Government. Were they controlled by
18 Treasury? If that’s what the documents show, I realize I’m
19 preaching to the choir saying that, you have to turn it over
20 to Plaintiffs.
21 So, if you’re invoking privilege to block the
22 Plaintiffs’ entryway into the courthouse door, you can’t do
23 it. I know you know that, but you can go back and tell your
24 clients I said so, and that might either make their life
25 easier or more difficult or perhaps both, depending upon
44
Fairholme Funds, Inc., et al. v. USA 8/13/2014
[phone] - www.ftrinc.net - [phone]
For The Record, Inc.
1 which issue you’re discussing.
2 But, hopefully, that will help your discussions
3 with the Plaintiffs -- excuse me, with the United States, and
4 it -- hopefully, that helps. If it doesn’t, I’ll see
5 motions, and that’s fine.