Fannie Mae (FNMA)

[FreezeThese]

One major theme from the call - removing the protected information designations from the discovery in the Faireholme case will significantly affect proceedings in the Iowa individual shareholders case as well as the appeal. Exposing the thousands of documents produced and/or some of the material unveiled in the depositions could prove to be vital ammunition for all parties opposing the Gov's actions.

Epstein commented that the Discovery was being conducted "in secret" - which in his words, "is unjustified".

Another aside from the professor,

The FHFA and Treasury have acted as one instead of acting in opposition to one another, as they’re supposed to...

Matt McGill, when asked about potential executive/legislative action which could be taken at this time to right the wrongs, responded:

The 3rd amendment was an executive action, an agreement between the Treasury and FHFA. A similar agreement between these two could undue the 3rd amendment and set things right again.

John Prior from political - "Have you [Matt] had discussions with treasury regarding settlement, and would you be open to one?"

Speaking for my client, we’re willing to discuss means of resolving the lawsuit. To date the Government has expressed no interest in that. At our very first hearing the judge asked the Government if they’d be interested in entertaining some sort of settlement discussions and the government responded no.

Matt McGill briefly touched on the appeal timeline

An oral argument is not likely to occur in 2015, 1st quarter of 2016 is probable. Whether the argument occurs in January, February, or April, we'd anticipate a decision towards the end of June, or July as is typical before the summer break.