Fannie Mae Preferred S (FNMAS)

[CatBirdSeat]

DejaVu , Shareholders like these Indian beneficiaries?

https://www.law.gonzaga.edu/law-review/2011/09/07/an-unbroken-chain/


"The government had simply ignored court orders dating back over two years, severely hampering the plaintiffs’ case.[83] The government admitted, in fact, that they were not in compliance with the court’s November 1996 and May 1998 orders for the production of documents.[84] Indeed, after the court scheduled the contempt trial, the defendants produced over 9,000 pages of documents that had been ordered two years earlier.[85] But there was more. Although the government had entered into an express agreement to preserve documents and materials relevant to the case, it ignored this obligation. Several months of microfiche went missing, and Treasury lost or destroyed 8,000 cubic feet of potentially relevant documents.[86] Shoddy record-keeping only accentuated the problems."

And,

"The court is deeply disappointed that any litigant would fail to obey orders for production of documents, and then conceal and cover-up that disobedience with outright false statements that the court then relied upon. But when that litigant is the federal government, the misconduct is even more troubling. The institutions of our federal government cannot continue to exist if they cannot be trusted. The court here conducted monthly status conferences where plaintiffs complained that the government was not producing the required documents. Because of the court’s great respect for the Justice Department, the court repeatedly accepted the government’s false statements as true, and brushed aside the plaintiffs’ complaints. This two-week contempt trial has certainly proved that the court’s trust in the Justice Department was misplaced. The federal government here did not just stub its toe. It abused the rights of the plaintiffs to obtain these trust documents, and it engaged in a shocking pattern of deception to the court. I have never seen more egregious misconduct by the federal government. In my own experience, government lawyers always strived to set the example by following the highest ethical standards that were then a model for the rest of the legal profession, and the Justice Department always took the position that its job was not to win an individual case at all costs, but to see that justice was done. Justice has not been done to these Indian beneficiaries."