Fannie Mae (FNMA)

[big-yank]

Gary Hindes previous legal "enterprise" dragged on for 20 years before he got a settlement with FDIC. Makes no difference where this case is heard, who the judge is or what former judge represents Hindes. This is a hugely complicated case with far bigger numbers hanging in the balance. Think this will be resolved in 6 months? This won't be resolved in 6 years, unless it just gets tossed out. In the BEST case possible, a stay order could force Amendment 3 funds to be escrowed and then reviewed in Delaware Chancery Court. Then come the appeals.

http://prnewswire.com/news-releases/hindes-featured-in-new-book-by-former-fdic-executive-300182740.html

For the common shareholder, if the Delaware complaint somehow prevails, Hindes will go down in history as the person most responsible for winding down the GSEs and liquidating them as government concludes Fannie Mae and Freddie Mac are no longer worth preserving.