Fannie Mae (FNMA)

[kabanch]

From the TH blog


In Pershing Square Holdings 3Q letter, Bill Ackman wrote the following:
“In light of the inherent uncertainty of the situation, our combined investment in the two companies represents about 3% of our capital at current market values.”
Then yesterday he mentioned going to the Supreme Court if need be.
I don’t think he is expecting a speedy resolution.
REPLY
Anonymoussaid:December 18, 2014 at 7:51 am
Courts are funny like that. They could settle tomorrow or drag on through appeals. Being prepared to take this to the Supreme Court was not a game plan but a statement of dedication. PS, Even the Supreme Court route would not be years, IMO. The most time consuming aspect, Discovery, will be transferred over to the Supreme Court. In addition, as I have stated before, I believe the gov wants to lose but are in Courts to delay until they are done and that is fast approaching. A settlement is, IMO, the recapitalization and release plan. No politician could halt a court settlement or ruling and that would end the sweep, recapitalize, and force release. The sweep was designed for this. Think about it. It is illegal after it takes more then it is supposed to and they knew they it would be challenged in court. They are done with everything on Watt’s o do list and the only problem is solvable with a court ruling in our favor.