Fighting Through Fannie, Freddie Redactions — Market Talk
DOW JONES & COMPANY, INC. 11:18 AM ET 1/27/2016
12:18 ET – Major investment firms are in the midst of litigation against the US regarding Treasury and the FHFA’s 2012 decision to sweep all the profits of Fannie (FNMA) and Freddie (FMCC). One case, brought by Fairholme Funds and others, is in the midst of discovery and depositions–but many documents have been filed under seal or in heavily redacted form. The government has also sought to keep certain documents from disclosure to all parties, citing executive privilege. Created is a void of information, often filled with speculation. An anonymous blogger last week reported Jim Parrott, a former White House official, asserted the 5th to avoid answering hundreds of questions, sparking a flurry of speculation. DoJ spokesman Patrick Rodenbush says Parrott was deposed a week ago and didn’t invoke the 5th. (joe.light@ wsj.com; @joelight)
(END) Dow Jones Newswires 01-27-161218ET Copyright (c) 2016 Dow Jones & Company, Inc.