Until the new lawsuit Gatling gun started firing out a carpet bombing of filings, a settlement was the best resolution to ALL the original complaints filed by Perry, Berko and Ackman. I think we all came close on that on more than one occasion. But Gary Hindes fired the first complicating volley, followed in rapid succession by a state-by-state initiative towards a class action bonanza, followed by desperation moves against first auditors and then GSE directors... leaving the path to any settlement cluttered by so many plaintiffs with conflicting goals as to make a consensus the new impossible dream. Even the Investors Unite campaign seems to have fractured as Pagliara strikes out on his own.
I actually like Glen Bradford. I disagree with him on a lot of his Seeking Alpha stuff, but he has done more DD on FnF than even I likely have, so I do respect that... and at least most of his views. But even his reports have moved towards an almost dark and defeatist tone this week.
The Cacheris ruling is a major blow to plaintiffs goals. Especially layered on top of the earlier Pratt ruling that only I chose to introduce when no one else EVER mentioned its relevance despite the precedents contained therein.
It is setting the stage for an "each man for himself" legal showdown where the government's defense stands united while the plaintiff's legal complaints are now a disconnected and conflicting mess with so many mutually-exclusive counter-pointed goals as to make any unified offensive campaign impossible.
JMHO.
