Friday, September 09, 2016 9:35:01 AM
The multi-pronged legal attacks, from distinct plaintiffs I might add, means that if a quirky bench ignores one argument then there are a couple of others to carry the weight instead.
Tactically, discovery has been a god send, since although it may be stale for us it remains that when sent back to Lamberth he will be well aware that the government knowingly misled him on the facts -- as has now been documented by just a handful of released materials. Lamberth will not be a happy camper about being made to look a fool. Depending on guidance from the Appeals Court, Lamberth may be very far from the government's friend.
And we plausibly know why they do not want the Presidential stuff to come out. Either (i) their are explicit emails showing collusion and intent to avoid GSE's coming out of conservatorship and/or (ii) explicit knowledge of financial situation being better than publicly portrayed and/or (iii) explicit discussion of using the GSE revenue stream to fund the shortfall in funds for Obama care -- which looks VERY plausible. How would (iii) change Republican attitudes on NWS? I can see someone wanting to settle before we run through docs outlining (i)-(iii). Sweeney has given them a chance to be sensible, she will press on soon after Perry ruling.
So, I think putting all the eggs in one legal basket would have been rash. And I think discovery remains a huge positive and potential impetus to settlement. A positive Perry ruling would kickstart many other developments in other cases IMHO as well as sending some poor decisions flowing from Lamberth into the trash can.
Berko has been very well -- and expensively -- advised.
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