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Friday, November 18, 2016 11:58:34 AM
Was FHFA genuine and operating in solvent manner – obviously not if every nickel is given away as Judge Ginsberg noted. Government says companies were in death spiral but this is nonsense because they have generated huge profits – and Government itself knew this – Fannie CFO told them right before net sweep that they were massively profitable
Treasury imposed net sweep and HERA prevents that
Treasury exceeded authority for proceeding new securities after 2009 when net sweep happened in 2012.
Breach of fiduciary – self dealing for no consideration – its classic breach
Breach of contract – Right to liquidation preference and dividend stops on common and they are still doing it. Tres is paying itself dividends
Breach of good faith – No one would give them $33B they raised in offerings if they could just send money to affiliated entity.
These 6 are key and we think we should prevail. We could get $20 a share on breach of contact claim.
http://www.valuewalk.com/2016/11/bruce-berkowitz-fannie-conference-call/
My life is risky and funny , that why I am here ! You have your own life and risk . Have fun !!!
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