Fannie Mae-No Politics (FNMA)

[whipstick]

For the Shorts that have given NAVY crap for his comments about Delaware being the best shot - read RoLG's article on Seeking Alpha and then J Timothy Howard's response in the comments here, quoted below.

ROLG: I appreciate your posting this. I found it to be a very clear analysis of the three different legal paths that ultimately could lead to reversal of the net worth sweep (the fourth path–through Judge Sweeney’s Federal Court of Claims–won’t result in a reversal of the sweep even should plaintiffs prevail) and I would encourage everyone who follows this site to read it.

For what it’s worth, I agree with your ranking of the relative probabilities of success for the three paths. From the time the Delaware suit was filed I thought it presented the cleanest and least complicated way to get a judgment against the sweep, provided Judge Sleet was willing to step up to the issue. A reversal of Lamberth’s DC District Court decision had been my second favorite, but February’s surprising (and perplexing) appellate court ruling pushed that back to a distant third, requiring, as you point out, one of the other District Court cases to be decided in favor of plaintiffs on appeal, followed by an appeal to, and favorable ruling by, the Supreme Court. That leaves the Collins case in Texas–with its likelihood of a successful challenge to the constitutionality of the structure of FHFA’s directorship–as the best backup to the Delaware case.

The point being that the former CFO of one of the companies agrees with Navy's stance that Delaware is and maybe always has been the best legal path to reverse the NWS.