Fannie Mae-No Politics (FNMA)

[bcde]

"Playing on semantics is boring and a fruitless waste of discussion since FHFA as conservator will NEVER order the BOD to violate it's fiduciary duty coz that would be suicide under the for cause clause. Yep, that would be the CAUSE!
"

Mark Calabria in a highly published article, criticized Hank Paulson and Ed Demarco for violating HERA and suggested that both should be pulled in a court to hold accountable for violating HERA. CA5 used this article in its ruling and ruled in favor of plaintiffs (against NWS).

After all this, it is highly improbable that Mark Calabria will do anything that is out side the traditional interpretations of FIRREA/FDIC laws.

FnF BOD/CEO continue to have corporate law fiduciary duties to shareholders. But now BOD/CEO owe fiduciary duties to Conservatorship (in the shoes of shareholders). However conservator can not violate HERA, APA and other laws and act in arbitrary manner.

So for Gov Courts have allowed Conservatorship to act in the best interest of Gov (even though controversial) and FnF. But courts will not allow conservator to act in the best of interest of private JPS holders harming the interest of CS holders.

Only problem with Catman is, he is obsessed with bank like capital, because he is surrounded by the MBA cronies and catman does not understand the insurance business model of FnF.

If catman takes a refresher course on insurance business model then he will stop giving stupid interviews.