Fannie Mae-No Politics (FNMA)

[clarencebeaks21]

I agree that’s a critical section. The pivotal wording here is:

“Upon so deciding, Saratoga understood, with what may only be viewed as a historically rooted expectation, that the federal government would take possession of its premises and holdings as conservator or receiver if …”

(1) “premises” plus, “and holdings”. So, both tangible and intangible.

(2) Replace “Saratoga” with shareholders and that’s exactly what the CAFC said on 2/22/22.

Agree that in shareholders’ case it’s a classic tragedy (with IMO a complicit actor), and now with the referee denying review on a call in the CAFC’s home court, that is pretty much a buzzer sounding. Booo.