Fannie Mae-No Politics (FNMA)

[FOFreddie]

Good Points Familymang - Obviously the plaintiffs would agree to whatever the 5th, 6th or 8th Circuits ruled. My guess is that the 5th would not award a judgement that just favored the JPS - I think I remember Judge Jones questioning Thompson on the scope of the relief sought on the Remand oral hearing before it was sent down to Judge Ellison.

Hopefully we will know soon if the DOJ does not move to stay the Collins appeal before the 5th.

The question is whether common shareholders would have the incentive to start future litigation if the UST ever tries to monetize its stake and right now it looks like the UST believe its stake is worth $ 224 bn and common equities stake is worth $ 1 bn - isnt that correct?
It would seem that this just reinforces the reason that Mike Kelly deserves a day in Court - he does everything the USG asked him to do and he looses $ 1bn in his JPS investments
and all his banks while the UST is set to make another $ 224 bn after being overpaid on the funds advanced with 10 % interest. This is after the GWB sets out a Nationalization strategy in March of 2008 and stuffs the 2008 JPS investors with billions of dollars of newly issued securities after they leaked the Nationalization memo to Barron's without any public disclosure.