Fannie Mae-No Politics (FNMA)

[Rodney5]

stvupdate, I’m not a lawyer and to draft what Lamberth deserves in an open letter on behalf of all FNMA/FMCC shareholders surely there are more qualified people on this board can do a far better job than myself.

I could easily put together the history of the theft of Fannie/Freddie up to this point in time based off the Charter Act. but this case is limited to certain parts "Implied good faith and dealings." In my opinion this is going nowhere just as the other suits. The Plaintiffs are stuck on the NWS only. The focus should be the SPSPA is an illegal contract. The Treasury is not authorized to charge a commitment fee based on The Charter Act.

Barron gave us the solution,

Quote: “The APA does not apply to the actions of the conservator. Courts already threw that out. The APA applied to the actions of the Regulator (Dir Lockhart) with the creation of the Senior Preferred Shares with a variable Liquidation Preference. This was a new product that the GSEs sold to Treasury for the purpose of stabilizing the secondary mortgage market. This product required publication in the federal register, public notice and rule making, either prior to signing the SPSPA or after a temporary approval for emergency purposes.

This is the root of all the GSE problems and the only avenue for an appropriate legal strategy to reverse the injuries in my opinion.”