Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Also, as I recall, the US Treasury was a listed Defendant originally, but the court ruled that their was no privity of contract between the Shareholders and the US Treasury, since the Implicit Contract was between Fannie Mae and Freddie Mac (and the FHFA in its acting capacity as the Conservator) and the Shareholders.

During both trials, the team of Arnold & Porter argued on behalf of the Defendants and the attorneys representing Fannie Mae and Freddie Mac were in the audience to help with the presentation of their case if necessary.

BTW, the lead attorney for Arnold & Porter said that the Shareholders were free to sell their shares at any time so what's the big deal, right!