Fannie Mae (FNMA)

[ron_66271]

The Mortgage Trusts Were Securitized into Bonds…

and Bonds sold on the open market. The Bonds are then insured by Derivative Contracts to cover the losses as mandated by the Bonds prospectus.
Therefore; no losses to the Bond holders. The Derivative Contracts covered the losses.
F&F held all large percentage of the RMBS. Why not, there insured?

THE CREDIT CRISIS.
$13 Trillion in residential mortgages in 2008, of which most all was securitized into RMBS and insured by the Big Banks that was manipulating the LIBOR interest rates.

4001 04/03/2024
ENDORSED LETTER addressed to Counsel from NAOMI REICE BUCHWALD UNITED STATES DISTRICT JUDGE dated 4/3/2024 re: The Court is in receipt of the Direct Action and OTC Plaintiffs' letter of April 2, 2024. ENDORSEMENT: Dear Counsel: The Court is in receipt of the Direct Action and OTC Plaintiffs' letter of April 2, 2024. See ECF No. 4000. Of course, the Court has no interest in interfering with counsels' continuing cooperative efforts as reflected in the existing scheduling order and its prior iteration. However, regardless of counsels' efforts inter se, the Court considers fact discovery closed as of April 4, 2024. Further, as the Court has repeatedly made crystal clear, there cannot and will not be any further adjournments of the class certification, summary judgment, and Daubert motions. Very truly yours, NAOMI REICE BUCHWALD, UNITED STATES DISTRICT JUDGE. (Signed by Judge Naomi Reice Buchwald on 4/3/2024)

https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262

OTC is code word for Derivatives.



She is NOT messing around!
Ron