Fannie Mae-No Politics (FNMA)

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News. Govt files motion to dismiss Fairholme Funds vs USA

According to restorefanniemae.us, as of last night the government has filed a motion to dismiss in the Fairholme Funds vs. United States case. Docket proceedings have not yet been obtained.

see: http://www.restorefanniemae.us/calendar

I have no background in law or the financial sector, but a request to dismiss could be due to several reasons: presentation of evidence in which the defense feels that the prosecution cannot win, procedural errors committed by the prosecution that prevents a fair hearing, or prior settlement out of court.

We should all be following this closely. Could be big news either way for the PPS. I'll reiterate this is only a motion to dismiss and will have to be ruled by the presiding judge. It however does suggest that the government is not simply giving up without a fight. It could be very interesting, considering the judge assigned to this case is Robert L Wilkins, one of Obama's appointees trying to be voted in by the Senate to the DC court. We shall see where his political and judicial allegiances lie.

http://finance.yahoo.com/news/senate-dems-push-obama-nominees-130606459.html