Fannie Mae Preferred S (FNMAS)

[rosen62]

I don't think that Fairholme is arguing there was a loss of share value or loss of dividends due to c-ship, so the "ripe" argument shouldn't apply. Even if it does, Epstein stated -from a legal point of view is my guess- that there is no need to wait for a damage to materialize to have a claim. Specially if the damage cannot be undone. I think Fairholme argues that the companies can't operate normally for restoration because of the sweep/net worth issue (3rd amendment). That is the takings. What was taken away was their ability to stand on their feet again.