She is not a legal scholar and does not claim to be
My read of the article was that she was trying to expose that which was found out in discovery !!
The two valuations far apart and the various emails
The point was to raise awareness of the methods mindet and process of some involved with AIG bailout
Epstein IMO is on the money noting that AIG is different in two key ways
1. The GOV ownership is over - where with FNAM the conservatorship with the third amendment has gone even longer and further
2. The Third Amendment was after the initial scare and right at the time that the FNMA financial situation was improving
etc I suggest that a loss at AIG will indeed hurt the FNMA price I suggest that a win at AIG will double the FNMA price I suggest that if there is a loss at AIG and a drop in price - all things equal - it would be time to add less expensive shares -- as indeed the two cases are miles apart in terms of winnablity