Replies to post #16371 on Fannie Mae Preferred S (FNMAS)

[big-yank]

Hindes with legal team in tow is presently the alpha-dog on the hunt for the Fannie loot. The Delaware action throws a wrench in the gears of many of the original litigations. Berko had his lawyers request a delay, and I bet it is because he wants the Delaware case to go forward to a rapid conclusion which would favor his Pfd. position in FNMAS.

Just food for thought.

[thewhale]

Sweeney is granting extensions - whether granting these delays is truly justified, I don't know. The result is that the can get perpetually kicked down the road on litigation that's already over 2 years old and in discovery.

Meanwhile, the net worth sweep continues. If the results Starr got in Claims Court are any indication, a successful verdict may not involve damages. It may just stop further sweeps. I don't know, just looking at Starr.

In this sense, Claims Court is judge and enforcement. In other words, there's potentially an act triggering a compensatory claim in progress (the NWS) and a successful verdict would presumably stop that. The case should be moving along more quickly.