Replies to post #328968 on Fannie Mae (FNMA)

[Patswil]

White House Role In 3rd Amendment Net Worth Sweep
February 12, 2016 at 12:05 am, No comments
Cooper & Kirk, plaintiffs' counsel in the Fairholme case in the Court of Claims, summed up its objection to the government's assertion of the Qualified Presidential Communications privilege as follows:
[color=red]But White House officials played a unique role in the decision to impose the Net Worth Sweep, and this fact cannot be seriously disputed in light of the materials attached to the plaintiffs' motion...As this Court has already observed, "[h]igh-ranking officials within an agency, corporation, or other institution are not fungible," [.] and the communications of such officials are not fungible either.[/color]
Otherwise, the law firm made a very compelling case against the government's assertion of the Deliberative Process Privilege and the Bank Examination Privilege. One sure bet, the government won't accede to the requests for additional information without a fight.

http://www.fidererongses.com/params/post/773237/white-house-role-in-3rd-amendment-net-worth-sweep

[Patswil]

Letter: FDR’s New Deal---Pensacola Journal-link----11:58 a.m. CST February 13, 2016

Only those who oppose the dream of American homeownership would attempt to dismantle President Franklin Roosevelt’s New Deal by eliminating two publicly traded, shareholder-owned companies that have single-handedly provided $7 trillion – yes, trillion – in liquidity to support America’s mortgage market since 2009.

Shareholders simply request that the Treasury Department respect the capital structure of each company, respect the economic bundle of rights associated with our securities, and respect the law setting forth the rules of a conservatorship as decreed by Congress.

The economist Herbert Stein once famously said: “If something cannot go on forever, it will stop.” Sooner rather than later, I believe the Net Worth Sweep will be halted and a common-sense solution will prevail: Fannie Mae and Freddie Mac will transform into low-risk, public utilities with regulated rates of return, just like your local electric company.

— William Carney, Pace