"As announced by Federal Housing Finance Agency Director, James Lockhart, on September 7, 2008, all future common and preferred stock dividends would be eliminated, other than dividends on the senior preferred stock issued to the U.S. Department of the Treasury.
In accordance with the Senior Preferred Stock Purchase Agreement, until the senior preferred stock is repaid or redeemed in full, Freddie Mac may not, without the prior written consent of Treasury, redeem, purchase, retire or otherwise acquire any Freddie Mac equity securities (other than the senior preferred stock or warrant)."
the two judges at the circuit court argued to NOT hear the case at the district level --- noting that Lamberth was right to invoke the judicial bar
the judges did speak to arguments ONLY to note that the arguments did not win over the on the face of it language of HERA that castrates courts
for those here years - I noted that clause and REK answered that it would be a major super hard barrier
that has proved to be true ... although we got within one more judge of getting two judges to say the deeds are so ugly and so horrible that the clause must be disregarded
but conservative judges as a rule can not go beyond what is written as that would be considered writing law v interpreting and adjudicating law
in essence we got screwed by congress writing a law that conservative judges ruled precluded courts from reviewing the case as the law told courts to stay away ... and I do not blame those conservative judges for being consistent and reading the letter of the law
for those who like such reading at the SCOTUS level to argue here that those same judges should WRITE law is amusing to read
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