Replies to post #560524 on Fannie Mae-No Politics (FNMA)

[cclose1]

Agree. This is the whole enchilada, also the most secretive/under seal. Just like the En Banc prior to the ruling, no one reporting on it.

[kthomp19]

The Washington Federal lawsuit is not just a bunch of allegations of some plaintiffs.

Yes it is. In fact, isn't that an acceptable definition of a lawsuit?

It is the best and most comprehensive of all the lawsuits.

Only an opinion, and unless you owned shares when conservatorship was imposed, that case is useless to you. The Washington Federal plaintiffs only want money damages, and only for pre-conservatorship shareholders. Even if they win their lawsuit, the warrants still exist, the seniors still exist, the 10% dividend rate, all of it would stand.

The lead attorney is Steve Berman.

He's a smart guy then, to realize that the only way to successfully challenge the warrants is to have standing (be a pre-conservatorship shareholder) and to do it before they are exercised.

It's too late for anyone else to challenge the warrants. Anyone who bought shares after conservatorship started won't have standing, even after the warrants are exercised. It sounds like Bryndon Fisher is going to give it the ol' college try, but he will be rather disappointed in the end when his case gets dismissed for lack of standing. He knew about the existence of the warrants when he bought his shares, and for some reason is waiting until after exercise to challenge the warrants. There is no way that would stand up in court.