Replies to post #568450 on Fannie Mae-No Politics (FNMA)

[YanksGhost]

For me, the missing litigation link is that no shareholder action has ever been launched to charge Goldman Sachs, Treasury and numerous GS former employees and accolytes (like Timothy Geithner) with a conspiracy to conceal GS accountability for the Financial Crisis and an organized crime style conspiracy to protect GS from high risk positions salved by the bailouts and TARP rescues. This, to me, explains the reason why document release has been so vigorously rejected by the GOV legal team for so many years. In a RICO case, there is no statute of limitations and treble damages can be awarded.

Read my many, old posts on "Government Sachs" and the related material on Paulson, Geithner, Bernanke... ad nauseum. Like others that pushed this line or recourse for quite some time, and there were some very good ones, I gave up because people preferred to embrace "back up the truck talk" and multiple C-note common prices coming, any day now, nonsense.

This nuclear option would take brass balls, but could be inexpensive if an investigative journalist like Bethany McLean or Andrew Ross Sorkin could be urged to pick up the mantle and get the Southern District of New York engaged.

IMO.

[obiterdictum]

Obi, if money wasn’t an issue. What would you sue the government for, knowing what we know today.

Hypothetically, to file complaints, there must be substantial holdings of pre-conservatorships Fannie and Freddie preferred and common stock as a long term investment. That is, before 2008 or at least before 2012.

If the above condition is met, the following complaints would be filed in 2012:

In the US Court of Federal Claims, file a complaint seeking just compensation for a regulatory taking of property in violation of the 5th Amendment of the US Constitution.

In district court, file a complaint for a declaratory judgment and injunctive relief of injury suffered by agency violations of the APA and HERA through vacating the net worth sweep. File a complaint for declaratory judgment and compensation on claims for breach of contract, breach of the implied covenant of good faith and fair dealing regarding liquidation preferences and, breach of the implied covenant with respect to dividend rights.