Well from what I gleaned from todays video chat, he says Lambert is getting ready to decide next Spring, whether or not the government violated their implied covenant of good faith dealing that is implicit in all legal contracts, when the Government failed to disclose material information to the prospective buyers of jps in 08 that bought $33B of jps, the government pays 1 dividend payment and defaults. Paulson as head of UST had material information that it was the Government's intent to take over the gses and while Paulson disclosed that information to some he did not disclose it to the innocent jps buyers who paid close to par for an investment that was getting ready to halt their dividend payment.
Lambert is a little upset that the government hasn't been exactly straightforward with the court and I'm sure he'd like to have a little chat with Mario.
Where's Mario?
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