Replies to post #686718 on Fannie Mae-No Politics (FNMA)

[kthomp19]

Didn’t Washington Federal challenge c-ship?

That depends on what you mean by "challenge".

1) Do the Washington Federal plaintiffs want the conservatorships overturned? No.
2) Did they file in the right court to get that kind of relief? No.
3) Do they want a finding that the imposition of conservatorship was illegal to factor into a damages award? Yes, but only for shareholders of record as of September 5 2008.

If Washington Federal wins its suit, the conservatorships would not be unwound.

All of this is true for the warrants as well.

Status of that suit?

Dismissed in its entirety by Judge Sweeney, appealed to the US Court of Appeals for the Federal Circuit to try and get the dismissal reversed.

The most recent brief I could find for that case was dated March 8 2021.

[Guido2]

Yes, they did. WaFed, along with all other direct claims, was dismissed by Judge Sweeney. WaFed filed a timely appeal. All proceedings in Court of Federal Claims were paused pending SCOTUS, at the government's request.

WaFed only includes shareholders as of the date of the conservatorship (I am one). These shareholders will get the redress requested by WaFed if they win. The bigger win is for current shareholders and the corporations themselves. The win would nullify the conservatorship, the SPS, Liquidation Preference, 10% dividends, NWS and the warrants. Fannie Mae and Freddie Mac will be among the best capitalized corporations in the world.

[skeptic7]

Do not know answer to that one.