Replies to post #738448 on Fannie Mae-No Politics (FNMA)

[Patswil]

Katie Buehler
@bykatiebuehler
DAY ELEVEN: The
@FHFA
continued closing arguments today by warning jurors that they can't examine the
@FannieMae
&
@FreddieMac
net worth sweep with hindsight. They must approach it the way the agency did at the time, with concerns about the uncertain future.
2:06 PM · Nov 1, 2022
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Katie Buehler
@bykatiebuehler
·
2h
Replying to
@bykatiebuehler
Internal documents and meeting agendas also show the sweep and the concerns it was addressed were being discussed by FHFA and Treasury officials as early as January 2012, countering the shareholders' claim that the sweep was a rash, last-minute decision.
Katie Buehler
@bykatiebuehler
·
2h
The exsistence of alternative options also doesn't make the sweep unreasonable, the FHFA said.

"Reasonable doesn't mean perfect, it doesn't even mean the best," the agency argued.
Katie Buehler
@bykatiebuehler
·
2h
An attorney for the shareholders delivered an impassioned rebuttal in which he told the jurors the FHFA is attempting to confuse them about the facts in this case and hoping to rely on that confusion to win.
Katie Buehler
@bykatiebuehler
·
2h
The documents the FHFA has relied on in its case, including the SEC filings, don't disprove the shareholders' claims, but in fact support them. There's no positive projections in those filings because companies don't put projections in earnings reports.
Katie Buehler
@bykatiebuehler
·
2h
The real issue, he added, is that there is "zippo, zero, zilch" in evidence to show the FHFA analyzed the sweep before implementing it.

"I know they didn't know the future but they knew it was getting better," he said.
Katie Buehler
@bykatiebuehler
·
2h
The jury began deliberations around 1:40 p.m