Replies to post #752076 on Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

TABLE OF CONTENTS
NATURE AND SUMMARY OF THE ACTION....................................................................................4
JURISDICTION AND VENUE..............................................................................................................10
THE PARTIES........................................................................................................................................10
CONSTITUTIONAL PROVISIONS......................................................................................................11
FACTUAL ALLEGATIONS..................................................................................................................11
I. THROUGH 2008, FANNIE MAE AND FREDDIE MAC WERE FINANCED BY
PRIVATE INVESTMENT. ............................................................................................11
II. IN JULY 2008, CONGRESS CREATED FHFA, WHICH IN SEPTEMBER 2008
PLACED THE COMPANIES INTO CONSERVATORSHIP. .....................................13
III. IN EXCHANGE FOR FUNDING, FHFA EXECUTED AN AGREEMENT GIVING
TREASURY A 10% SENIOR PREFERRED STOCK DIVIDEND AND
WARRANTS TO BUY 79.9% OF EACH COMPANY’S COMMON STOCK FOR
A NOMINAL PRICE. ....................................................................................................17
IV. AT THE BEGINNING OF 2012, THE HOUSING MARKET REBOUNDED AND
THE COMPANIES RETURNED TO PROFITABILITY. ............................................21
V. ON AUGUST 17, 2012 THE GOVERNMENT IMPOSED THE THIRD
AMENDMENT, GIVING TREASURY A RIGHT TO A QUARTERLY DIVIDEND
EQUAL TO 100% OF THE COMPANIES’ NET WORTH (MINUS A SMALL
RESERVE THAT WAS SET TO SHRINK TO ZERO IN 2018)..................................24
VI. IN DECEMBER 2017, TREASURY AND FHFA AGAIN CONFIRMED THAT
THE NET WORTH SWEEP MUST ENSURE THAT 100% OF ALL VALUE IN
THE COMPANIES MUST GO TO TREASURY, NO MATTER HOW LARGE
THAT VALUE MAY BE...............................................................................................33
VII. IN 2019, THE GOVERNMENT CONVERTED THE CASH NET WORTH SWEEP
INTO A PAYMENT-IN-KIND NET WORTH SWEEP, FURTHERING THE
UNJUST ENRICHMENT OF TREASURY AT THE EXPENSE OF PRIVATE
SHAREHOLDERS.........................................................................................................34
VIII. THE GOVERNMENT HAS TAKEN PLAINTIFFS’ PROPERTY WITHOUT JUST
COMPENSATION. ........................................................................................................36
IX. THE GOVERNMENT ALSO HAS TAKEN PLAINTIFFS’ RIGHT TO BRING
CERTAIN CAUSES OF ACTION CHALLENGING THE THIRD AMENDMENT
WITHOUT PROVIDING JUST COMPENSATION. ...................................................40
X. THE GOVERNMENT ILLEGALLY EXACTED PLAINTIFFS’ PROPERTY. ...........41
XI. THE THIRD AMENDMENT VIOLATED THE CONTRACTUAL RIGHTS OF
HOLDERS OF THE FREDDIE MAC COMMON STOCK..........................................45
XII. CLASS ACTION ALLEGATIONS................................................................................47
PRAYER FOR RELIEF..........................................................................................................................67

[navycmdr]

Hamish Hume - Filed Today ....