Replies to post #63397 on Fannie Mae-No Politics (FNMA)

[celtic tiger]

Hope they have a good legal team. This share could shoot or tank at various intervals as the appellate process weaves its way through the courts. One can be very sure this challenge will have many stages and volatility lies ahead. Not sure the legal challenge now is the best way of doing things.The threat of legal action is often better than the execution of the threat and a court may differentiate between earlier and later shareholders.

[smoke_em]

Fannie Mae and Freddie Mac shareholders sued the U.S., alleging that the 2008 takeover of the housing lending giants was illegal and cost investors billions of dollars.

The takeover of the mortgage companies by the Federal Housing Finance Agency “while beneficial to the economic welfare of the nation, destroyed the value of Fannie Mae’s and Freddie Mac’s common and preferred stock and trampled the private ownership rights” of shareholders, according to the complaint filed in the U.S. Court of Claims in Washington.

The shareholders filing the lawsuit seek $41 billion in damages.

[Crazy Money]

2008 was so long ago now ...

Fannie Mae and Freddie Mac shareholders sued the U.S., alleging that the 2008 takeover of the housing lending giants was illegal and cost investors billions of dollars.

Dallas66 Member

Monday, June 10, 2013 5:22:17 PM
Re: None
Post # of 63440
Fannie, Freddie Shareholder Suit Challenges U.S. Takeover

Link

http://www.bloomberg.com/news/2013-06-10/fannie-freddie-shareholder-suit-challenges-u-s-takeover.html?cmpid=yhoo