Replies to post #12615 on Fannie Mae Preferred S (FNMAS)

[jwnoble3]

BIG THX for the posting Demar. Best JW

PS - I also posted link over at the F&F google groups board.

[KylieM]

anyone can explain the point "time is not "ripe" for a complete accounting because the books have not closed on the transaction"?

is the government's counsel trying to argue it is not the right time to adjudicate whether the monies in dispute shall belong to whom and so the case shall be stayed?

[betahighlander]

Demar- Thank you for posting- great article!!!!

[Donotunderstand]

in the article - I cut and paste

In support of its position, the government cites a 2012 Circuit Court decision, Kellmer v. Raines, which held that only FHFA was in a position to sue the former officers and directors of Fannie and Freddie for the breach of their duties to the corporation. That court insisted that, as a general proposition, its sole job was to “read the statute,” from which it concluded that “all rights, titles powers, and privileges” meant just that.


That is in support of the GOV's argument that shareholders can not have standing -- only the conservator ?

I really wish that NYT and Heritage Professor had explained better why this argument - which now is precedent law - will not hold here to preclude the hedge funds from suing?

Why this tine can share holders and not just the conservator sue?

[Donotunderstand]

in the article - I cut and paste

In support of its position, the government cites a 2012 Circuit Court decision, Kellmer v. Raines, which held that only FHFA was in a position to sue the former officers and directors of Fannie and Freddie for the breach of their duties to the corporation. That court insisted that, as a general proposition, its sole job was to “read the statute,” from which it concluded that “all rights, titles powers, and privileges” meant just that.


That is in support of the GOV's argument that shareholders can not have standing -- only the conservator ?

I really wish that NYT and Heritage Professor had explained better why this argument - which now is precedent law - will not hold here to preclude the hedge funds from suing?

Why this tine can share holders and not just the conservator sue?

[dmceng]

Demar

Thanks for the post!

Take Care
David