Replies to post #14109 on Fannie Mae Preferred S (FNMAS)

[taintedfud]

who is goldstein, and what authority does he have to tell geithner what to do. was that still bush?

The memo was addressed to Timothy F. Geithner, then the Treasury secretary, from Jeffrey A. Goldstein, then the under secretary for domestic finance. In discussing Fannie and Freddie, the beleaguered government-sponsored enterprises rescued by taxpayers in September 2008, the memo referred to “the administration’s commitment to ensure existing common equity holders will not have access to any positive earnings from the G.S.E.’s in the future.”

[44centsAKAchoccake]

One of the things I like about Gibson Dunn is that not only are they good litigators but they seem to understand the need to build a grass roots campaign and a media/punditry campaign to get their story out there. E.g., Olson told about about this Tsy document at the Nader conference and then somehow GM followed up on the story in the NYT. GM's got a Forbes background so shareholder rights is a good topic for her (she was critical of "bailouts" but that was a few years ago and things have changed). At any rate, things are looking up. Stay gold.

[Joe Stocks]

Thanks for posting this article. It is nice to see one of mainstreams biggest critics of FnF finally recognize the plight of the shareholders.

I added a bit more common last week (posted on my website), and plan to add more this week.