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Replies to post #179872 on Fannie Mae-No Politics (FNMA)
The U.S. had argued that the case should be dismissed and that shareholders’ claims weren’t ripe for review because Fannie and Freddie’s future profitability is unknown and because the firms are still in a government-run conservatorship. Those claims, the government had said, meant plaintiffs couldn’t assert that they had sustained losses resulting from the government’s actions.
What, did the government think that the 30 yr mortgage would magically disappear or the banks would willing tie up there funds for that long? Hmmm
Fairholme had said that discovery would allow them to resolve the dispute over the potential to forecast future profitability at the companies, and Judge Sweeney sided with the plaintiffs. “Discovery will enable plaintiffs to confirm that such evidence exists with regard to profitability and additional answer the question as to when, and how, the conservatorship will end,” Judge Sweeney wrote. /quote]
Mr. Berkowitz is playing very nice, trying to give the government an out!
“Today’s decision by Judge Sweeney is a positive development for taxpayers, homeowners, and investors. We hope this accelerates exploration of a consensual solution,” said Mr. Berkowitz./quote]
02/26/14 6:18 PM
02/26/14 6:47 PM
02/26/14 10:32 PM
