Replies to post #195677 on Fannie Mae-No Politics (FNMA)

[Sogo]

Yes! I keep wondering why no talk about this angle. It's been bothering me since maybe June or so. The best I can tell so far is just that the parties suing the gvt are more interested in other wrongdoings, and that winning a suit on those alone would be somehow better for the parties bringing the lawsuits than would pursuing the fiduciary duty breach. I would think longtime shareholders like Nader might have a better shot with the fiduciary angle than would hedge funds that entered FNMA after the cship was rammed into place.

So many angles. Gvt self-dealing, takings, fiduciary breaches, etc. wish I had powder with which to add right now. I got greedy on last run and sold a tiny bit way too late! Wish I had those back.

[stockprofitter]

Absolutely brilliant. Thank you for enlightening and some very great points not often spoken as brightly as you have.

Kudos to yourself and Sogo, Member Marks for both.

[AngelaNBayern]

Thank you Reckcusdoo. Very good analysis.

Tangential issue, but I presume that this is what Berkowitz has been hinting at in his comments about the directors. i.e. that the directors can be sued, and that he himself would not hesitate to put forth the effort/funds to do so.

[chessmaster315]

Good points. If the board "gave away" my company for peanuts, causing damages, they could be liable it would seem. That would be a breach of fiduciary responsibility...giving away our company worth billions to the government for a fraction of its value.

We elect the board of directors and expect, and deserve, the board to act in the interests of the shareholders...not the government. In this instance, when the governments interests conflict with those of shareholders, the board, needs to look and see who signs their paychecks...shareholders. We also elect them, and can kick them out when shareholders feel one or more board memebers is not making decisions consistent with shareholders interests. Maybe we need to elect our OWN board of directors, consistent with our interests, and have the board decide to exit the cship. That is, we elect only board memebers who would committ to, and keep their promise of exiting c ship.