Replies to post #14714 on Fannie Mae Preferred S (FNMAS)

[betahighlander]

Thanks Rosen,
Well said- My brevity left so much unsaid. Thanks again

[44centsAKAchoccake]

Another five star post (I think)

I've always considered the Perry case to be my favorite, but I'm feeling more and more that's it's our best shot. I think they did an extremely good job of figuring out how to frame their case before filing.

The case is both "soft" and aggressive. It's aggressive because they ask for injunctive relief and they aren't asking for discovery (unlike Fairholme) so the turnaround on the case should be relatively rapid. Judge Wilkens had it on a fast track, less so with Judge Lamberth, but still the oral arguments are set for June 23rd, and I don't think that date needs to be delayed for discovery.

I will add that I've always liked the case because it's consistent with my core convictions on the 3rd Amendment (I liked the 3rd Amendment because it accelerated repayment of taxpayers seven fold, but it's inappropriate and unlawful now that net investment has been paid off.)