$FNMA #FANNIEGATE

Posted on April 11, 2018

Mason Capital L.P. and Mason Capital Master Fund L.P. filed a lawsuit against the government in the U.S. Court of Federal Claims today, and a copy of the complaint is attached to this e-mail message.  Mason Capital is represented by the same team of Jones Day lawyers representing Owl Creek, Appaloosa, Akanthos and CSS.  Mason Capital owned more than  $1.1 billion of junior preferred stock in the GSEs as of Aug. 16, 2016.  Because this case is related to the other cases complaining about the Net Worth Sweep, it’s been assigned to Judge Sweeney. 18-cv-00529-0001


1 Reply to "$FNMA #FANNIEGATE"

  • bob milano
    April 12, 2018 (11:56 pm)
    Reply

    Aside from the legal rangling about the NWS, etc. The purpose of the GSE’s are essential to the real estate market. Not aware of thinking to the contrary. The real question is…Is there a better alternative ownership structure or do the companies just need to continue with some government protection tweaking? Foreclosure insurance or a smaller debt to value protection ratio, for instance. The market to buy these securities seems strong enough.
    Personally, it would be a shame to see this operation turned over to the banks since historically they so poorly handle their own portfolio, especially REO’s.
    It is for these reason’s I am a stock holder.


Got something to say?

Some html is OK