Read the screenplay: FANNIEGATE — $7 trillion. 17 years. The biggest fraud in American capital markets.
|glenbradford-wordpressFanniegate|1 min read

#FANNIEGATE $FNMA

Fairholme asked Judge Lamberth for permission to file its amended complaint late yesterday, and a copy of Fairholme's request and proposed amended complaint are attached to this e-mail message. Fairholme's amended complaint shows Judge Lamberth the evidence it found during jurisdictional discovery contradicting Mario Ugoletti's sworn statement that nobody at FHFA, Fannie and Freddie had talked -- prior to implementation of the Net Worth Sweep -- about reversing deferred tax asset accounting entries on the GSEs' books that would generate massive profits for Treasury's sole benefit.13-cv-01053-0066

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Disclaimer: This blog post reflects the author's personal opinions at the time of writing and is not financial, investment, or legal advice. Glen Bradford holds positions in securities discussed on this site. Past performance is not indicative of future results. Do your own research and consult qualified professionals before making investment decisions. Some content on this site was generated or edited with AI assistance.