Read the screenplay: FANNIEGATE — $7 trillion. 17 years. The biggest fraud in American capital markets.
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$FNMA #FANNIEGATE

Fairholme urges Judge Chang to resist FHFA and Treasury's encouragement to dismiss the Roberts Plaintiffs' complaint before seeing relevant documents.  Fairholme tells Judge Chang that Mr. Ugoletti's deposition (contravening the declaration he supplied to Judge Lamberth) and Ms. McFarland's testimony have already uncovered evidence undercutting FHFA and Treasury's positions.  Fairholme anticipates that material contained in the 56 documents being reviewed by the Federal Circuit will contain more, as will the additional 11,000 secret documents the government doesn't want to produce.

Fairholme wants Judge Chang to delay ruling on the pending motions to dismiss until the government produces the documents Judge Sweeney told it to.

A copy of Fairholme's reply delivered to Judge Chang this afternoon is attached to this e-mail message.16-02107-0060

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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.