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

$FNMA #FANNIEGATE

I was unaware, until reading the reference in this week's opinion from the Federal Circuit, that Mr. Sammons had commenced a parallel proceeding in the U.S. District Court for the Western District of Texas.  Mr. Sammons attempted to circumvent the Tucker Act which shuffles many claims against our government to the U.S. Court of Federal Claims when the amount in controversy exceeds $10,000.  Mr. Sammons' litigation in the District Court did not fare well.  The Honorable Fred Biery dismissed his complaint.  Mr. Sammons has filed a notice of appeal in the District Court indicating that he intends to ask the U.S. Court of Appeals for the Fifth Circuit to review Judge Biery's decision.

Copies of the key documents are bundled into a zip file, are available at http://bankrupt.com/misc/Sammons-v-US.zip and don't appear to offer anything we haven't already read.

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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.