$fnma #fanniegate

The Rafter Plaintiffs and Pershing Square filed an amicus brief urging the High Court to accept the three petitions and reverse the D.C. Circuit's decision, and a copy is attached to this e-mail message.  "This Court's intervention is necessary," Pershing Square's legal team at Jones Day says, "both to police the separation of powers and to protect private property from the grasping hand of the federal government, which seeks to insulate its lawless conduct from any judicial review."  The shareholders tell the Justices that FHFA's reading of HERA making preserving and conserving optional and allowing dissipation if that's what FHFA wants to do makes no sense and is contrary to what more than 100 years of legal tradition describes a conservator's proper role.

Fannie Mae and Freddie Mac have elected to not to respond to respond to the Cacciapalle Plaintiffs' petition, and copies of their waiver documents are also attached to this e-mail message.17-578-0004 17-578-0002 17-578-0003