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

Appaloosa and some if its affiliates filed a lawsuit against the government in the U.S. Court of Federal Claims last week, and a copy of the complaint is attached to this e-mail message. Appaloosa is represented by the same team of Jones Day lawyers representing Owl Creek. A different set of Jones Day lawyers, you'll recall, represents the Rafter Plaintiffs. Appaloosa owned approximately $750 million of junior preferred stock 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.18-370-0001

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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.