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

$FNMA #FANNIEGATE

683 Capital amended its complaint pending before Judge Sweeney to add The Mangrove Partners Master Fund, Ltd., CVI Opportunities Fund I, LLLP, Capital Ventures International, CVI Opportunities Fund II, LLLP, G1 Execution Services, LLC, Susquehanna Securities, SAL Equity Trading, GP, and Susquehanna Financial Group, LLLP, as shareholder-plaintiffs.  683 Capital adds eighth and tenth counts to its complaint alleging a breach and anticipatory repudiation of the GSEs' contracts with their common shareholders as well as ninth and eleventh counts claiming a breach of the implied covenant of good faith and fair dealing with the GSEs' common shareholders.  683 Capital also mentions that FHFA's structure violates Article II of the U.S. Constitution, making the Net Worth Sweep illegal.  A copy of the amended complaint is attached to this e-mail message. 18-00711-0011

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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.