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

A redacted version of Fairholme's Second Amended Complaint was filed this morning, and a copy is attached to this e-mail message. The redactions concern the GSEs reversals of their overestimated losses on the eve of the Net Worth Sweep and appear in paragraphs 98, 100, 107, and 133.13-465-0422

The Honorable Nitza I. Quinones Alejandro placed her stamp of approval on a stipulation among the Wazee Plaintiffs, FHFA and Treasury establishing a briefing schedule for FHFA and Treasury's motions to dismiss and the Wazee Plaintiffs' cross-motion for summary judgment that will be completed by Feb. 8, 2019, and a copy of that stipulation is attached to this e-mail message. 18-cv-03478-0008

FHFA delivered two documents to Judge Maloney yesterday, and copies of those filings are attached to this e-mail message, telling him:

(A) the portion of the Collins decision saying that FHFA's structure is unconstitutional is wrong; and

(B) Judge Schiltz reached the correct conclusion in Bhatti v. FHFA.

17-cv-00497-0049 17-cv-00497-0050

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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.