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

Under seal, Judge Sweeney issued an opinion and order (Doc. 447) this evening "granting in part and denying in part" the government's motion to dismiss.  "The court grants defendant's motion to dismiss with respect to the direct claims and denies defendant's motion to dismiss with respect to the derivative claims.  The parties shall propose redactions by 12/16/2019 and file a joint status report in which they propose further proceedings by 1/10/2020," according to notations on the docket sheet.

It appears Judge Sweeney was prophetic when she said "we'll have many days in court," at line 12 of page 255 of the hearing transcript from Nov. 19, 2019.

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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.