The government can't win these cases unless the United States Constitution is thrown out the window. What judge at any level of the judicial system is willing to put his/her reputation and career on the line to go against the law of the land? As owners of Fannie and Freddie, the shareholders are protected from the government by the Constitution and it is crystal clear that the government overstepped its bounds and authority in dealing with both of the GSEs in, what amounts to, an illegal seizure of the entities. The actions of the government have cost shareholders a huge amount of money, both in dividends and share price appreciation, and it is my belief that there will be not only a release of the GSEs from conservatorship but an award of damages to the shareholders that will be significant.
Listen to Timothy Howard's comments on the interview concerning the book at Yahoo! Finance news. The former CFO says blame was made up to direct that blame towards Fannie and Freddie during the crisis. In other words, federal regulators were lying to justify their intent. The shareholder lawsuit attorneys need to put Howard on the stand in their cases to thoroughly shame and discredit the government, the politicians, and the banks for what they have attempted to do!
But even Millstein won't grow a set and say that the government illegally overstepped their authority and seized both Fannie and Freddie. He hints the fact but won't just come out and say it; but nobody else will either! I'm waiting for someone to come along with a big set of 'nads and tell it like it happened!!!!
The government has no case so how do you propose they win in court? They proceeded as if they owned F&F but everyone knows that the shareholders owned it then and the shareholders own it now. The government illegally seized the companies which violated Constitutional law...plain and simple.
It's still trading so that your username will show up on these message boards and I can put any further drivel from you on ignore. Goodbye!
It's paranoia! Half the Fannie and Freddie common shareholders are scared of their own shadows. That's why there is a constant banter on these stocks' message boards.
This is a socialist administration. Why do you think they are willing to help anything that follows the old tried and true
way of doing things? Help is the fartherest thing from their minds as they steadfastly try to destroy this country!
Where do you think you live.....the Wild West? We do have laws and the federal government's action constitutes an illegal seizure and suppression of owners' rights (shareholders are the owners, in case you didn't know). When pinned in the corner by the courts, the government will have to cough up....and cough up big, IMO.
I'm really anxious for the first suit to reach the courtroom because it won't take long to rule that there has been an illegal seizure of both Fannie and Freddie and that the owners (shareholders) have been extensively damaged. When that time comes, under NO circumstances, excuse the government for violating your Constitutional rights!
I'm seeing 1.308 billion shares on 10/31 in documents on the FNMA website. I believe the 5+ billion we keep seeing is a creation by writers to include shares that would come with the warrants which can't, now, be exercised.
They are certainly trying to do that but it will come back to viciously bite them in the butt, when all is said and done!
Exactly! Nobody is smart enough in Congress to realize that they will hurt the taxpayer in the end by having to fork out $billions in damages! Besides, reform isn't needed anyway because Fannie and Freddie aren't brkoen. In fact, they are operated like a well oiled machine. They only need to tighten up their purchase threshold.