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Bruce B and FAIRX (1 star, Silver M* rated fund) has its hands full at the moment with SHLD, JOE, LE, III, SCC..., but everyone could use a quick haircut, right?
This is a fascinating battle, as internal treasury officials in concert with outside financial players have conspired to undermine F&F in order to drive their function to the banks....the same guys which created the recent disaster in the first place.
This is now in the courts, with the government attempting to shield incriminating documents under executive privilege claims. The judges are getting tired of being lied to, and this may become much more interesting very quickly as this scheme is being uncovered.
Gretchen Morgenson from the NYTs is sniffing around the story here:
Comments
http://wallstreetonparade.com/2016/05/the-u-s-government-is-quietly-paying-billions-to-wall-street-banks/
This is now in the courts, with the government attempting to shield incriminating documents under executive privilege claims. The judges are getting tired of being lied to, and this may become much more interesting very quickly as this scheme is being uncovered.
Gretchen Morgenson from the NYTs is sniffing around the story here:
http://www.nytimes.com/2016/05/22/business/how-freddie-and-fannie-are-held-captive.html?_r=0
The ex-CFO of FNMA has as interesting ongoing blog on this as well, focused on the legal actions.
https://timhoward717.com/
Regards,
Ted
Must Government Remain A Backstop For Fannie And Freddie? Video & Text:
http://knowledge.wharton.upenn.edu/article/160523_the_future_of_fanniemae_and_freddiemac-andrew-davidson/