Bruce Berkowitz: D.C. Circuit Should Upend Treasury’s Net Worth Sweep

0
Bruce Berkowitz:  D.C. Circuit Should Upend Treasury’s Net Worth Sweep
Fanniegate

From Bruce Berkowitz’s Fairholme Capital

Play Quizzes 4

The D.C. Circuit Should Upend Treasury’s Net Worth Sweep

Legal scholar Richard Epstein urges the U.S. Court of Appeals for the District of Columbia Circuit to upend the Net Worth Sweep in a Forbes piece published this week.

Morningstar Investment Conference: Fund Manager Highlights Personalized Medicine, Energy Security

Clint Carlson Far ViewHedge fund managers go about finding investment ideas in a variety of different ways. Some target stocks with low multiples, while others look for growth names, and still others combine growth and value when looking for ideas. Some active fund managers use themes to look for ideas, and Owen Fitzpatrick of Aristotle Atlantic Partners is Read More

He contends that “a close examination of the [Senior Preferred Stock Purchase Agreement] supports the conclusion that the entire Third Amendment was an elaborate device to strip the private shareholders of all their wealth in Fannie Mae and Freddie Mac, by devices so crude that if there has been adopted by private parties, all of them would have gone to jail.”

After analyzing the oral argument in Perry Capital v. Lew in the D.C. Circuit, he says “it becomes clear that the earlier opinion of Judge Royce Lamberth on September 30, 2014—which wrongly sustained the government’s position on all counts— should not be allowed to stand given its incurable internal weaknesses.”

To view the article, please click the following link: http://www.forbes.com/sites/richardepstein/2016/06/15/untangling-the-gse-foolishness-the-d-c-circuit-should-upend-treasurys-net-worth-sweep/

Kind regards,

Investor Relations

 

Fannie Mae & Freddie Mac
Fannie Mae

Updated on

Sheeraz is our COO (Chief - Operations), his primary duty is curating and editing of ValueWalk. He is main reason behind the rapid growth of the business. Sheeraz previously ran a taxation firm. He is an expert in technology, he has over 5.5 years of design, development and roll-out experience for SEO and SEM. - Email: sraza(at)valuewalk.com
Previous article Angelo Mozilo Of Countrywide Let Off The Hook In Civil Suit By DOJ
Next article How Automakers Can Think Like a Disruptor

No posts to display