Fairholme Win 'Very Positive' For Fannie Shareholders: Bove
Fairholme Win 'Very Positive' For Fannie Shareholders: Bove Jul. 29, 2014 4:30 AM ET | 7 comments | About: Freddie Mac (FMCC) , FNMA , Includes: IYR , X HB By Saul Griffith The decision paves the way for a court case on the 'takings' plea by Fairholme Capital against FHFA. Fannie Mae, Freddie Mac vs FHFA: Jurisdiction Last week, Federal Judge Margaret Sweeney cleared the way for a court case that will determine whether the government's 'takings' of profits generated by GSEs Fannie Mae / Federal National Mortgage Assctn Fnni Me ( OTCQB:FNMA ) and Freddie Mac / Federal Home Loan Mortgage Corp ( OTCQB:FMCC ), under the stewardship of the FHFA, was illegal and to the detriment of the companies' shareholders. The judge ruled in no uncertain terms in her Discovery Order that her court had the authority to consider the merits of the lawsuit. "With respect to the...