October 1, 2014

Big Decision in GSE Litigation

By David Reiss

Regular readers of this blog know that I have written a lot about the shareholder suits arising from the conservatorships of Fannie and Freddie. One of the main cases is being presided over by Judge Lamberth in the District Court … Continue reading

August 26, 2014

Regulating Fannie and Freddie With The Deal

By David Reiss

Steven Davidoff Solomon and David T. Zaring have posted After the Deal: Fannie, Freddie and the Financial Crisis Aftermath to SSRN. The abstract reads, The dramatic events of the financial crisis led the government to respond with a new form … Continue reading

August 15, 2014

Here: Complaint in Louise Rafter et al. v. U.S.

By David Reiss

Here is a copy of the Complaint in Louise Rafter et al. v. U.S., Pershing Square’s Takings case in the U.S. Court of Federal Claims. I will blog about it later, but thought that some might want to see it … Continue reading

August 5, 2014

Offering Opinions About MBS Exposure

By David Reiss

The Tenth Circuit issued an opinion in MHC Mutual Conversion Fund, L.P. v. Sandler O’Neill & Partners, L.P. et al. (No. 13-1016 Aug. 1, 2014). The case concerns a 2009 stock offering by Bancorp. Bancorp was significantly exposed to mortgage-backed … Continue reading

July 18, 2014

GSE Shareholders Taking Discovery

By David Reiss

Judge Sweeney of the Court of Federal Claims issued an Opinion and Order regarding jurisdictional discovery as well as a related Protective Order in the GSE Takings Case brought by Fairholme against the United States.  I had previously discussed the … Continue reading

June 25, 2014

S&P on Risky Reps and Warranties

By David Reiss

Standard & Poor’s posted New Players In The RMBS Market Could Present Unique Representations And Warranties Risks. It opens, S&P believes that new entrants into the residential mortgage-backed securitization (RMBS) market that make loan-level representations and warranties (R&Ws) may present … Continue reading

June 3, 2014

Discovery War in GSE Litigation

By David Reiss

The United States filed a motion for a protective order in the Fairholme Funds case in the Court of Federal Claims (the Fairholme Takings case). You may not be familiar with protective orders. By way of background, Federal Rule of … Continue reading