January 29, 2015

Krimminger and Calabria on Conservatorships

By David Reiss

By Michael Krimminger and Mark Calabria have shared The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles. The paper opens, When the Federal Housing Finance Agency (“FHFA”) was appointed conservator for Fannie Mae and … Continue reading

November 5, 2014

GSE Nationalization and Necessity

By David Reiss

Nestor Davidson has posted Nationalization and Necessity: Takings and a Doctrine of Economic Emergency to SSRN. This essay will be of interest to those following the Fannie/Freddie shareholder litigation. The abstract reads, Serious economic crises have recurred with regularity throughout … Continue reading

December 3, 2013

Is Banks’ $200 Billion Payout from RMBS Lawsuits Enough?

By David Reiss

S&P issued a brief, The Largest U.S. Banks Should Be Able To Withstand The Ramifications Of Legal Issues, that quantifies the exposure that big banks have from litigation arising from the Subprime Crisis: Since 2009, the largest U.S. banks (Bank … Continue reading

November 20, 2013

Reiss on $13B JPMorgan Settlement in CSM

By David Reiss

The Christian Science Monitor quoted me in JPMorgan Chase settles. Is $13 billion for role in mortgage crisis fair? The story reads in part, The settlement does not, however, release any individuals within JPMorgan from further criminal or civil charges. … Continue reading

November 15, 2013

Reiss on Fannie and Freddie Buyout

By David Reiss

Law360 quoted me in Fairholme Changes The Game For Fannie And Freddie (behind a paywall).  It reads in part, Fairholme Capital Management LLC’s plan to buy Fannie Mae’s and Freddie Mac’s insurance businesses will likely turn out to be more … Continue reading

October 10, 2013

Pandora’s Credit Box

By David Reiss

Jim Parrott and Mark Zandi posted Opening the Credit Box, a call for “[e[asing mortgage lending standards.” (2) Parrott has had high level positions in the Obama Administration and Zandi, Moody’s Analytics’ chief economist, was mentioned as a possible Director … Continue reading

September 10, 2013

Borden and Reiss on High-Stakes MBS Litigation

By David Reiss

Brad and I posted Goliath Versus Goliath in High-Stakes MBS Litigation on SSRN (and BePress).  The abstract reads, The loan-origination and mortgage-securitization practices between 2000 and 2007 created the housing and mortgage-backed securities bubble that precipitated the 2008 economic crisis … Continue reading