March 6, 2014
Reiss on Fannie/Freddie Suits
Bloomberg BNA quoted me in No Basis for Discovery by GSE Investors, Treasury Department, FHFA Memos Say. It reads [Reproduced with permission from BNA’s Banking Report, 102 BBR 417, 3/11/14. Copyright 2014 by The Bureau of National Affairs, Inc. … Continue reading
March 6, 2014 in Upstream litigation | Permalink | No Comments
March 5, 2014
What $4 Billion Does for Homeowners
Enterprise released a Policy Focus on What the JPMorgan Chase Settlement Means for Consumers: An Analysis of the $4 Billion in Consumer Relief Obligations. It opens, On November 19, 2013, JPMorgan Chase reached a record-setting settlement deal with the federal … Continue reading
March 5, 2014 in Upstream litigation | Permalink | No Comments
March 3, 2014
Fannie and Freddie Boards: Caveat Fairholme
Fairholme Capital Management has sent stern letters to the the boards of Fannie Mae and Freddie Mac (the letters are essentially the same). Fairholme’s funds have millions of common and preferred shares in the two companies and Fairholme has taken … Continue reading
March 3, 2014 in Upstream litigation | Permalink | No Comments
February 25, 2014
FIRREA Does the Hustle
Judge Rakoff has issued another Opinion in U.S. v. Countrywide Fin. Corp. et al., 12 Civ. 1422 (Feb. 17, 2014). Rakoff reconfirms his broad reading of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), which covers fraudulent behavior that … Continue reading
February 25, 2014 in Upstream litigation | Permalink | No Comments
February 19, 2014
Reiss in Bloomberg on CS Lawsuit
Bloomberg quoted me in Credit Suisse Waits for $11 Billion Answer in N.Y. Fraud Suit. It reads in part, As Credit Suisse Group AG (CSGN) sees it, time has run out on New York Attorney General Eric Schneiderman’s pursuit of … Continue reading
February 19, 2014 in Upstream litigation | Permalink | No Comments
January 23, 2014
U.S. Dismissive of Frannie Suits
The Federal Housing Finance Agency filed its motion to dismiss all the claims in Perry Capital v. Lew, D.D.C., No. 13-cv-01025, 1/17/14. I blogged about this case (and similar cases) when they were filed last summer. It is quite interesting … Continue reading
January 23, 2014 in Upstream litigation | Permalink | No Comments
January 22, 2014
S&P’s Fightin’ Words
S&P filed a memorandum in support of its motion to compel discovery in the FIRREA case that the United States brought against S&P last year. S&P comes out fighting in this memorandum, arguing that the “lawsuit is retaliation for S&P’s … Continue reading
January 22, 2014 in Upstream litigation | Permalink | No Comments
