Monday, January 20, 2014

Fannie Mae and Freddie Mac Conservatorship Violates 5th Amendment

sully_5353  Jul 12, 2013 4:59 AM Flag

Type this into You Tube !! Fannie Mae and Freddie Mac Conservatorship Violates 5th Amendment

Published on Jul 12, 2013

Matthew D. McGill is a partner in the Washington, D.C. office of Gibson, Dunn & Crutcher. He practices in the firm's Litigation Department and its Appellate and Constitutional Law and Intellectual Property practice groups.

"This lawsuit seeks to uphold the rule of law," said Theodore Olson, partner at Gibson, Dunn & Crutcher and former Solicitor General of the United States. "HERA established very specific rules about the government's limits and obligations under conservatorship. Investors had every right to expect these rules to be followed. If the government wanted to assume the powers of receivership, it could have chosen that course. Instead it chose conservatorship, and with the Sweep Amendment it overreached, exceeding the legal boundaries of the statute and failing to meet obligations of conservatorship mandated by Congress under HERA."

I think all you Longs will enjoy this one !!

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