Fannie Mae Privileged Info Could Threaten Financial Markets: Sweeney
Value Walk - October 16, 2014 - October 17, 2014
Value Walk, By Michael Ide
Judge Sweeney rejected Fairholme’s request to let former Fannie Mae CFO review privileged documents because their disclosure could ‘place the nation’s financial markets in jeopardy’
When Bruce Berkowitz’s Fairholme Funds brought in Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) former CFO Tim Howard to help them with discovery, the government got defensive pretty quickly. But yesterday Judge Margaret Sweeney ruled (h/t David Sims) that he wouldn’t be allowed to view any of the documents “because disclosure of the protected information could place this nation’s financial markets in jeopardy, a risk that the court is not willing to take.”
Read full article here: Fannie Mae Privileged Info Could Threaten Financial Markets: Sweeney