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NY Times Pushes For Access To DeMarco’s Deposition On Fannie Mae

By Michael Ide

The The New York Times Company (NYSE:NYT) has filed a motion to intervene in the Fairholme Funds lawsuit against the government over the Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA)/Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) conservatorship and full income sweep. The newspaper wants some testimony currently designated as Protected to be released so that they (and the rest of us in the media) can report on it. Fannie Mae longs, who believe the government acted in bad faith, are excited about getting more information released, but even people with no interest in the case should support what’s really just a push for greater transparency.

“This court has recognized that the public has an enforceable interest in access to discovery, which is to be balanced against the parties’ interest in confidentiality,” says the NY Times filing. “The courts have repeatedly recognized that disclosure of discovery is particularly appropriate when a lawsuit sheds light on the performance of governmental agencies and entities – which is precisely the case here.”

Read the full article: NY Times Pushes For Access To DeMarco’s Deposition On Fannie Mae