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Richard Epstein Attacks Lamberth Ruling On Fannie Mae

Value Walk, By Michael Ide 

Last week Investors Unite founder Tim Pagliara took some time out from a previously planned event to givehis take on the controversial Lamberth ruling, but this week the organization hosted New York University School of Law professor Richard Epstein to explain his take on the legal standing of Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) shareholders. But even though Epstein sides with the shareholders, that doesn’t mean he thinks they are certain to win their case.

“I thought the government brief was particularly poor in terms of its candor and its sense,” said Epstein, later adding that, “If the government does one thing right and you do one thing wrong, they win. If you do something perfect and the government makes a complete set of blunders then you have a fifty percent chance of winning.”

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