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Freddie & Fannie Shareholder Litigation Update

Litigation Practice Group Teleforum Thursday, March 02, 02:00 PMFederalist Society Teleforum Conference Call

During the 2008 financial crisis, Congress provided Fannie Mae and Freddie Mac with billions of dollars in emergency funds to keep them afloat, supplemented by the investments of private investors who bet that these entities would return to profitability. In 2012, just as Fannie and Freddie were indeed becoming profitable again, the Government instituted a "net worth sweep" that required them to remit to the government nearly all of their profits every quarter. Fannie and Freddie have paid the government over $246 billion so far. In the process, the stock was rendered virtually worthless. Investors filed myriad lawsuits as the net worth sweep came into effect. After four years of litigation and an initial dismissal by the district court, the D.C. Circuit has now largely affirmed but also sent key contract-based claims for monetary relief back to the district court for further review. This Teleforum discusses this historic litigation, its implications for the housing market and the proper role of the Government, and the investors' prospects for success on their claims.

Featuring:

  • John Carney, Editor, Breitbart News
  • Jason A. Levine, Litigation Partner, Vinson & Elkins LLP 

2017 James Kent Summer Academy

2017 Faculty Division Summer Conference for Students Interested in Academia Wednesday, August 02, 12:00 AMAnnapolis, MD
Annapolis Maryland Main Street

The Federalist Society’s James Kent Summer Academy is a program for students and recent graduates who demonstrate strong potential for being leaders among a future generation of legal scholars. Participants will have an opportunity to engage in academic discourse, to learn about an academic career track, to deepen their understanding of key ideas about the law, the founding period, originalism, religious liberty, and markets and the law, and to receive some personalized career planning and publishing guidance.

The Academy will take place in early August in Annapolis, MD. This all-expenses-paid conference will include seminar-style sessions guided by a group of leading faculty, informational sessions and workshops for professional development, and the opportunity to connect to a community of talented students and scholars. Confirmed speakers include Randy Barnett (Georgetown Law Center), Robin Fretwell Wilson (University of Illinois College of Law), Dan Kelly (Notre Dame Law School), Julia Mahoney (University of Virginia School of Law), and G. Marcus Cole (Stanford Law School). Participants will also receive invitations to ongoing events and academic and professional development resources throughout the year.  

The program is intended for students and recent graduates (three years or less out of law school), including prospective or current clerks, with a serious interest in an academic career, who would contribute to the intellectual diversity of the legal academy, and who are beginning to develop their legal scholarship. Applicants should possess strong academic qualifications.

Applications are due no later than March 31, 2017.

Applications should be submitted online here. If you have any questions about this event, please email anthony.deardurff@fed-soc.org.

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