Katie Buehler @bykatiebuehler Twitter profile

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Katie Buehler

@bykatiebuehler

10 months

@FedSoc @courtneybuble FWIW, if someone doesn't comply with congressional subpoenas, they can be held in contempt of Congress and charged in federal court for contempt (see Steve Bannon & Peter Navarro). But this fight will likely hit the civil court docket first.

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Katie Buehler

@bykatiebuehler

10 months

#BREAKING : The U.S. Senate Judiciary Committee has voted to subpoena GOP billionaire Harlan Crow and @FedSoc chairman Leonard Leo in its investigation into #SCOTUS ethics. Republican senators walked out of the committee room during the vote, per @courtneybuble .

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Katie Buehler

@bykatiebuehler

10 months

@FedSoc @courtneybuble JUST IN: Leonard Leo says in a statement he won't be complying with any congressional subpoena.

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Katie Buehler

@bykatiebuehler

4 months

NEW: Supreme Court Justice Samuel Alito WILL NOT recuse himself from cases involving #Jan6th or Donald Trump, writing in a letter to Congress he believes a reasonable person would conclude the flag flying incidents do not meet the standards for recusal.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court rules a federal bribery law doesn’t cover gratuities, or gifts given to public officials for acts they’ve already taken. Sotomayor, Kagan & Jackson dissent. (Snyder v. U.S., No. 23-108) #SCOTUS

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court rules presidents are entitled to absolute immunity from criminal prosecution for official acts, but there is no immunity for unofficial acts. (Trump v. U.S., 23-939) #SCOTUS

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court UPHOLDS an Oregon city’s ban on camping in public spaces, finding it doesn’t unconstitutionally criminalize the status of being homeless. Sotomayor, Kagan & Jackson dissent. (City of Grants Pass v. Johnson, No. 23-175) #SCOTUS

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Katie Buehler

@bykatiebuehler

1 year

BREAKING: A DC federal jury found the @FHFA wrongly amended stock purchase agreements related to the governments bailout of @FannieMae & @FreddieMac and awarded shareholders $612.4 million in damages, broken out as follows:

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Katie Buehler

@bykatiebuehler

1 year

UPDATE: The judge ordered Binance & the U.S. Securities and Exchange Commission to try to reach an agreement to secure the U.S. assets but allow Binance to continue operating as usual, which the company said a freeze wouldn’t allow. Binance must file a list of business expenses.

Katie Buehler

@bykatiebuehler

1 year

Later today, a D.C. federal judge will hear the U.S. Securities and Exchange Commission's request to freeze @BinanceUS assets while it pursues claims the crypto exchange violated securities laws. Binance says the request is uneccessary & unjustified.

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Katie Buehler

@bykatiebuehler

3 months

Justice Jackson, joined by Justices Sotomayor & Kagan, saying the majority's "absurd and atextual reading of the statute is one only today's court could love."

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Katie Buehler

@bykatiebuehler

1 year

~Some news~ I'm excited to announce that I'll be covering the US Supreme Court for @Law360 starting this term! This job has been a dream of mine & I'm thankful my editors entrusted it to me. I'm not done with DC courts yet, though, so look out for some final stories this summer.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 5-4 Supreme Court rules Purdue Pharma CANNOT shield members of the Sackler family from liability for the opioid crisis with a release in its bankruptcy plan. JR, SS, EK & BK dissent. (Harrington v. Purdue Pharma, No. 23-124) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

DAY FIVE: @FannieMae and @FreddieMac shareholders have called an accounting & finance expert witness to the stand, who told the jury the @FHFA ’s net worth sweep in 2012 was “totally unprecedented” and unnecessary.

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Katie Buehler

@bykatiebuehler

2 years

A jury of 10 will decide the @FannieMae and @FreddieMac shareholder lawsuit against the @FHFA . Opening arguments will begin tomorrow morning.

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Katie Buehler

@bykatiebuehler

2 years

Seen near the west entrance of the DC federal courthouse. Today, former Trump White House aide Steve Bannon gets sentenced for defying a #Jan6th congressional subpoena.

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Katie Buehler

@bykatiebuehler

2 years

NEW: The retrial of @FannieMae and @FreddieMac shareholders' DC court claims against the @FHFA for improperly amending stock purchase agreements,allowing the Treasury to sweep up the companies' net profits, is scheduled to begin July 24, according to a new court entry.

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Katie Buehler

@bykatiebuehler

2 years

#BREAKING : A DC federal judge has declared a mistrial after a jury reached an “impasse” in deliberations over @FannieMae & @FreddieMac shareholders’ claims that the @FHFA improperly amended stock purchase agreements to allow the U.S. Treasury to sweep up their net worths.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 8-1 Supreme Court UPHOLDS a federal law prohibiting people subject to domestic violence restraining orders from possessing firearms, finding it doesn’t violate the 2nd Amendment. Thomas dissents. (U.S. v. Rahimi, No. 22-915) #SCOTUS

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Katie Buehler

@bykatiebuehler

1 year

A DC judge hasn't ruled yet, but seemed sympathetic to a request today by @FannieMae & @FreddieMac shareholders to introduce additional documents at trial they claim show the Treasury Department was motivated to sweep up the companies' profits in 2012 because of rosy projections.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court rules U.S. citizens do not have a fundamental liberty interest in bringing their noncitizen spouses to the country. Sotomayor, Kagan & Jackson dissent. (Department of State v. Muñoz, No. 23-334) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 months

NEW: Here's @RonWyden 's full letter to Republican megadonor Harlan Crow's attorney, which reveals new, undisclosed private jet trips #SCOTUS Justice Clarence Thomas took between Hawaii and New Zealand on Crow's dime.

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Katie Buehler

@bykatiebuehler

2 years

2. FHFA attempted to block shareholders from using allegedly damning Treasury document in openings, but the judge rejected that based on earlier pretrial rulings. "Good luck on appeal," he told the agency. (2/3) Here's a story about that ruling:

Fannie, Freddie Investors To Use Treasury Docs At Stock Trial - Law360

Fannie Mae and Freddie Mac shareholders can present at a trial starting Monday internal U.S. Department of the Treasury documents they claim support their class action allegation that the government...

www.law360.com

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court says a 6-year deadline to challenge federal agency rules is based on when a company becomes affected by the rule, not when it is issued. Sotomayor, Kagan & Jackson dissent. (Corner Post v. Federal Reserve, No. 22-1008) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

DAY FOUR: Former @FHFA Director Edward DeMarco returned to the witness stand. @FannieMae & @FreddieMac shareholders elicited from him that he didn't listen to the companies' projections of a "roaring recovery" in 2012 because it didn't mesh with his plan to scale them down.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court LIMITS which defendants accused of storming the U.S. Capitol on #Jan6th can be charged by federal prosecutors for obstructing Congress. Sotomayor, Kagan & Barrett dissent. (Fischer v. U.S., No. 23-5572) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

DAY SEVEN: Since I’ve seen this floating around the @FannieMae & @FreddieMac Twitter-sphere and got to court early today, here’s an explanation of the alleged discrepancy in damages requested by shareholders at trial. I will now get back to tweeting trial updates.

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Katie Buehler

@bykatiebuehler

2 years

DAY ONE: Ahead of openings, a few things happened in the @FannieMae and @FreddieMac shareholder stock suit. 1. The judge dismissed current @FHFA Sandra Thompson from the lawsuits at the request of all parties. (1/3)

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Katie Buehler

@bykatiebuehler

2 years

Here's the full @FannieMae & @FreddieMac mistrial story: a lawyer for shareholders thanked the jury and expressed hope for the future. "The fight for justice will continue, and we are confident that we will prevail in the next trial," they said.

Judge Declares Mistrial In Fannie, Freddie Profit Sweep Suit - Law360

A D.C. federal judge declared a mistrial Monday after eight jurors couldn't reach a verdict in a lawsuit brought by shareholders of Fannie Mae and Freddie Mac accusing the Federal Housing Finance...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

@familymang1 @FannieMae @FreddieMac @FHFA Yes. I will try to have daily updates.

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Katie Buehler

@bykatiebuehler

1 year

The U.S. Senate Judiciary Committee votes 11-10 to advance the nomination of Ana de Alba for the Ninth Circuit, who Republican senators have attacked for rulings in two criminal cases she's overseen while on the Eastern District of California bench.

GOP Senators Drill 9th Circ. Pick Over Criminal Case Record - Law360

Republican senators pelted a Ninth Circuit nominee with questions Wednesday over rulings in two criminal cases she has overseen since being confirmed to the Eastern District of California less than a...

www.law360.com

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 9-0 Supreme Court punts on constitutionality of FL & TX laws barring social media platforms from removing content/users based on viewpoint, returning it to lower courts. (Moody v. NetChoice/NetChoice v. Paxton, No. 22-277/22-555) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

At 17 hours into deliberation, jurors have sent another note in the @FannieMae & @FreddieMac shareholders’ lawsuit against the @FHFA , stating they are still deeply divided and may need until Tuesday to agree on a verdict.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: @AOC files articles of impeachment against #SCOTUS Justices Clarence Thomas and Samuel Alito for their "repeated failure over decades to disclose" millions of dollars in gifts. She filed 3 articles against Thomas and 2 against Alito. 🧵

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Katie Buehler

@bykatiebuehler

2 years

DAY TWO: @FannieMae and @FreddieMac shareholders’ first witness is walking jurors through a timeline of events and introducing various documents, including public FAQs issued by @FHFA in 2008 about the conservatorship, emails and facts the parties agreed to before trial.

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Katie Buehler

@bykatiebuehler

2 years

A DC judge will let @FannieMae & @FreddieMac shareholders use at trial Treasury Department documents they claim support their allegation that the government improperly tweaked stock purchasing agreements to allow it to sweep up the companies' net worths.

Fannie, Freddie Investors To Use Treasury Docs At Stock Trial - Law360

Fannie Mae and Freddie Mac shareholders can present at a trial starting Monday internal U.S. Department of the Treasury documents they claim support their class action allegation that the government...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

The expert further rebutted the FHFA's stated reasons for the net worth sweep by testifying that internal projections showed Fannie would only have to pull an additional $6.5 billion from the Treasury between 2012 and 2022; Freddie wouldn't have to pull anything.

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Katie Buehler

@bykatiebuehler

2 years

A DC jury heard today that @FannieMae ’s former CFO saw the @FHFA ’s decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie’s and @FreddieMac ’s net worths as an effort to prevent the companies from recapitalizing.

Ex-Fannie Exec Says Profit Sweep Was Used To Halt Recovery - Law360

Fannie Mae's former chief financial officer saw the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

At the roughly 14-hour mark, the jury still hasn’t reached a verdict in @FannieMae & @FreddieMac shareholders’ lawsuit claiming the @FHFA improperly amended stock purchase agreements to let the US Treasury sweep up their net profits. They will continue tomorrow.

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Katie Buehler

@bykatiebuehler

14 days

NEW: The #Law360Strike is over! 🎉🎉 Our amazing @law360union bargaining committee secured a fair deal with management late last night. Let’s get back to work!

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Katie Buehler

@bykatiebuehler

2 years

If the Treasury had used the warrants, shareholders would’ve gotten dividends as well, the expert explained. The Treasury couldn’t collect dividends on its common shares without both the private preferred and common stockholders getting paid as well.

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Katie Buehler

@bykatiebuehler

1 year

. @FannieMae & @FreddieMac shareholders will have a few more Treasury Department docs in their arsenal as they kick off a retrial over claims the @FHFA improperly amended stock purchase agreements to allow the Treasury to sweep up the companies' net worths.

Fannie, Freddie Investors Set For Retrial Over Profit Sweeps - Law360

Fannie Mae and Freddie Mac shareholders will have a few more internal U.S. Treasury Department documents in their arsenal as they kick off a retrial Monday in Washington, D.C., over claims the...

www.law360.com

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Katie Buehler

@bykatiebuehler

1 year

Also today at the DC federal courthouse, jury selection continues in the retrial of @FannieMae & @FreddieMac shareholders’ claims that the @FHFA improperly amended stock purchase agreements in 2012 to allow the Treasury Department to sweep up the companies’ net profits.

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Katie Buehler

@bykatiebuehler

2 years

DeMarco himself is now on the stand. The shareholders elicited testimony from him that while the FHFA had a “team of people” analyzing a parallel proposal that would’ve forgiven mortgage principals for certain homeowners, there was no such team analyzing the net worth sweep.

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Katie Buehler

@bykatiebuehler

2 years

The court is in a 45 minute break as we wait for a juror. Both parties said their openings will take 1.5 hours each, so they will likely go into the afternoon. (3/3)

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Katie Buehler

@bykatiebuehler

2 years

DAY THREE: Before the jury came in, an audibly upset attorney for @FannieMae & @FreddieMac shareholders told a DC judge their case was hurt yesterday when an expert witness was removed from the courtroom. Usually, expert witnesses are allowed to watch trial, unlike normal ones.

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Katie Buehler

@bykatiebuehler

1 year

Attorneys presented closing arguments in DC federal court today over @FannieMae & @FreddieMac shareholders' claim that the @FHFA in 2012 improperly amended terms of the companies' 2008 bailout plan to allow Treasury to sweep up the pair's net worths. (Warning: long🧵)

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Katie Buehler

@bykatiebuehler

2 years

DAY TEN: The @FannieMae & @FreddieMac shareholders wrapped up their rebuttal case this morning, noting the 2012 predictions relied on by their expert in saying the @FHFA ’s net worth sweep was unreasonable were called “credible, reliable and reasonable” by former Fannie CEO.

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Katie Buehler

@bykatiebuehler

2 years

Yesterday, former @FHFA Director Edward DeMarco admitted to a DC jury that the agency didn't conduct any analysis/studies before allegedly improperly amending stock purchase agreements to allow the Treasury to sweep up @FannieMae & @FreddieMac net worths.

FHFA Says It Didn't Study Fannie, Freddie Profit Sweep Effect - Law360

Former Federal Housing Finance Agency Director Edward DeMarco admitted to a D.C. federal jury Thursday that the agency didn't conduct any analysis or studies before allegedly improperly amending...

www.law360.com

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Katie Buehler

@bykatiebuehler

4 months

#BREAKING : #SCOTUS Justice Clarence Thomas failed to disclose THREE additional trips paid for by Republican billionaire Harlan Crow, per financial records obtained by the Senate Judiciary committee. Crow paid for Thomas' private jet travel in May 2017, March 2019 and June 2021.

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Katie Buehler

@bykatiebuehler

2 years

He also admitted he didn't talk to accountants, the FHFA's chief economist or its modeling division before agreeing to the net worth sweep.

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Katie Buehler

@bykatiebuehler

1 year

DC District Judge Royce Lamberth unsealed an opinion on recent rulings over which Treasury docs @FannieMae & @FreddieMac shareholders can use in a retrial claiming the @FHFA improperly amended stock purchase agreements to sweep up the companies' net worths.

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Katie Buehler

@bykatiebuehler

2 years

A financial expert for @FannieMae & @FreddieMac shareholders told a DC jury that public filings, internal documents & internal communications show it wasn't reasonably necessary for the @FHFA in 2012 to amend the terms of the U.S. Treasury's bailout deal.

Jury Told Fannie, Freddie Profit Sweep Was 'Unprecedented' - Law360

A financial expert told a D.C. federal jury on Monday that the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and...

www.law360.com

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Katie Buehler

@bykatiebuehler

1 year

DC Jurors deliberated for ~5 hours today & will return Monday in the trial over claims by @FannieMae & @FreddieMac shareholders that @FHFA improperly amended terms of the companies’ 2008 bailout agreements to allow Treasury to sweep up their net worths. They asked for 2 things:

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Katie Buehler

@bykatiebuehler

2 years

DAY SIX: The day started off with the final bit of the @FannieMae & @FreddieMac shareholders’ financial expert’s testimony. The @FHFA pointed out once again that under the net worth sweep, the companies would pay less than a 10% dividend if they didn’t make enough in profits.

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Katie Buehler

@bykatiebuehler

3 months

JUST IN: #SCOTUS denies Steve Bannon's bid to stay out of prison while he appeals his contempt of Congress conviction.

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Katie Buehler

@bykatiebuehler

2 years

A DC jury heard witnesses read portions of a @FHFA 2008 FAQ sheet about the government's bailout of @FannieMae & @FreddieMac as shareholders sought to establish the deal's original intent, which they say the U.S. Treasury strayed from in 2012.

DC Jurors Hear Original Fannie Mae, Freddie Mac Bailout Plan - Law360

A D.C. federal jury on Wednesday repeatedly heard witnesses read portions of a Federal Housing Finance Agency 2008 FAQ sheet about the government's bailout of Fannie Mae and Freddie Mac as sharehol...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

No verdict today. The jury deliberated for a few hours and will return tomorrow.

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Katie Buehler

@bykatiebuehler

2 years

Coming up after lunch: shareholders' will present their first expert witness who is expected to discuss how the net worth sweep wasn't a reasonable decision despite claims by former FHFA officials.

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Katie Buehler

@bykatiebuehler

2 years

The data also doesn’t support former FHFA Director Edward DeMarco’s claim that the net worth sweep was implemented to shrink Fannie and Freddie, the expert said. The companies have grown since 2012 and currently have gained an average of $1 trillion in assets.

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Katie Buehler

@bykatiebuehler

2 years

A DC federal jury was told the @FHFA 's decision to amend @FannieMae & @FreddieMac stock purchase agreements to let the U.S. Treasury sweep up the companies' net worths made their stocks essentially worthless & dashed their hopes of receiving dividends.

Jury Hears Final Arguments Over Fannie, Freddie Profit Sweep - Law360

A D.C. federal jury was told Monday the Federal Housing Finance Agency's decision to amend Fannie Mae and Freddie Mac stock purchase agreements and let the U.S. Treasury sweep up the companies' net...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

He said his analysis showed the threat of circular draws eroding the Treasury Department’s investment didn’t exist. The agency has said the draws were one of its main reasons behind the net worth sweep.

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Katie Buehler

@bykatiebuehler

2 years

The jury began deliberations around 1:40 p.m.

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Katie Buehler

@bykatiebuehler

1 year

. @FannieMae & @FreddieMac shareholders emphasized the need for government accountability in a new bid for $1.6B in damages from the @FHFA for allegedly improperly amending stock purchase agreements to allow the Treasury to sweep up the companies' profits.

Fannie, Freddie Shareholders Target Accountability In Retrial - Law360

Fannie Mae and Freddie Mac shareholders on Wednesday emphasized the need for government accountability in their second bid to claim $1.6 billion in damages from the Federal Housing Finance Agency for...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

While the companies' SEC filings were dim, internal documents and meetings allegedly showed a more hopeful future for the companies.

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Katie Buehler

@bykatiebuehler

2 years

Shareholders argued if the jury could find just one of three facts true, they deserve damages in this case: 1. The sweep was a “grossly inadequate process” 2. FHFA’s reasons behind it make no sense 3. The agency’s true motive was different that it’s stated reasons.

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@bykatiebuehler

3 months

Dems @SenWhitehouse & @RonWyden have asked AG Merrick Garland to appoint a special counsel to investigate #SCOTUS Justice Thomas' "possible violations of federal ethics and tax laws," saying they fear inaction will lead to additional crimes. Letter:

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@bykatiebuehler

4 months

NEW: @SenBlumenthal of Connecticut plans to introduce the Shadow Docket Sunlight Act of 2024, requiring #SCOTUS to explain its emergency docket decisions and provide a breakdown of the justices' votes in those cases, per @FixTheCourt . Bill:

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Katie Buehler

@bykatiebuehler

2 years

DC federal judge Amy Berman Jackson will assume senior status in May, according to an Administrative Office of the U.S. Courts database, giving President Biden the opportunity to nominate another judge to the bench. Story by @JaackRodgers

DC District Judge Berman Jackson To Take Senior Status - Law360

U.S. District Judge Amy Berman Jackson of the District of Columbia federal court will assume senior status in May, according to the Administrative Office of the U.S. Courts' database on future...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

In spite of a #COVID scare and mistrial request, a DC jury continued deliberating in @FannieMae & @FreddieMac shareholders' lawsuit alleging the @FHFA improperly amended stock purchase agreements to let the U.S. Treasury sweep up their net profits.

Jury Continues Deliberations On Fannie, Freddie Profit Sweep - Law360

A D.C. federal jury continued deliberating Wednesday in spite of a COVID-19 scare and request for a mistrial in Fannie Mae and Freddie Mac shareholders' lawsuit accusing the Federal Housing Finance...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

DAY ELEVEN: The @FHFA continued closing arguments today by warning jurors that they can't examine the @FannieMae & @FreddieMac net worth sweep with hindsight. They must approach it the way the agency did at the time, with concerns about the uncertain future.

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@bykatiebuehler

2 years

He also said that if the Treasury wanted a larger dividend, it could have used stock warrants the companies offered it, which would give the Treasury control of 80% of the companies’ common share stocks.

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Katie Buehler

@bykatiebuehler

2 years

The DC jury in @FannieMae & @FreddieMac shareholders’ suit against the @FHFA has submitted a note to the court saying it might not be able to agree on a verdict. The note states the 8-person jury is split 50/50 with very strong feelings on both sides.

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Katie Buehler

@bykatiebuehler

6 months

🚨 #BREAKING : The Supreme Court votes 6-3 to allow Idaho to implement its Vulnerable Child Protection Act, which bans gender-affirming care for minors. Justices Sotomayor, Kagan & Jackson dissent from the decision. #SCOTUS

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Katie Buehler

@bykatiebuehler

1 year

Ex- @FHFA acting Director Edward DeMarco seemingly altered his testimony in the retrial of @FannieMae & @FreddieMac shareholders' claims that the agency improperly amended stock purchase agreements to allow Treasury to sweep up the companies' net worths.

Ex-FHFA Director Differs Testimony In Fannie, Freddie Retrial - Law360

Former Federal Housing Finance Agency acting Director Edward DeMarco seemingly altered aspects of his testimony Tuesday in the retrial of Fannie Mae and Freddie Mac shareholders' claims that the...

www.law360.com

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Katie Buehler

@bykatiebuehler

1 month

A 5-4 Supreme Court rules Arizona can enforce part of its new voter law. The state can require proof of citizenship for people newly *registering* to vote, but not for people *voting* in the 2024 election. #SCOTUS

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Katie Buehler

@bykatiebuehler

4 months

In the letter Justice Alito provides additional details about the flag-flying incidents. 1. He wasn't aware of the upside-down flag at first but then requested it be taken down, but his wife refused for several days.

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Katie Buehler

@bykatiebuehler

2 years

Former FHFA Director Edward DeMarco should’ve requested extensive analysis & asked the agency to update its models before making a decision. It’s not a coincidence the sweep was implemented after the companies reported profits for the first time in years, the shareholders claim.

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Katie Buehler

@bykatiebuehler

2 years

A DC jury was told the @FHFA should pay $1.6B for improperly amending stock purchase agreements to allow the U.S. Treasury to sweep up the companies' net worths, an amount equal to the drop in of @FannieMae shares and @FreddieMac shares after the changes.

Fannie Mae, Freddie Mac Shareholders Seek $1.6B - Law360

Fannie Mae and Freddie Mac shareholders told a D.C. federal jury Tuesday they are seeking $1.6 billion in damages from the Federal Housing Finance Agency, alleging it improperly amended stock...

www.law360.com

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Katie Buehler

@bykatiebuehler

2 years

The real issue, he added, is that there is "zippo, zero, zilch" in evidence to show the FHFA analyzed the sweep before implementing it. "I know they didn't know the future but they knew it was getting better," he said.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 6-3 Supreme Court rules the Securities & Exchange Commission CANNOT use in-house courts to pursue sanctions for fraud & securities law violations. Sotomayor, Kagan & Jackson dissent. (SEC v. Jarkesy, No. 22-859) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

Both sides told the court their closing arguments will take 2 hours each roughly. The jury has also requested to leave by 5 p.m. today for Trick-or-Treating, so it is unclear whether the jury will have time to start deliberating today.

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Katie Buehler

@bykatiebuehler

3 months

BREAKING: A 7-2 Supreme Court UPHOLDS the IRS’s one-time repatriation tax on income held offshore, rejecting a constitutional challenge to the tax. Thomas & Gorsuch dissent. (Moore v. U.S., No. 22-800) #SCOTUS

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Katie Buehler

@bykatiebuehler

5 months

#BREAKING : A 7-2 Supreme Court UPHOLDS the Consumer Financial Protection Bureau’s independent funding mechanism, rejecting a financial industry-backed constitutional challenge. Alito & Gorsuch dissent. (CFPB v. Community Financial, No. 22-448) #SCOTUS

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Katie Buehler

@bykatiebuehler

3 months

#BREAKING : A 5-4 Supreme Court rules the @EPA CANNOT implement its multi-state ‘Good Neighbor’ Plan to reduce cross-state pollution while affected states challenge its legality. Sotomayor, Kagan, Barrett & Jackson dissent. (Ohio v. EPA, No. 23A349) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

Now, an actor is reading former Fannie CFO Susan McFarland’s testimony. She said she thought the net worth sweep was a direct response to the company’s positive projections, saying she saw it as a product of the FHFA & Treasury’s desire to prevent them from recapitalizing.

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Katie Buehler

@bykatiebuehler

2 years

Some personal news: I'm excited to announce that, starting today, I am the new D.C. courts reporter for @Law360 . I'm ecstatic to tackle this new beat. Watch out for coverage of D.C. courts and other courts in the metro area.

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Katie Buehler

@bykatiebuehler

4 months

#BREAKING : A 5-4 Supreme Court rules the federal government MUST reimburse Native American tribes for administrative healthcare costs related to insurer-funded services. BK, CT, SA & ACB dissent. (Becerra v. San Carlos Apache Tribe, No. 23-250) #SCOTUS

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Katie Buehler

@bykatiebuehler

2 years

DeMarco said the fact that Treasury's committement was the only thing keeping Fannie Mae and Freddie Mac afloat, he figured the companies' net worths would equal a "reasonable" committment fee for Treasury's help. No one at FHFA attempted to calculate the fee's actual amount.

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Katie Buehler

@bykatiebuehler

2 years

For what it’s worth, the jury all left together, talking and laughing. Not sure what that means verdict-wise.

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Katie Buehler

@bykatiebuehler

16 days

📣 Calling all DC folks! The local @law360union contingent will be picketing for a fair contract tomorrow from 11 am to 1 pm! Supporters are welcome to join us at 1107 17th St NW to show @Law360 & @LexisNexis management we mean business. WEAR RED!! #Law360Strike #LawTwitter

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Katie Buehler

@bykatiebuehler

4 months

2. He wasn't familiar with the "Appeal to Heaven" flag's meaning in relation to the 2020 election, but he doesn't say the same about the upside-down American flag.

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Katie Buehler

@bykatiebuehler

2 years

The shareholders also pointed out that his opinion that the net worth sweep was a reasonable decision didn’t take into account one of the FHFA’s original stated goals of returning the companies to the shareholders.

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Katie Buehler

@bykatiebuehler

2 years

DAY NINE: The @FHFA ’s financial consultant was back on the stand and faced additional questions from the @FannieMae & @FreddieMac shareholders. The shareholders challenged his use of bond yields, or returns on investment, to measure the market’s reaction to the net worth sweep.

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Katie Buehler

@bykatiebuehler

4 months

3. His wife, who also allegedly didn't know the significance, didn't fly it to associate with any group. And that a group's use of a flag, he claims, doesn't drain it of all other meaning.

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Katie Buehler

@bykatiebuehler

1 year

SEEN: Ex- @FHFA Acting Director Ed DeMarco in the security line at the DC federal courthouse. He will testify later today in a trial over claims the agency improperly amended stock purchase agreements in 2012 to allow Treasury to sweep up @FannieMae & @FreddieMac net profits.

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Katie Buehler

@bykatiebuehler

2 years

Counsel for @FannieMae & @FreddieMac shareholders once again moved for a mistrial in their trial against @FHFA after revealing the final jury note sent Friday told the court for the third time the jury is sharply divided. The court denied that motion.

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Katie Buehler

@bykatiebuehler

3 months

TL;DR: The federal bribery law does not regulate state & local officials' acceptance of gratuities, Kavanaugh wrote for the court. That job is for state & local governments.

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Katie Buehler

@bykatiebuehler

2 years

The jury has officially left for the weekend after deliberating for roughly 18 hours total. They will return Monday.

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Katie Buehler

@bykatiebuehler

2 years

Court is done for the day. Story coming soon.

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Katie Buehler

@bykatiebuehler

2 years

The shareholders said they wouldn’t argue that, but said they planned to show the $33B+ in total shareholder investments in the companies ahead of the conservatorship as context of the case. Jurors already saw those numbers during opening statements.

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