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Posted On: 02/21/2017 3:01:26 PM
Post# of 23063
WASHINGTON – Investors Unite Founder Tim Pagliara released the following statement in response to today’s decision by the D.C. Circuit Court of Appeals:
“We are pleased that the D.C. Circuit acknowledged that shareholders have direct contract rights which must be respected and we look forward to a resolution of those rights. We respectfully disagree with the opinion that FHFA has the power to do whatever it wants with Fannie Mae and Freddie Mac. Neither HERA, nor any other statute gives it such power. Meanwhile, the net worth sweep continues to place the U.S. taxpayer at risk by depriving these companies of adequate capital. We hope that the Trump Administration will put an end to this wrong by ending the sweep now and restoring the rights of shareholders.”
About Investors Unite: Formed by Tennessee activist investor and CapWealth Advisors Chairman and CEO, Tim Pagliara, Investors Unite (www.investorsunite.org) is a coalition of over 1,400 individual Fannie Mae and Freddie Mac shareholders from all walks of life, committed to the preservation of shareholder rights for all invested in the GSEs.
“We are pleased that the D.C. Circuit acknowledged that shareholders have direct contract rights which must be respected and we look forward to a resolution of those rights. We respectfully disagree with the opinion that FHFA has the power to do whatever it wants with Fannie Mae and Freddie Mac. Neither HERA, nor any other statute gives it such power. Meanwhile, the net worth sweep continues to place the U.S. taxpayer at risk by depriving these companies of adequate capital. We hope that the Trump Administration will put an end to this wrong by ending the sweep now and restoring the rights of shareholders.”
About Investors Unite: Formed by Tennessee activist investor and CapWealth Advisors Chairman and CEO, Tim Pagliara, Investors Unite (www.investorsunite.org) is a coalition of over 1,400 individual Fannie Mae and Freddie Mac shareholders from all walks of life, committed to the preservation of shareholder rights for all invested in the GSEs.
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