Join CFIF Corporate Counsel and Senior Vice President Renee Giachino today from 4:00 p.m. CST to 6…
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This Week's "Your Turn" Radio Lineup

Join CFIF Corporate Counsel and Senior Vice President Renee Giachino today from 4:00 p.m. CST to 6:00 p.m. CST (that’s 5:00 p.m. to 7:00 p.m. EST) on Northwest Florida’s 1330 AM WEBY, as she hosts her radio show, “Your Turn: Meeting Nonsense with Commonsense.”  Today’s guest lineup includes:

4:00 CST/5:00 pm EST:  Ambassador Terry Miller, Director, Center for Data Analysis and The Center for Trade and Economics and Mark A. Kolokotrones Fellow in Economic Freedom at the Institute for Economic Freedom and Opportunity at The Heritage Foundation - 2016 Index of Economic Freedom;

4:30 CST/5:30 pm EST:  Bradley A. Smith, Chairman and Founder of the Center for Competitive Politics and Former Chairman of the Federal Election Commission - 40th Anniversary of Buckley[more]

February 08, 2016 • 01:59 pm

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Jester's CourtroomLegal tales stranger than stranger than fiction: Ridiculous and sometimes funny lawsuits plaguing our courts.
Press Releases
CFIF Files Amicus Brief Against Treasury Department’s Illegal Seizure of All Fannie Mae/Freddie Mac Net Profits Print E-mail
Tuesday, July 07 2015

The Center for Individual Freedom yesterday filed an amicus brief in the United States Court of Appeals for the District of Columbia Circuit in the case of Perry Capital LLC v. Lew.

The brief, authored by Myron T. Steele, the former Chief Justice of the Delaware Supreme Court and now a partner at the Delaware law firm of Potter Anderson & Corroon LLP, was filed in support of private stockholders of Fannie Mae and Freddie Mac who effectively lost all value in their shares when the government opted for a conservatorship that granted the Treasury Department senior preferred stock status that allows for a “Net Worth Sweep” of the corporations’ net profits in perpetuity.

The brief demonstrates that “[t]he ‘Net Worth Sweep’ is unenforceable and void ab initio under Section 151 of the Delaware General Corporation Law.”  In addition to discussing how the Net Worth Sweep is invalid, the brief reminds the court of protections under Delaware law that preclude preferred stockholders from obtaining a perpetual claim on all the residual earnings of the companies to the exclusion of common stockholders.

The amicus brief can be found here (PDF).

 


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Question of the Week   
The tradition of New Hampshire’s first-in-the-nation primary began in which one of the following years?
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—Rowan Scarborough, The Washington Times
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