David Felt Quoted in Wall Street Journal Article Entitled "Berkowitz: Treasury’s Rationale for Fannie Bailout Fix Is ‘Nonsense’"

AGG Attorney, David A. Felt, was quoted in a Wall Street Journal article entitled “Berkowitz: Treasury’s Rationale for Fannie Bailout Fix Is ‘Nonsense.’”

“The wording can be interpreted in different ways that people who drew up the document didn’t expect,” said David Felt, a lawyer in private practice who headed litigation for the FHFA until 2010. “I can’t say that the Fairholme interpretation is wrong,” he added. “But even if you view [non-cash payments] as an option, was there a reason for paying a 10% dividend versus a 12% non-cash dividend? It’s pretty obvious that there is because one is cheaper.” Mr. Felt is informally advising some shareholders but isn’t involved in the Fairholme litigation.

To view the entire article, please click here.