Yousef v. United States of America

Filing 11

OPINION & ORDER re: 6 MOTION to Amend/Correct 1 Motion to Vacate/Set Aside/Correct Sentence (2255). filed by Jamal Yousef. For the reasons stated above, Yousef's motions for (1) a sentence modification pursuant to 18 U.S.C. § 3582(c) (No. 08 Cr. 1213 (JFK), ECF No. 94), (2) vacation, setting aside, or correction of sentence pursuant to 28 U.S.C. § 2255 (No. 16 Civ. 8189 (JFK), ECF No. 1), and (3) amendment of his previous 28 U.S.C. § 2255 motion (No. 16 Civ. 8189 (JFK), ECF No. 6 & No. 08 Cr. 1213 (JFK), ECF No. 101) are DENIED. The Court declines to issue a certificate of appealability because Yousef has not made a "substantial showing of the denial of a constitutional right." 28 U.S.C. & #167; 2253(c) (2); Krantz v. United States, 224 F.3d 125, 127 (2d Cir. 2000). Further, the Court certifies, pursuant to 28 U.S.C. § 1915(a) (3), that anyappeal from this Order would not be taken in good faith. See Coppedge v. United States, 369 U.S. 438, 444-45 (1962). The Clerk of Court is respectfully directed to terminate the motions docketed (1) in No. 08 Cr. 1213 at ECF Nos. 92, 94, 96, 100, and 101, and (2) in No. 16 Civ. 8189 at ECF No. 6. SO ORDERED. (Signed by Judge John F. Keenan on 4/8/2019) (anc)

Case 1:09-md-02013-PAC Document 57

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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In re FANNIE MAE 2008 SECURITIES
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LITIGATION
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Filed 09/30/10 Page 1 of 45
USDC SDNY
DOCUMENT
ELECTRONICALLY FILED
DOC #: _________________
DATE FILED: 04/08/2019
08 Civ. 7831 (PAC)
09 MD 2013 (PAC)
OPINION & ORDER

HONORABLE PAUL A. CROTTY, United States District Judge:
BACKGROUND1
The early years of this decade saw a boom in home financing which was fueled, among
other things, by low interest rates and lax credit conditions. New lending instruments, such as
subprime mortgages (high credit risk loans) and Alt-A mortgages (low-documentation loans)
kept the boom going. Borrowers played a role too; they took on unmanageable risks on the
assumption that the market would continue to rise and that refinancing options would always be
available in the future. Lending discipline was lacking in the system. Mortgage originators did
not hold these high-risk mortgage loans. Rather than carry the rising risk on their books, the
originators sold their loans into the secondary mortgage market, often as securitized packages
known as mortgage-backed securities (“MBSs”). MBS markets grew almost exponentially.
But then the housing bubble burst. In 2006, the demand for housing dropped abruptly
and home prices began to fall. In light of the changing housing market, banks modified their
lending practices and became unwilling to refinance home mortgages without refinancing.

1

Unless otherwise indicated, all references cited as “(¶ _)” or to the “Complaint” are to the Amended Complaint,
dated June 22, 2009. For purposes of this Motion, all allegations in the Amended Complaint are taken as true.

1