Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

Well, there is uncertainty, but we could come up with some "what ifs" just for fun. One thing I was thinking about was what if the Court of Appeals comes out with a bad decision (mostly Ds on the DC circuit now). Would the conservative block on SCOTUS possibly enjoy overturning them. Possibly, yes.

On what grounds? The discretion of a conservator is limited in the sense that they should stay within their authority under the regulatory statute? Possibly, yes.

There is some evidence that SCOTUS doesn't think that the discretion of a regulator (and perhaps even a conservator) is unlimited.

Since I'm not a lawyer let me just add that society would be better off if legitimate property rights are respected. Unlimited discretion without judicial oversight could be bad from a public policy standpoint.