Fannie Mae-No Politics (FNMA)

[Mikey Mike]

Directors have a fiduciary duty when not in conservatorship yet the conservator can do whatever the conservator wants? What in the world??? The conservator stepped into the shoes of the directors to make the correction necessary to steer the companies in the right path to healthy companies. Which includes fiduciary duties to shareholders, but is not limited to shareholders.

As a regulator the fiduciary doesn't exist, not as a conservator. As a conservator, the conservator does have the responsibility and is accountable for his or her actions to the conservatee since the conservator is also wearing the shoes of the directors of the company(s).

Also all cases have to follow suit with every other past cases not just appeals. If past cases exist that does not follow suit with any other previous cases or new evidence arise, then the appellate court may overturn a case for that reason. Hence, trying a case to uphold laws to paint a bigger picture or as you say, "the whole enchilada". Which means every pending cases will follow every other court case's verdict, not just the appellate court's.