Fannie Mae-No Politics (FNMA)

[harding0]

thanks obit. as much as i want to impugn millet, ginsberg and lamberth i think they were trying to avoid appearing as if "legislating from the bench." that is they applied a textualist approach to the statute, keying in on the word "may", and concluding that it permits rather than compels conservator behavior. obviously when looking at the result that is the nws this seems absurd, but to the judges, an absurd result doesnt necessarily violate the statute (lamberth said as much when he wrote nws may engender feelings of discomfort).

how do you see this affecting the delaware case? i believe judge sleet argued that hera's antiinjunction provision does not preempt delaware law, and therefore the courts can proceed in determining whether nws violated 151(c). do you have any opinions on how strong this argument is?