Tuesday, June 20, 2017 12:04:08 AM
the GSEs hit zero capital, and congress winds them down, replacing them with a new utility that does the same thing. This is completed by, say, 3 yrs, so from zero cap date, 3 yrs is 2021. Commons are screwed in the restructuring. Then comes a final, ultimate legal decision in 5 yrs (2023) and the court decides the gvt was completely wrong all along and everything it did was illegal. Well, commons were extinguished 2 yrs before that decision, and the GSEs don't exist anymore. What relief can the judge order then?
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