Fannie Mae-No Politics (FNMA)

[obiterdictum]

Hi chessmaster315,

Have you read the En Banc decision,

Yes.

and, what is your assessment of that decision relative to shareholders

That question is too broad to give a concise answer. Please try to be more specific.

Do you think the government can appeal to the Supreme Court?

FHFA can attempt to petition for a writ of certiorari for Count IV. There is no certainty that that will be done or not.

Count 1 has been reversed and remanded to the District Court and cannot be appealed to a higher court until entry of judgment has been made by the District Court after a trial or summary judgment. Treasury will not appeal Counts II and III since those have been affirmed by the en banc panel.

Even if they do appeal, isnt it true that the most likely outcome is the certorri is denied,

That is not true. There is a constitutional issue conflict with the removal "for cause" statutory provision. The Fifth Circuit Court of Appeals en banc decision conflicts with DC Court of Appeals en banc decision concerning the removal "for cause" statutory provision (see: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150999070). So, per Rule 10 of the Supreme Court, this may be a case where a grant of a writ of certiorari is possible.

Rule 10. Considerations Governing Review on Writ of Certiorari

Review on a writ of certiorari is not a matter of right, but of judicial discretion. A petition for a writ of certiorari will be granted only for compelling reasons. The following, although neither controlling nor fully measuring the Court's discretion, indicate the character of the reasons the Court considers:

(a) a United States court of appeals has entered a decision in conflict with the decision of another United States court of appeals on the same important matter; has decided an important federal question in a way that conflicts with a decision by a state court of last resort; or has so far departed from the accepted and usual course of judicial proceedings, or sanctioned such a departure by a lower court, as to call for an exercise of this Court's supervisory power; - https://www.law.cornell.edu/rules/supct/rule_10

and that means the en banc decision stands as written?

If FHFA does not make a petition to the Supreme Court or if there is a petition and the Supreme Court does not grant the writ of certiorari, then the en banc decision stands as entered.

Assuming there is no successful appeal to the US supreme court, do you have an opinion on "implementation" of the remand to the lower courts?

No. The parties have to present the case once again. Until the briefs and motions are in there is no means to make a comment.

Thanks, and your being here says a lot.

You are welcome.