Fannie Mae-No Politics (FNMA)

[bcde]

"The En Banc opinion did use the word "plausibly". See the top of page 4 in the opinion."

The word was used to highlight the dispute in question. But court is clear about invalidating the third amendment.

"Now to apply this understanding of conservator powers to the Third Amendment. We hold the Shareholders stated a plausible claim that the Third Amendment exceeded statutory authority. Transferring substantially all capital to Treasury, without limitation, exceeds FHFA’s powers to put the GSEs in a “sound and solvent condition,” “carry on the[ir] business,” and“preserve and conserve [their] assets and property.” We ground this holding in statutory interpretation, not business judgment"