Fannie Mae-No Politics (FNMA)

[Mnemonic]

I know everyone here wants CFPB's structure to be ruled unconstitutional, but you should actually be hoping for the opposite. If CFPB is ruled unconstitutional, they'll remedy it by making the director removable at will, and set a precedent for removing FHFA directors at will, including Calabria. If the Dem's somehow manage to win the next presidential election, they can stick whoever they want into power at FHFA and stop/unwind any change that is currently in motion. We'll be in deep shit.

Conversely, if CFPB is found to be constitutionally structured, then Calabria gets 5 years to do whatever he wants to get these companies out of conservatorship, regardless of the result of this year's election. For all the hate he gets on here, Calabria is still our best shot at this. Cross your fingers and hope the courts don't screw us again.

Another thought: it's possible that the judges' remedy will be to make the CFPB a multimember commission like the FTC, as stated in the article. In this situation, Calabria still gets to do his thing, but cedes some power to the newcomers. Hopefully they're all of one mind in R&R.