Holdenwalker now says that the "Big Bang", of settlement, SPSA amendment, consent order, etc come after Nov election
Thing is, you then have two option: Trump win or Trump loses, now look at what is likely under those
If Trump loses, then one wonders whether Mnuchin and Calabria have the motivation to push "Big Bang" through. Dems will scream like stuck pigs, Mnuchin may be concerned.
In the other agency, FNMA's own fifth column can be found with Mark Calabria - does Calabria even want an RnR? In Nov, after Trump loss, Calabria knows he is going to be fired in January and is going back to Cato Institute or TBTF job -- is his welcome increased or lessened by facilitating RnR? Scary thought
If Trump wins, things look better. Mnuchin implements publicized plan, Calabria can see three more years a Director if he behaves himself
Looks like election result is pretty important, sadly.
So, then pushes u back to how might Seilia Law judgement change things? IF SCOTUS strikes down Consumer Bureau with retrospective remedy, that looks like it rolls over to FHFA -- such a retrospective remedy would force NWS reversal and leave Treasury owing FnF $100 billion plus.
Looks like Treasury needs to act after such a judgement -- how fast do they need to do that? At the least they do need to do something since they no way want $100 billion cash going anywhere, so SPS and warrants come into play and hence RnR of some kind is mandated. But how fast? Summer? or after Fall election? In this case, Mnuchin can now plead court mandated action... But you still need to worry about the Calabria Fifth Column sabotaging everything...
Anybody got thoughts on how fast Treasury might need to act after Seilia loss in June/July?
