I did completely read both docs you directed me to (again, thanks) ... the two questions are:
1. Whether FHFA exceeded its statutory powers
under 12 U.S.C. § 4617 when it agreed to transfer the
Companies’ net worth to Treasury in perpetuity in exchange for no meaningful consideration; and
2. Whether under the statute’s succession clause,
12 U.S.C. § 4617(b)(2)(A), FHFA succeeded to shareholders’ right to sue FHFA for wiping out their investments.
Assuming you are referring to #2, are you saying the "wiping out of their (shareholders') investments" refers to the claims (beyond the NWS) that plaintiffs will be allowed to pursue with a favorable decision? Or, to say it another way, was Wash Fed the only one who decided to go after the cship itself and roll the dice on the succession clause - and they too can decide to appeal their dismissal to SCOTUS? Many thanks ... and hope I am not trying your patience
PS this is the reference to the warrants ... even the plaintiffs make them sound like the warrants were part of the consideration for the credit line from Treasury ... and NOT something that was illegal or a taking (at least to me)
Pg 12
Second, FHFA agreed that the Companies would
issue warrants entitling Treasury to acquire 79.9% of
their common stock at a nominal price. Id. ¶ 67. As
Treasury noted at the time, the warrants were designed to “provide potential future upside to the taxpayers,” id., but this upside would be shared with the
Companies’ other preferred and common shareholders.
