Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Nice opening by Amicus Thomas P. Vartanian:

"It speaks volumes that, notwithstanding the
passage of almost nine decades since the creation of
the Federal Deposit Insurance Corporation (“FDIC”)
and the Federal Savings and Loan Insurance
Corporation (“FSLIC”) and more than 4,000
conservatorships and receiverships of federally
insured banks and savings and loan institutions under the authority of the statutes on which HERA was
modeled, Defendants cannot identify a single instance
where a conservator claimed the authority to
extinguish shareholders’ rights, as FHFA has done
here.8 Notwithstanding his decades of experience
with troubled financial institutions during his
government service and in the private sector, Amicus
is not aware of any such precedent and cannot identify
any valid legal basis for Defendants’ assertion that
conservators possess such power."