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Wednesday, December 09, 2020 11:42:11 PM
The case of a Director was unanimous among the Justices, as he has a clear protection from removal with the "for cause" clause.
The debate was about the removal of an Acting Director. It's the key because he's the one that approved the third amendment (NWS).
But the case is clear: he's protected from removal because, even if he's removed at will, POTUS can only choose an Acting Dtr among the Deputy Directors that the Acting Director appointed. But the thing is that an FHFA Acting Director can't be removed at will in the first place, because it would break the "independent agency" status.
Subsequently, all their actions will be declared null and void:
Director: 2008 SPSPA
Acting Director: 1st, 2nd & 3rd amendments
Director: 4th & 5th amendments.
The Treasury will reimburse all the payments made by FnF, netted out with the principal amount of the obligations SPS.
The outcome is $110 billion Capital Reserve in the FnF's balance-sheets.
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