Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Classic textualism from Kavanaugh (and Breyer and Sotomayor?):

"[W]hy isn’t the answer here for the agency to seek this new authority from Congress for us to maintain the principle that … the agency should stick to the authority in the text and not go beyond that?"

In Collins it seems pretty clear cut that the nws was an ultra vires act of a conservator.

The courts have great flexibility and could potentially hose us in other ways, BUT I LIKE OUR POSITION IN COLLINS as we wait for da gubmint to do the right thing (via the courts now) by reigning in the FHFA'S ultra vires acts!

A win for us would be a win for da gubmint BECAUSE DURING THE NEXT FINANCIAL CRISIS BUSINESS WILL NOT HAVE TO FEAR THAT THE FEDERAL GOVERNMENT WILL NATIONALIZE THEM! Thus the next inevitable downturn will be less severe than would be the case if businesses were reluctant to take a government handout out of fear da gubmint will nationalize them and keep it's boot on their necks as long as they feel like it!

Kind of an intellectually stimulating investment isn't it?

I know, I know, "Uncle Sug, just give me my f'ING money."