Fannie Mae-No Politics (FNMA)

[Mnemonic]

I've listened to it twice. I think the judges know their ruling in Seila Law was garbage; they understand the cascade of crap that could come down the litigation pipeline based on directors of various agencies being unremovable. I think they will issue a declaratory judgment, not because our remedy is hard to provide, but simply because it sets a bad precedent for cherry-picking agency actions.

I think they have a much better chance of siding with us on APA claims. Seems like they understand that what happened was effective nationalization, and therefore ultra vires.