"Remember, in the late 1700s, male life expectancy was only about 38 years so, in theory, a lifelong appointment didn't last too awfully long. Fast forward to modern times, Ruth Vader Ginsburg had been dead for 10 years when they finally declared her dead. She had a stick up her ass to make her sit upright and Sotomayer was throwing her voice."
Jog49, These are very true Statements.
In those days life term tenure meant, it was normal retirement age or in practice far less for many. Now these people brazenly stick to their jobs even when they are terminally sick. Obviously these people are betraying the trust, honor and respect these positions badly need.
The ruling in Collin's case is too brazen by any standards. They should have questioned the appropriateness of copying FDIC laws (for Banking Business) to create HERA (for FnF - monoline insurance Business). FDIC and FHFA have totally different business functions (Banking vs Monoline Mortgage guaranty/ insurance). It should make any one question the competency of these people when they do not even question the appropriateness of laws and then they rule that FHFA Conservator (private actor) can act its own interest.
When FDIC acts in its own interest, it is acting in its own interest because it is in insurance business. It is natural to expect FDIC to act in its own interest because it insures the bank deposits and it has to minimize the losses. In case of FHFA, it is sucking the resources of conservatees even for its day to day operations and has no money risks with FnF.
Hope attorneys for Plaintiff properly explain how it is wrong for FHFA to act its own interest.
