The legal setback was that only FHFA could bring lawsuits against itself while the corporations are in conservatorship. SCOTUS has removed this hurdle.
The last regulatory setback was when Crocker and Warner snuck in a clause restricting action on the twins for a couple of years. Crocker is gone. And Warner is silent.
Administrative action is the preferred route. As Howard mentioned, the simple solution is to reverse what Bush and Paulson did in 2008.
I'll repeat: I'll sue if the fraudulent warrants are exercised or sold to third parties.
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