Fannie Mae-No Politics (FNMA)

[Guido2]

Govt position: According to SCOTUS, FHFA as conservator is not government. Both direct and derivative claims should be dismissed.
My opinion: Clearly opposite of what SCOTUS actually said.

Fairholme position: According to SCOTUS, FHFA is the government even as a conservator, if acting in public interest. NWS was in public interest. HERA granted FHFA executive powers not held by other conservators or receivers. Conservatorship was imposed illegally as both corporations had met all their capital requirements. FHFA did not conduct the conservatorship under terms promised. Direct claims should proceed.
My opinion: Have read on this board and other places that SCOTUS ruled that only direct claims could proceed. Maybe I missed it, but Fairholme argues that direct claims should proceed, but I didn't see where they argue that derivative claims cannot proceed.