from Tim Howard:
"Well, this letter will at least give the Fifth Circuit justices something to think about. The key statement here is, “From the start, I would have fired former Democrat Congressman and political hack Mel Watt from his position as Director and would have ordered FHFA to release these companies from conservatorship.” There is little doubt about the first action. As to the second, President Trump had 20 months to “order” Mark Calabria to release Fannie and Freddie from conservatorship and never did. That, to me, does weaken the hypothetical that he would have done that had he be able to fire Watt. But it will be up to the justices to make this determination."
with Comment:
"Tim, I think the last sentence in Trump’s letter address your point about ordering “FHFA to release these companies from conservatorship.” Trump Claims his administration was “denied the time it needed to fix this problem because of the unconstitutional restriction on firing Mel Watt.” So while 20 months wasn’t enough time to begin and complete the work to release the companies from conservatorship, Trump is stating a full 4 years from day one would have been sufficient.
Craig Phillips discussed this in an interview where he said had they not had to wait to fire Watt, there would have been ample time to complete the privatization as well. This certainly should tilt the favor in plaintiffs favor.
Will be interesting to see how the 5th circuit judges try to untangle this mess of a ruling handed down from SCOTUS with Trumps curveball thrown in."
