Freddie Mac-No Politics (FMCC)

[FOFreddie]

Thanks Eternal Patience. Thapar really has to make a decision about how he is going to interpret the Constitution since the US Treasury attorney explicitly challenged the Appointment Clause. When Thapar asked him if a POTUS could use serial Acting Directors the UST Treasury attorney was unequivocal "YES". While I think we should have low expectations for a positive outcome it will be interesting how Thapar will handle this. The other two judges seemed sympathetic to shareholders and while I would not expect them to be bold by themselves I could see them supporting Judge Thapar if he decides to be bold.

The other interesting part of the oral discussion was the point made by Patterson that voiding the SPS would not be so harmful to the UST because they still would own 80 pct via the warrants.

Low expectations but hopeful as you seem to suggest. Interesting definitely.