Fannie Mae-No Politics (FNMA)

[JOoa0ky]

Please leave the man alone. He quit and gave up on the case a year or two ago...

Waved the white flag.

Richard A. Epstein is the Laurence A. Tisch professor of Law at NYU, senior fellow at the Hoover Institution, and senior lecturer at the University of Chicago Law School.

Quote: “In closing, there is a simple test by which to measure the probity of the combined actions of FHFA and Treasury. If FHFA were replaced by a private trustee, and Treasury were replaced by a private supplier of fresh debt or equity capital, both parties would end up in jail if they concocted a scheme that resembled the NWS. Everyone would cut through the various smokescreens to see that the excess dividends were a naked raid on the interests of the other shareholders as happened here. The great tragedy of the majority opinion is it follows the all-too-common practice of giving the government a free pass when its own motives are as corrupt, or more so, than comparable private parties in similar roles and with similar legal duties. From the time that I started to work on this issue, I always said that litigating against the government is like playing craps with loaded dice.” End of Quote

Link: https://www.forbes.com/sites/richardepstein/2017/03/03/d-c-circuit-refuses-to-see-limits-to-government-power-and-inexcusably-upholds-the-net-worth-sweep/?utm_source=yahoo&utm_medium=partner&utm_campaign=yahootix&partner=yahootix&yptr=yahoo&sh=1c4704c74167