Fannie Mae (FNMA)

[Robert from yahoo bd]

Todays WSJ, Philip Hamburger (Columbia Law Professor and CEO of NCLA) on the danger of the Supreme Court allowing a concentration of power to be exercised by Unelected Bureaucrats (like DeMarco) in federal agencies:

"What makes this especially dangerous is that administrative agencies, not only Congress, now exercise this expansive legislative power. These agencies are in the hands of unelected bureaucrats, who can be unleashed -- or restrained -- by the president."

"In the 20th century, the Supreme Court simultaneously expanded Congress's legislative powers and allowed them to be exercised by administrative agencies. The high court thereby loosed administrative agencies to exercise immense legislative power. Little could be more destabilizing."

What are the limits of the FHFA's power if it can exercise power limited by only "what's in the FHFA'S best interests or the public it serves"?