Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

The JB administration may have thrown the beleaguered Nationalized Shareholders a bone. By thrusting the Constitutionality of federal agency overreach into the National Spotlight and Debate with the $400B Student loan forgiveness, the JB administration is trying to do what he couldn't get passed through the US Congress done via federal agency overreach.

Just like the Obama administration Nationalized the GSES with the NWS via the FHFA and UST, something that would never have made it through the US Congress.

Here's 128 House of Representatives Amicus Brief filed with the SCOTUS today:

TABLE OF CONTENTS
TABLE OF AUTHORITIES ....................................... ii
INTEREST OF THE AMICI CURIAE ...................... 1
SUMMARY OF THE ARGUMENT ........................... 5
ARGUMENT .............................................................. 7
I. The Debt Forgiveness Implicates
Constitutional Separation of Powers .................. 7
II. The Court’s Precedents Call for Requiring
Clear Statutory Authority for the Debt
Forgiveness .......................................................... 9
III. The HEROES Act Does Not Clearly
Authorize the Debt Forgiveness ....................... 13
A. There Is No Clear Authority for
Forgiveness ................................................... 13
B. At the Very Least, There Is No Clear
Authority for Blanket Forgiveness .............. 17
IV. The Executive Branch Has Effectively
Abandoned the Proffered Basis for the Debt
Forgiveness ........................................................ 20
CONCLUSION ......................................................... 22


https://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=408812

Chairwoman Foxx said:

"Moreover, this administration is bypassing Congress, which is elected by the American people to protect their interests. Congress is the only body with the authority to enact sweeping and fundamental changes of this nature, and it is ludicrous for President Biden to assume he can simply bypass the will of the American people.”

Representative Duncan said: “The Biden Administration does not have the authority to unilaterally ‘forgive’ student loan debt across the board, and attempting to do so is nothing more than a political maneuver. This exploits the original intention of the HEROES Act of 2003, oversteps the authority of Congress, undermines the will of the American people, and would send the country further into a debt spiral. The Court should invalidate the Secretary of Education’s sweeping student loan forgiveness program since it trespasses on Congressional authority and violates the separation of powers.”

Jennifer Mascott, Assistant Professor and Co-Executive Director of The C. Boyden Gray Center for the Study of the Administrative State at the Antonin Scalia Law School said: "The Gray Center's Separation of Powers Clinic was pleased with the opportunity for Scalia Law School students and Clinic Director Trent McCotter to represent Members of Congress in this case addressing core questions of statutory interpretation and the exercise of governmental power."

The Biden administration is exploiting language in the 2003 HEROES Act to waive the student loans of millions of Americans who do not qualify.