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Sunday, February 12, 2023 12:50:01 PM
When the FHFA acts under its statutory powers in HERA it will usually wear 1 of 2 hats, conservator or Regulator.
Which hat do YOU think the FHFA was wearing when it implemented the Net Worth Sweep on August 17, 2012?
DeMarco testified during Lamberth's trial (he had eye contact with me when he said it!) that one of the reasons he implemented the NWS, (in addition to "preserving and conserving the GSES" as he stated in his initial testimony), was so that the US Congress "could fix the broken system".
A UST official, Jim Parrot stated in an email that the purpose of the NWS was to "salt the Earth with the shareholders carcasses and make sure that they never go pretend private again". Jim Parrot's email was excluded from the Lamberth trial per Defendant's request in pretrial motions I believe.
What happens when a federal agency head like DeMarco agrees to take ALL the future profits of their conservatees into perpetuity? He has made a decision to Nationalize the GSES, a regulatory action that violates the Major Questions Doctrine, since only the US Congress could decide to Nationalize the GSES, not the head of a federal agency.
That matter seems ripe for presentment to our federal Judiciary to decide, don't you agree?
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