Fannie Mae-No Politics (FNMA)

[FOFreddie]

Hi Robert - here is a sentence from the Bhatti Decision you cited:

'When the FHFA exercises these powers, its actions must be ‘necessary to put the regulated entity in a sound and solvent condition’ and must be ‘appropriate to carry on the business of the regulated entity and preserve and conserve [its] assets and property.'

Doesnt this seem like an Admin action converting the GSEs to the Utility Model could easily be challenged based on this principle?

Seems like another reason to settle with JPS and common shareholders if any Admin action is contemplated?