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Monday, February 13, 2023 11:53:23 AM
Collins says that the FHFA is more than a regular conservator, via its Incidental Powers under HERA the FHFA can act in ways that are contrary to the GSE Shareholders and act in a way, under its CONSERVATORSHIP INCIDENTAL POWERS, that are "in the best interests of the FHFA and or the public it serves".
Therefore the NWS was allowable when acting as a conservator under HERA's Incidental Powers provision.
But none of the shareholders have litigated or brought up the issue of whether or not the US Constitution permits a federal agency to decide a Major Question of Economic and Political Importance like nationalizing the 2 lynchpins of the US Secondary Mortgage Markets and its impact on all American Families that consume Housing.
The Congress can and does delegate certain powers to the federal agencies to carry out their mandates on behalf of the American people. Some of those powers are Incidental Powers.
One of the lines the courts are drawing to delineate which federal agency decisions are Constitutionality valid and which ones aren't is the MQD (Major Questions Doctrine).
When a federal agency decision is of great Economic and Political Importance, it can be Unconstitutional and invalidated.
Look at the $400B student loan forgiveness as an example.
The POTUS TRIED to get student loan forgiveness passed through the Democratic controlled US Congress but couldn't. He then instructed his Department of Education Director to do something he couldn't get passed through Congress. That's likely Unconstitutional federal agency action that can be invalidated.
Same thing with the NWS, the Congress has been deciding what to do with "the future of the Secondary Mortgage Markets" for over a DECADE and no consensus has emerged.
Letting an Unelected Bureaucrat in DC decide on the future of the Secondary Mortgage Markets in the US is a Major Question of Economic and Political Importance and should be decided by our ELECTED REPRESENTATIVES IN CONGRESS.
Therefore, the NWS should be invalidated as an Unconstitutional Agency Action under the Major Questions Doctrine.
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