Fannie Mae-No Politics (FNMA)

[FOFreddie]

Thanks Robert. Those were some pessimistic posts from ROLG and TH. TH seems to hold out some hope for an Admin Action though.

Although it does seem to be a contrarian view I for one go back to the basic principle that Collins was a results oriented bad decision that has boxed SCOTUS in regarding separation of powers violations. We are fortunate to have plaintiff shareholders who believe the case is still worth fighting for and will take this case to the end of the world as the US Constitution knows it. Thank God ROLG is not one of the plaintiffs or plaintiff lawyers.

What does not make sense about TH's opinion about the Roberts court is that Collins was decided when DJT was President and the odds were that DJT would be reelected and that Calabria would have gotten the GSEs out of Conservatorship by now with or without Collins. Collins just prevented the plaintiffs leverage in an outcome that was expected to result in an exit from Conservatorship. Even if the GOP would have one the Georgia US Senate Seats - we could have seen an exit pushed via a compromise between Toomey and the House.

It is my personal opinion that the Separation of Powers chickens are coming back to SCOTUS to roost and SCOTUS will have to continue to try to find a narrower and narrower solution if their goal is to screw the GSEs as TH suggest because it does seem that they do believe in separation of powers principles.

Regarding the MQD principle - it would be best used to challenge an Admin Action promoting the Utility Model - it is hard to see how HERA authorized and end around to the Charters.

Probably all wrong but I do think that the 5th Circuit will give shareholders justice if they are given the chance. TH seems to think that SCOTUS will go out of its way to deny justice to the GSEs even it is means they end up compromising separation of powers principles.

In any event probably only a couple of more years of litigation in time for a new POTUS like DeSantis or another JB Term with Jared Bernstein and Brookings pushing the Utility Model.

Hope ROLG gives his stock to his grandkids for Karma.