Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

That'd be great, BUT IT WILL BE RESISTED AT EVERY TURN OF THE COURT PROCEEDINGS BY OUR RECALCITRANT GUBMINT DEFENDANTS !

From yesterdays Defendants Reply Brief:

UST:

ARGUMENT ....................................................................................................................... 19
I. Plaintiffs Have Not Plausibly Alleged That They Were Harmed
By The Unconstitutional Removal Restriction ..................................................... 19
A. Treasury’s Status as a Counterparty to the Purchase
Agreements Makes Clear That the Statutory Removal
Restriction Did Not Preclude the President from
Directing the Implementation of the Third Amendment
as He Deemed Appropriate ......................................................................... 21
B. The Actions Taken by the Directors President Trump
Selected Provide an Independent Basis for Rejecting
Plaintiffs’ Theory of Harm ........................................................................... 27

C. Plaintiffs’ Theory of Injury and Their Proposed Remedy
Fail for Additional Reasons .......................................................................... 29
D. Former President Trump’s Post-Presidency Letter Does
Not Advance Plaintiffs’ Theory of Harm and Proposed
Remedy ........................................................................................................... 33
E. Plaintiffs Bear the Burden of Establishing That the President
Would Have Eliminated Treasury’s Liquidation Preferences
But For the FHFA Director’s Removal Restrictions ................................ 36
II. The Mandate Rule Forecloses Review Of Plaintiffs’
Appropriations Clause Claims, Which Are Without Merit
In Any Event ............................................................................................................. 38
A. The Appropriations Clause Claims Are Outside the
Mandate of this Court’s Remand Order ..................................................... 39
B. FHFA’s Funding Mechanism Satisfies the Appropriations
Clause .............................................................................................................. 44
CONCLUSION ................................................................................................................... 50

FHFA:

ARGUMENT...........................................................................................................21
I. The District Court Correctly Dismissed Plaintiffs’ Claims Seeking
Elimination of Treasury’s Liquidation Preferences ......................................21
A. The Claims Are Outside the Mandate.................................................22
B. The Claims Are Speculative................................................................25
C. The Burden Does Not Shift.................................................................34
D. An Order Requiring Elimination of the Liquidation Preferences
Would Violate the Separation of Powers............................................36
E. The Claims Are Barred for Other Reasons.........................................38
1. The Claims Neither Challenge Final Agency Action Nor
Meet Requirements For Challenging Agency Inaction ............38
2. The Anti-Injunction Statute Bars These Claims.......................41
II. The District Court Correctly Dismissed Plaintiffs’ Appropriations Clause
Claims............................................................................................................44
A. The Claims Are Outside the Mandate.................................................44
B. The Claims Are Time-Barred..............................................................49
C. FHFA’s Funding Mechanism Does Not Violate the Appropriations
Clause ..................................................................................................50
D. Any Appropriations Clause Issue Would Not Warrant Invalidating
the Third Amendment .........................................................................56
CONCLUSION........................................................................................................57