Fannie Mae-No Politics (FNMA)

[Wise Man]

Robert and Bryndon Fisher are two Don Quijotes fighting windmills that they imagine to be "Nationalization".

Bryndon, page 2-3: "Although HERA conferred broad authority on FHFA as conservator to conduct the business of the Enterprises, including permitting FHFA to consider both the interests of the Enterprises and the interests of the public, that authority is necessarily limited by the Constitution."

It's time to snub all those that say HERA, instead of the FHEFSSA and the Charter Act, as amended by HERA, as seen in the Restriction on Capital Distributions for their recapitalization.





It's false that FHFA has broad authority. Even the "may" in its power as conservator can't be read as an authorization to be excused from complying once the capital is built for the soundness of FnF, by syphoning it off to UST. Once it's built, it's retained (Retained Earnings = Core Capital), or held in escrow using the Incidental Power for some Separate Account plan "beneficial to the Agency and the public" (the benefits from a lengthy conservatorship and the extortion of the resources out of FnF), Justice Alito claimed in his interpretation when the law states that it can pursue its interests. But those interests are limited by the same sentence that you have just read: "Take any action authorized by this section", and Justice Alito spotted when he put as prerequisite "the rehabilitation of FnF" (the FHFA-C's power), also highlighted by judge Willett with "actions within the enumerated powers", as those powers are called "Rehab power": put FnF in a sound and solvent condition.
So, quit talking solemnly about actions limited by the Constitution, call Bryndon Fisher and all other attorneys "patriots", pitching the idea of Nationalization through actions that are barred in the statutes pertaining to FnF.
On the other hand, the Separate Account plan legalizes all the actions and avoids do-overs.
FHFA has LIMITED POWERS.