Fannie Mae-No Politics (FNMA)

[FFFacts]

It's different in the case of FnF because FHFA has a specific carveout in HERA that allows it to act in its own interests, and (as the Supreme Court put it) by extension the public that it serves, ahead of the interests of the companies.

They interpreted HERA but I don't believe this specific issue was challenged the way it should have. What specifically is the carveout that differentiates it from a regular conservatorship or bankruptcy in which 'funds legally available' prohibits this type of activity?

This issue was comingled with other issues but was never properly challenged.