Fannie Mae-No Politics (FNMA)

[Wise Man]

Fiduciary duties emerge ALWAYS that someone acts on behalf of other, which is what happened in the Succession Provision.
The conservator is using our rights and powers. It's not that they were eliminated, as all the hedge fund managers turned into Shareholder Rights advocates claim to deceive us, but transferred (Telephone Game). So, they still exist but held by the conservator momentarily.

In a Conservatorship, the rights and powers transferred to the conservator MUST be returned at some point when it fulfills its statutory goals: rehabilitation of FnF. Put in a sound condition = Soundness = build capital = what the Restriction on Capital Distributions is for (Dividend suspended, no SPS LP increased for free,...)
Therefore, it's linked to the capital levels (The MANDATORY RELEASE Undercapitalized in the FHEFSSA struck by HERA. When the Core Capital is greater than the Minumum Leverage Capital requirement). Nowadays, FnF have built a CET1 >2.5% of Adjusted Total Assets, lower than Mnuchin's overblown 3% required in the SPSPA that was snubbed (The JPS can be redeemed and still the ERCF with TIER 1 Capital >2.5% of ATA will be met)
Hence the g-fee hikes and Basel framework chosen as endpoint of the Conservatorship by the UST in its 3-option Privatized Housing Finance System revamp in 2011, at the request of the Dodd-Frank Law.

IT'S NOT THE FIDUCIARY DUTY TO ACT IN OUR BEST INTERESTS, like a Trustee (maximize profits, dividend payments, etc.), as everybody knows but navycmdr writing with Stockprofitter, to also shamelessly praise himself: "Thanks navy".
It doesn't mean that it can act against us (Telephone Game). It means that our interests aren't considered in the decision-making. Very different.
It turns out that there are more than one Fiduciary Duty, this is why it's in plural form (duties), something that judge Sweeney ignored: duty of care, loyalty, confidentiality, etc.
This makes sure that the conservator upholds the law, there is no secret plan and it publishes the accounts under GAAP, not with External Positions "off-balance sheet SPS", etc.

The duty of care might well be the "authorized by this section" after "take any action" in the conservator's Incidental Power, that compels it to uphold the law.
It was sent a certified mail to judge Sweeney with this issue.
It means that the breach of fiduciary duty isn't a tort claim but a breach of statutory provision and thus, it falls squarely within the CFC jurisdiction.
Remember that she tossed the Arrowhood case in the bin, with a breach of fiduciary duties, because she determined that it's a tort claim. Then, wrong court, she ruled.
The idea that you transfer your rights and powers to a conservator, and then it doesn't owe you anything, so free lunch to commit all sort of frauds, like today's Financial Statement fraud (gifted SPS and their offset, absent from the balance sheets), carry out a Separate Account with the Common Equity generated held in escrow (External Position), etc., is insane.