Fannie Mae-No Politics (FNMA)

[kthomp19]

The way plaintiffs argued it would have unwound Humphrey's Executor and reversed every single Social Security transaction down the road. Completely unpalatable to any reasonable person.

Wrong. In the original Collins case the plaintiffs wanted only the NWS unwound, not every single decision FHFA ever made. See Section IV on page 14. I believe one of the Supreme Court justices asked in oral arguments if the plaintiffs would be okay with a remedy that unwound all of FHFA's decisions ever, and the plaintiffs responded that they would be okay with it even though it's not what they were specifically asking for.

In the second round, where the plaintiffs seek retrospective relief on the Constitutional claim as the Supreme Court said could be available, the plaintiffs only sought to either have Treasury's liquidation preference reduced to zero or the seniors converted to commons (see the Conclusion on page 19).

SCOTUS only addresses Constitutional matters.

Wrong again. We have already been over this. One major matter that the Supreme Court addresses is circuit splits, which include both Constitutional and non-Constitutional rulings.