Fannie Mae-No Politics (FNMA)

[kthomp19]

Is the court saying the FHFA can do illegal things?

No.

I think the inference is that it can perform any *legal* act in it's own interests.

Yes. The Supreme Court ruled that the NWS was not ultra vires, and thus not a violation of the APA. It said that FHFA can use its power to act in its own interest to override other duties HERA imposes on FHFA, like their obligation to conserve and preserve FnF's assets. A true "elephant in a mousehole" ruling that made no sense, but there is no higher court to appeal to.