Fannie Mae Preferred S (FNMAS)

[rosen62]

Hamilton's argument is dated 1791. So for all we know it may simply be outdated.

However, it is a known fact that courts have granted government actions some discretion. Discretion meaning "flexibility in the interpretation" of the actions taken by government. This is in line with Hamilton's view of the inherent implied power of the government.

But as you say and has been ruled already, when it comes to Fannie and Freddie, the Treasury, the PSPA agreements and the FHFA, the government acted as a private entity realting to other private entities. Therefore, implied powers -whether they do exist or existed only in 1791- are irrevelant. The "discretion" only comes into the picture if the government acts as "government". Treasury acted as a shareholder.

Then, what really matters to us and the current lawsuits is corporate law, private property rights and the rights of shareholders. That was the point I was trying to make.