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Saturday, November 16, 2013 11:41:35 AM
Regarding receivership, I know it seems unlikely, due to the terms of HERA. But if Berk plan goes through without taking commons with it, commons are left with GSES, under c-ship, right? They'll wait for DC to get around to resolving their fate. If i have that right (I haven't had time to fully scrutinize the proposal) we all know DC never lets laws (in this case HERA), promises (like "if you like your plan you can keep your plan"), or contracts (like GM bond holders) get in the way of what it wants. So DC could easily find some accounting or policy trick to claim that, as they are running-off the GSEs, they "discovered" that in fact they "need" to place the GSEs into receivership. Screw-job on commons would be complete. Is there anything suggesting that that's extremely unlikely or impossible?
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