Fannie Mae-No Politics (FNMA)

[rosen62]

Always,

in Perry Vs Lew this argument was demolished by Ted Olson already. We have to wait to see what the court thinks.

Ted Olson offers a counter-argument:

Rather than accept binding circuit precedent, Treasury and FHFA grab hold of Gross’s “clearly outside” language to argue, in effect, that courts are powerless to prevent FHFA from engaging in unlawful conduct, so long as FHFA’s conduct is not too obviously unlawful. See Treasury Discovery Opp. 13-14; see also FHFA Discovery Opp. 19-20. That is not the law. Indeed, the Supreme Court recently rejected any distinction between unlawful agency conduct and conduct beyond the scope of the agency’s powers: The “power to act and how [agencies] are to act is authoritatively prescribed by Congress, so that when they act improperly, no less than when they act beyond their jurisdiction, what they do is ultra vires.”

http://www.pacermonitor.com/permalink/172227058242816
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