Hmm. I don't think the Treasury is going to win that argument. I think the highly paid, most esteemed D.C. lawyers will have to straighten out that part.
If treasury,FHFA, clam up and says we don't have authority to release from conservatorship, but one of the courts orders the 3rd ammendment sweep thrown out! so GSEs can keep all profits wouldn't that alone cause PPS to rise dramatically, just due to normal market persuasions. even though they would be under conservatorship.
From where I sit it is not if there is 1 Billion a quarter of profit moved to Treas or 20 Billion
The issue is that one side of a deal (Executive) changed the terms massively and the F and F side of the deal did not argue because they were one and the same side (As I understand that is part of the argument right now - to stay in front of Sweeny)
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