Replies to post #268928 on Fannie Mae-No Politics (FNMA)

[10bambam]

Thank you Obit.

[chessmaster315]

Ok. So the government is arguing that the Treasury has/had nothing to do with putting fannie in cship, that is, Fairholme sued the wrong entity so the suit should be dismissed.

Then, the treasury comes out and says to the effect: "We (treasury) wont release the cship without legislative action."

Does any one else see the conflict here? On one hand the treasury says they are not in charge, and, on the other hand, they give the order that it cant be released, as if they are in charge.

The treasury can not have it both ways: They cant tell the judge "they didnt do it" and then try to undo what they did not do in the first place.

[natomas]

From your link HERA 2008
122 STAT. 2736 PUBLIC LAW 110–289—JULY 30, 2008
‘‘(7) AGENCY NOT SUBJECT TO ANY OTHER FEDERAL
AGENCY.—When acting as conservator or receiver, the Agency
shall not be subject to the direction or supervision of any
other agency of the United States or any State in the exercise
of the rights, powers, and privileges of the Agency."
Does this apply to Treasury?

[jeddiemack]

Hera clearly states as opined by the Judge that FHFA as Conservator is not subject to review or any Federal Agency. Thus, how can FHFA be beholding to Treasury - an Agency of the US.

Would seem the two provisions are in conflict.

Perhaps FHFA is beholding afterall which would nullify the other provision.