the bright and simple - lets look at what the court action means - which is that the FHFA as conservator or as FHFA - per HERA - can subordinate bonds to the senior preferred as the right or wrong of that (SEC violation etc.) can not be judged --- if one extends out the logic of no judicial oversight - despite all we know from the Sweeny discovery
(one might even wonder if Lamberth knew THEN what he could know now - if he might not have found a crack in the Judicial stripping)