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rekcusdo

12/13/16 1:04 PM

#370789 RE: tcj #370778

"A settlement can be made with the major litigants. It does not have to incorporate every suit."

This is false. The government would never settle with just the major litigants. It's already been stated and supported that the ONLY reason for the government to settle is to avoid the embarrassment of documents being released. Why would the government settle with the major litigant if the documents might still be released. Makes no logical sense.

"The idea that HERA is repealed and money is returned is a pipe dream."

Agreed. That was kind of my point.

"Watt can be replaced at Trump's discretion should he prove to be adversarial to the admin. wishes."

This is just a lie (unless you don't know it to be false, in which case you are just wrong). Watt can NOT be replaced at Trumps discretion. The Constitution protects Watt's job. Mel Watt was not hired by the President and his position is not within the Executive Branch. Congress elected Mel Watt to his position and only Congress can remove him...and even that must be for cause (a disagreement in procedure is not cause. He would have to commit a crime or fraud of some sort). Short of Congress removing him for cause, Watt is permitted to finish his term without interruption from the president. I'm sorry if you were misinformed on this topic.

"If the common pps were to be somewhere in the $20+ range, how many people do you think will still press on with lawsuits and legal expenses?"

MANY. Even if the warrants are cancelled, the excess funds are returned to the company, and the NWS is removed, you will still see lawsuits press on for back dividends, punitive damages for fraud and contractual damages for interest due. The lawsuits are endless in any scenario.


"The major shareholders and litigants will negotiate a settlement and the majority of smaller cases will fall by the way side if the pps is over $20 IMHO."

This is, as you said in your post, a pipe dream.
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obiterdictum

12/13/16 1:35 PM

#370808 RE: tcj #370778

Watt can be replaced at Trump's discretion should he prove to be adversarial to the admin. wishes.

The President of the US cannot remove the Director of the FHFA at his discretion. The President can remove the FHFA Director before the end of his term for cause. Removal is not done by the Congress.

HERA 2008, Section 1312 (b)(2):

‘‘(b) APPOINTMENT; TERM.—
‘‘(1) APPOINTMENT.—The Director shall be appointed by
the President, by and with the advice and consent of the Senate,
from among individuals who are citizens of the United States,
have a demonstrated understanding of financial management
or oversight, and have a demonstrated understanding of capital
markets, including the mortgage securities markets and
housing finance.

‘‘(2) TERM.—The Director shall be appointed for a term
of 5 years, unless removed before the end of such term for
cause by the President.

https://www.gpo.gov/fdsys/pkg/PLAW-110publ289/pdf/PLAW-110publ289.pdf

Generally speaking, "removed.........for cause by the President" means that an independent agency or quasi-agency's Director/Officer/Commissioner can be removed from office by the President for "inefficiency, neglect of duty, or malfeasance in office."

See this Supreme Court case, which has been the standard for such removals by the President:

Humphrey's Executor v. United States
https://www.oyez.org/cases/1900-1940/295us602 and
http://www.casebriefsummary.com/humphreys-executor-v-united-states/
https://www.law.cornell.edu/supremecourt/text/295/602

FTC Act

https://www.ftc.gov/sites/default/files/documents/statutes/federal-trade-commission-act/ftc_act_incorporatingus_safe_web_act.pdf

If "inefficiency, neglect of duty, or malfeasance in office" can be substantially and demonstrably proved, then removal for cause by the President of the US is possible. On the other hand, if "inefficiency, neglect of duty, or malfeasance in office" cannot be proved and convincingly demonstrated, there cannot not be a removal for cause by the President of the US.