When has a conservator ever attempted to extract hundreds of billions of dollars in pure profit from the companies that are under conservatorship? A conservatorship has in fact never been operated in the manner to dilute and remove as much value from the companies as possible. If that were the case, every conservator would look to remove as much value as possible even at the detriment of the companies that they are supposed to rehabilitate.
HERA directly follows FDIA conservatorships and receivership provisions for the purpose of incorporating the existing body of FDIC legal precedent. In the history of FDIC conservatorships, the conservator has never looked to reap substantial gains by stripping as much value from the companies as possible. Seems like that ideology would run counter to their stated mission of preserving and conserving the company’s assets as well as go against the fiduciary obligation they hold to other shareholders.
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