When the government enters a company under Section 13(3) of the Federal Reserve Act. They do it out of necessity for the overall economy, not because they want to make a profit, and that is where coin flips for the government, they wanted to solve a “problem” in their eyes, but when the problem was solved back in 2012, they got greedy and started to just do the opposite of what they should have been doing, and since so many people are involved ones a path is chosen the point of no return comes faster en a single-minded focus is born so indeed “that dog(the government) won’t hurt” will apply here now, under no circumstance is the government allowed to make money and leave the shareholder empty handed, as you also mention then there is a 5th amendment taking, so now all appearances are against the government as they proof to be a very bad conservator
FNMA SPSPA
As for 12 U.S.C. 1719 Sec 304 (g). https://www.law.cornell.edu/uscode/text/12/1719 the government (treasury) can have TEMPORARY AUTHORITY, temporary only not forever, and since FnF are profitable, and siphoning of the profits, is doing the opposite, in 304 (g)(1)(a) “Nothing in this subsection requires the corporation to issue obligations or securities to the Secretary without mutual agreement between the Secretary and the corporation.” So FnF need to agree to the conservatorship, but guess what the government does not want to release the transcripts of the meeting, that is why they are not eager to release all 12.000 pages in discovery, in 304 (g)(1)(c)(iii) “Emergency determination required In connection with any use of this authority, the Secretary must determine that such actions are necessary to— “The corporation’s plan for the orderly resumption of private market funding or capital market access”. As for now there is no plan for over 10+ years, either FnF are not allowed to make a plan or FHFA is in serious abandonment on their own rules, so 304 (g) is not working in their favor.
As for 77b of title 15 https://www.law.cornell.edu/uscode/text/15/77b this indeed also includes the warrant but by no means makes it executable either, so the government was allowed (until proven otherwise by releasing the transcript of the meeting of board of directors agreeing to conservatorship) to buy the SPSPA/warrant and needed to compensate shareholders for the loss in order to call it no illegal extraction, but as we know, that is not what has happened.
As mentioned in http://online.wsj.com/public/resources/documents/StarrvUS06152015.pdf U.S. Court of Claims Judge Thomas Wheeler found that Greenberg was indeed correct in claiming the government overstepped its legal boundaries in its "unduly harsh treatment of AIG So It can’t be both either it is a illegal exaction (based upon unauthorized action), or a taking (based upon authorized action)., the actions taken by the government are not proper, so in AIG it is illegal exaction, and in FnF it is a taking, but both are based on the same errors the government made, and we already filed suit on the takings claims, so that should prevail too
the "valuable consideration" still needs to be proven when the document are released in sweeney’s court, until then, imo there is no valuable consideration, as they government lacks transparency and can proof nothing, and has no legal basis to continue the path they currently find themselves on since 2012
for the 79.9% for 100B exchange, I would say it need to be unwound, as it needs to be proven by the transcript of the boards of directors meeting, agreeing to conservatorship that they voluntary gave away the company for no consideration. My guess is the transcript is never found or released and thereby the government must aceept they lost all lawsuits against them, as they cannot prove or make the judges reasonably believe that FNMA entered into this contract voluntary with no transcript of the meeting as proof, so far nobody really talks about this, but as soon as the government takes any step forward this will probably pop-up, as it is the basis of all their interfering, so 1 document can make the difference
As for the “cooked the books” we will find out as soon as the government releases the 12.000 documents, my hunch, they did it.
Ones released we have answers to: 1) Did the government cook the books 2) Did FNMA board of directors voluntary give away the company for free 3) How bad the government situation is, and thus 4) How much compensation needs to be paid to FNF, commons and prefs
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