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Replies to post #564402 on Fannie Mae-No Politics (FNMA)
09/25/19 5:22 PM
09/25/19 5:32 PM
As readers know, the 9 to 7 majority opinion led by Judge Willett was a prospective Net Worth Sweep cancellation. But his 7 to 9 minority opinion was a pure and simple vacatur of the NWS, meaning a retrospective cancellation. Read the reimbursement to Fannie and Freddie of the amount they paid Treasury in excess of the amount they borrowed. In Willett’s writing, the numbers were $250 billion repaid at the time of the suit, against $187 billion borrowed. Actually, as of Q2, 2019, the amount repaid was a total of $306 billion, for an excess of $120 billion.
Treasury is opposed to this, and argues that taxpayers, on whose accounts it acts, are entitled to compensation for lending the money in the first place. Makes sense, but my first reaction was to counter with the Trouble Asset Relief Program, aka TARP.
It is made null and void.
null and voidadjective abrogated, annulled, canceled, defeated, defunct, disannulled, effectless, extinct, extinguished, forceless, ineffective, ineffectual, inefficacious, inoperative, invalid, negated, no longer law, not valid, nugatory, obliterated, of no binding force, of no effect, of no legal weight, of no validity, omitted, overruled, quashed, repealed, rescinded, reversed, revoked, set aside, strengthless, superseded, suspended, unauthorized, useless, vacated, valueless, void, withdrawn, without authority, without legal effect, without legal force, without potency, without value, worthless
AI
