Seems like you are making it more complicated than it really is. Let's say the SCOTUS rules that the anti-injunction and Succession clauses applies always and the FHFA may do WHATEVER is in the FHFAs best interests.
Does that mean that the gses are nationalized forever? I don't think so. Why were they set up over 50 years ago as private corporations? Because private capital in a 1st loss position is a good idea for the government and a win win scenario.
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