you may want to summarize this in just a paragraph without details and lawyers can look up the rest. just highlight the important stuff. this is all over and confusing. simpler is better. you may be onto something as i have said before. but lawyers need to look at it and if it holds water, they need not wait in giving a formal notice of violation.
Government agencies don't make laws. That authority rests with Congress. Government agencies are allowed to interpret laws through regulations. FHEFSSA is law and not suspendable by FHFA. In a national emergency, I suppose (not sure) the President could issue an Executive Order to SUSPEND a law. I didn't see George Bush's signature on the SPSPA. I say $301 billion dividends to Treasury is illegal.
Guido2, this is worth repeating what you said my friend.
Quote: "Government agencies don't make laws. That authority rests with Congress. Government agencies are allowed to interpret laws through regulations. FHEFSSA is law and not suspendable by FHFA. In a national emergency, I suppose (not sure) the President could issue an Executive Order to SUSPEND a law. I didn't see George Bush's signature on the SPSPA. I say $301 billion dividends to Treasury is illegal." End of Quote.
The FHFA / Treasury cannot just up and decide to change the Law.
FHFA suspended those guidelines FHFA suspended those guidelines FHFA suspended those guidelines
Tim Howard Quote: “You are correct that Fannie and Freddie’s regulatory guidelines [FHEFSSA] would have prohibited them from paying cash dividends while severely undercapitalized, but FHFA suspended those guidelines because it wanted the companies to have to draw more senior preferred stock from Treasury to pay the annual dividends in cash, to balloon their outstanding senior preferred and increase their required annual dividends by still more.” End of Quote
Keep in mind the FHFA is regulator the FHFA cannot change the law.
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