Replies to post #765484 on Fannie Mae-No Politics (FNMA)

[HappyAlways]

Thanks for your info. That’s too bad. We may need to wait for an appeal to en banc in 6 months ? Anyway, what is the usual schedule for the judgement after the oral argument ?

[kthomp19]

The judges are Smith (Reagan), Southwick (GW Bush), and Higginson (Obama). Unfortunately both Southwick and Higginson voted against Shareholders in the en banc and are likely to do the same here. Our best bet is another appeal to en banc. Still quite a long shot in my opinion.

I agree. This is not a good panel for shareholders. Smith will likely rule for the plaintiffs and Higginson against based on the first Collins en banc ruling.

Our best hope is that Southwick, who is likely to be the swing vote on this panel, feels that he is bound by the Fifth Circuit's All American ruling. But he has many ways to get around that, the most prominent being that he can just say that FHFA is different enough from CFPB that the All American ruling is not precedential.

We should win at the en banc level but that is at least a year away.