If the precedent were set that the entire funding structure were to be strictly governed by "Appropriations made by Law" as defendants painted it, would that not ultimately nullify the funding mechanism in FNMA/FMCC's charters? I think Congress would then have to explicitly appropriate money each time the companies go to borrow from Treasury. Like explicitly in a bill. Last line Thomas's summary opinion sums it up:
"They offer no defensible argument that the Appropriations Clause requires more than a law that authorizes the disbursement of specified funds for identified purposes."
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