Replies to post #13305 on Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

I agree!

"The rule of law requires that a regulatory agency act in accordance with its legal authority. This is true in both common law and civil law countries. Following the rule of law instead of the rule of man means that official decisions will not be arbitrary, that due process and administrative justice will prevail, and that constitutional, judicial, and/or legislative checks on the power of the executive branch will provide constraints against arbitrary action by the government." Ftn "This definition is consistent with two suggested functions of the rule of law, i.e., that the rule of law serves to “curb arbitrary and inequitable use of state power” and to “protect citizen’s property and lives from infringements or assaults by fellow citizens.” A. Bedner, “An Elementary Approach to the Rule of Law,” Hague Journal on the Rule of Law, 101 (March 2010): 50-51."

"A formal definition of the rule of law will “look to the presence or absence of specific, observable criteria of the law or the legal system.” When a regulator implements public policy as set forth in statute, there is an assurance that the regulator’s power will not be implemented in an arbitrary and unfair manner and that the rights of the public utility and its customers will not be violated." Ftn "M. Stephenson, “Rule of Law as a Goal of Development Policy,” The World Bank, Law & Justice Institutions, at 1."

Ftn “[T]he aim of the rule of law has to be to prevent the exercise of arbitrary power by government and to safeguard individual rights. Summarised the rule of law principle can be understood as a legal-political regime under which the law restrains the government by promoting certain liberties and creating order and predictability regarding how a country functions.” F. Ehm, “The Rule of Law: Concept, Guiding Principle and Framework, UNIDEM Campus Trieste Seminar on Administrative Discretion and the Rule of Law, Trieste, Italy, April 12-15, 2010, at 4.