$FNMA #FANNIEGATE

SCOTUS ruling yesterday plus the ruling yesterday that CFPB is unconstitutional might mean NWS is invalid. Christian Herzeca, a respected attorney, had this to say...

http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/fnma-and-fmcc-preferreds-in-search-of-the-elusive-10-bagger/msg336521/#msg336521

scotus ruled yesterday afternoon that SEC administrative law judges have been appointed in violation of the Appointments Clause.  those cases that were adjudicated by unconstitutionally appointed SEC judges must be retried. if you read the transcript of judge schlitz in the bhatti oral argument, you heard him struggling with the remedy that he would have to grant were he to find likewise re fhfa acting director Demarco (which would be invalidating NWS).  this case should help him understand that a constitutional violation requires invalidation of the decision made by the unconstitutionally appointed officer.