"HERA makes clear the conservator's purpose of '. . . rehabilitating the affairs of [Fannie and Freddie]' 12 U.S.C. § 4617(2). Furthermore, the purpose of the conservatorships, according to the FHFA, is 'to preserve and conserve each [company's] assets and property and restore the [companies] to a sound financial condition.' The shareholders in these two companies relied on the promises made by the FHFA and, thus, willingly bore the risk that the economy would either not recover quickly enough or substantially enough to allow Fannie and Freddie to survive. Now that they have come back, the FHFA has lost its way and decided that those promises are inconsequential in principal, on moral grounds, or as a matter of law." --- The Just And Legal Way Forward For Fannie Mae And Freddie Mac
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