Thread by @CarlosVignote

ACTING @FHFA DTR,S.THOMPSON,SPENT 23 YRS AT THE FDIC BOD PRIOR JOINING FHFA IN 2013
HERA mirrors the FDI Act.Thus,it has the same:
1-Restriction on Capital Distribution:threadreaderapp.com/thread/1378953…
2-Conservatorship section:conservator's Power,Inc Power,etc.#Fanniegate @TheJusticeDept

FDI Act: 12USC1821(d); 12USC1831o(d)
1-In the link posted,it's explained that HERA amended the FHEFSSA to remove the Restr on Capital Distribution from each Capital classification(Conservatorship included)and put a single provision replica of the FDI Act,at the end of the section

Capital Classification,w/ the goal to conceal it,as in the FDI Act is a stand alone provision APPLICABLE TO ALL FIN INSTITUTIONS (IN GNRL)
2-@Scotus based its opinion on the Inc Power:any action...but skipped
"authorized by this Chapter":FDI Act
"authorized by this Act":FDIC rule

(Chapter and Act mean the same)
"authorized by this section": HERA,which is wrong, because if HERA mirrors the FDI Act,it should be "authorized by this Act" too. It also aimed at concealing the Restr on Capital Distr that bars a dividend,located outside "this section". Anyway, a

dividend is also barred "in this section". Specifically, in the conservator's power: "put FnF in a sound and solvent condition". Restore to a sound condition means recapitalization.
Pathetic to see Justice Alito using Tipp-Ex to delete this part of the provision, like J. Sweeney.

Being outside the section AUTHORITY OVER CRITICALLY UNDERCAPITALIZED REGULATED ENTITIES,doesn't mean that the provision Restriction on Capital Distribution isn't binding.
Primarly,because it starts with "in general".2nd,because the FHFA highlighted it & its Power,in its 2011 rule

@threadreaderapp unroll