A long overdue decision: a continued call for the DC Circuit to invalidate the Net Worth Sweep From Bruce Berkowitz of Fairholme Capital
NYU School of Law Professor and frequent Forbes contributor Richard Epstein urges the DC Circuit Court to “set matters right” and invalidate the Net Worth Sweep in an opinion piece published in Forbes yesterday.
The decision should not be hindered by the government’s “motley collection of procedural objections,” which serve as obstacles that ultimately demonstrate “the weakness of [the government’s] substantive position.”
In the aftermath of oral arguments before the appellate court on April 15, 2016, in Perry Capital v. Lew, Mr. Epstein cites an “unusual flurry of briefing activity” and misinformation that have obfuscated the true focus of the case, and reminds readers that the “strongest” argument for ending the conservatorship is that it gives FHFA free reign to rule over the GSEs without a challenge to its authority. “It is always risky business to have a faithless trustee in charge, and that is what seems to be the case here,” he concludes.
Please click the following link to read more: http://www.forbes.com/sites/
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