Thomas SAXTON; Ida Saxton; Bradley Paynter, Plaintiffs-Appellants
v.
FEDERAL HOUSING FINANCE AGENCY, in its capacity as Conservator of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; Melvin L. Watt, in his official capacity as Director of the Federal Housing Finance Agency; United States Department of the Treasury, Defendants-Appellees.
United States Court of Appeals, Eighth Circuit.https://leagle.com/images/logo.png
Counsel who presented argument on behalf of the appellees-Federal Housing Finance Agency and Melvin L. Watt was Howard N. Cayne , of Washington, DC. Counsel who presented argument on behalf of appellee U.S. Department of Treasury was Abby Wright, of Washington, DC.. In addition to Mr. Cayne, the following attorney(s) appeared on the appellees-Federal Housing Finance Agency and Melvin L. Watt brief; Asim Varma , of Washington, DC., and David B. Bergman , of Washington, DC. In addition to Ms. Wright, the following attorney(s) appeared on the appellee-United States Department of Treasury brief; Mark B. Stern and Gerard Sinzdak both of Washington, DC.
Before BENTON, KELLY, and STRAS, Circuit Judges.
KELLY, Circuit Judge.
Three shareholders claim that the federal agency Congress created to serve as conservator of Fannie Mae1 and Freddie Mac2 exceeded its powers and acted arbitrarily and capriciously. Four of our sister circuits — the Fifth,3 Sixth,...
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