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High court takes on Fannie, Freddie presidential power case

Freddie Mac Washington president Government Coronavirus
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WASHINGTON – The Supreme Court is hearing a case Wednesday that could make it easier for the president to fire the head of the agency that oversees government-controlled mortgage giants Fannie Mae and Freddie Mac.

The case could also mean undoing an agreement between the companies and the government that has sent about $246 billion in their profits to the Treasury.

That was compensation for the taxpayer bailout they received after the 2007 housing market crash.The case before the justices involves the Federal Housing Finance Agency, which oversees Fannie and Freddie and was created following the housing market crash.

One of the questions for the court, which is hearing arguments by phone because of the coronavirus pandemic, is whether the.

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