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CRT programs cost Fannie or Freddie $30 dollars in normal times and $3 dollars even in a worst-case scenario to transfer $1 dollar of credit losses.
These are the groups of people getting rich off of this:
The investors
The issuers
The Lawyers
The Rating Agencies
The Banks (their competition is being managed by people systemically trying to weaken them because the banks have captured the regulators and Congress)
The Media (either being paid to be silent, don't cover it because its complex or just obfuscate like they always do with anything substantive, specifically Charlie Gasperino, Joe Light, and John Carney - transparent sycophants the lot of them)
SEEMINGLY the courts (given how they continue to bend over backwards to protect this scam and all others in this saga and likely for the same reason as Congress)
It is a cesspool of suck.
The people getting screwed:
Any FNMA shareholders
The taxpayer
It is a fraud and they think that the noise of the day will protect them forever. It will not.
No one is there to protect the people getting screwed.
see https://howardonmortgagefinance.com/2021/10/19/comment-on-ercf-rule-amendments/#comment-25483
tell me you haven't been paying attention without telling me you haven't been paying attention.
its very hard for many to fathom actually - the ruling was pathetic oh and I don't want to forget, cowardly also.
Justice lost
just fyi
Why power corrupts. pic.twitter.com/cwbKHcaQsd
— John McAfee (@officialmcafee) June 17, 2020
#fanniegate is quiet this morning. did something happen?
— Charles Gasparino (@CGasparino) January 15, 2021
gonna need a source on that one
No, they won't.
because the banks run every branch of gov't
?Goldman pays $2 Bn in 1MBD corruption probe, avoids criminal conviction.
— zerohedge (@zerohedge) October 20, 2020
That's how the legal system really works
lol what'd you do to get blocked by those guys? also incognito mode is your friend
Remember when Sweeney said that the gov't acted like the mob and then said she was kidding in her next action? I would like bananana republic for $200 billion Alex.
do you have any shred of evidence DJT has any idea what he's doing in this arena? I've seen nothing. Specifically him, not his handlers.
baffle them with BS - keep repeating the lie until we believe it. Ain't going to work.
the grand finale rule
it's not so much him as the captured congress he's trying to kiss up to. He wants to get paid like they do! under the table and dreaming
ahh so they'll get away with it... welp best shift all to prefs!
oh wait don't people know what they're stepping into? a big ole DC corruption pile - shut up and take my $$$
that capital rule looks pretty strict - probably going to scare a few big fish off.. but really who are we kidding - its the banks and insurance cos picking over the bones, make umm no bones about it.
Imagine those bankers looking at this situation and laughing their collective heads off at all these retail guys that think they're going to be left with anything... including the currently outstanding JPS... the entire equity structure is going to get completely boned and the banana courts rubber stamped it because they're all in on the take.
Don't forget to fly your flag, wouldn't want to forget what happened to the last equity bagholders.
If every case is settling - do you think the Washington Federal plaintiffs will do better waiting for that event or do you think they're getting dismissed regardless?
hey can you explain how JPM and Goldman are going to takeover the GSEs? I am curious as to how that is going to work in your view.
*CALABRIA: RELEASE EFFORT PROBABLY PUSHED BACK THREE-FOUR MONTHS
lol
then you have no hope left
and the regular courts are captured by WS
Because it was OBAMAGATE, and he and Sleepy Joe led the charge. The most corrupt administration in U.S. history! https://t.co/PTzFvvITh3
— Donald J. Trump (@realDonaldTrump) May 11, 2020
funding secured?
go ahead - do the warrant dance and see if you don't get sued - try it!
"they're like the biggest loan mortgage operator in the untied states"
cool
they should've fixed the roof while the sun was shining
if you read the statement from the FHFA - they're looking into it -
“We are aware of the issue,” said Raphael Williams, a spokesman for FHFA. “Currently, we are working to find out the breadth of the issue and possible solutions.”
only the WSJ and BBG are reporting like they're actually planning to buy bad loans from the banks that went bad from the period the originated to the period they were sold - usually less than 3 months.... so they want a bailout on their very recent crap originations directly from the GSEs - no thanks - sorry you shouldn't make such shite loans with the money from YOUR MORALLY HAZARDOUS guarantee that you seem to love to point out the GSEs have but you also have and have wielded with much greater destructive power than they ever did.
JFC these journals are so blatantly propagandized and suckling at the teat of the banks its hard to even read.
Source? Any substantiation at all?
he's also done more work on this than 99% of people on this board have even thought about doing and constantly has morons tell him they know than he does, perhaps that gets to someone after years.
note I am not him
I was on that call - I believe what was said is that they do not work for "litigating" shareholders. But that doesn't mean they don't work more for prefs vs. commons. They clearly have a preference.
I gotta say
Calabria is quick to fuck over the companies he's supposed to be conserving and preserving - what a crock of shit
what actions are you suggesting? not individual actions - actions from the FED and Congress?
since forever boomer
he looks kinda sick..
Is Trump's speech going to be mostly about COVID19 but some about GSE reform?
Dear @stevenmnuchin1 @USTreasury @MarkCalabria @FHFA Your risks are rising. The #SolicitorGeneral highlighted to the #SupremeCourt the risk of an adverse decision in #Selia. Unlike #DFA, #HERA, has no #severability. @FannieMae @FreddieMac #FannieMae #FreddieMac #GSE @larry_kudlow pic.twitter.com/iIeD60OWaA
— joshua rosner (@JoshRosner) March 5, 2020