Fannie Mae-No Politics (FNMA)

[chessmaster315]

Shelby: Favors Free Markets and shareholder rights

This is a direct quote from "Absurd Trader" in his visit with Shelby in DC:

Absurd_Trader
In meeting with Shelby and Sessions' Banking Staff, they confirmed that both favored free markets and private shareholder rights. The direction that Shelby and Sessions will move will honor shareholder rights while limiting government give-aways, government price setting and other government intervention that create distorted and perverse incentives. Their key phrase is ...if you think that We (the government) has problems...wait till you see our solutions.

The power of the Banking Cmte. has clearly shifted from Corker/Crapo to Shelby. Shelby voted no to Johnson Crapo and stated publicly that there needed to be reforms but that Johnson Crapo was worse than the current system and would simply create another government bureacratic agency, ie, the FMIC.

Shelby will favor increasing G-fees, the building of capital, eliminating affordable housing and pricing mandates, and getting government out of the ownership structures of Fannie and Freddie.

While it remains to be known what exact policies he will focus on, it is for sure that he favors private ownership and less government intervention. He is building a strong banking team. His first focus will be in regards to Dodd Frank.