Calling the Senate Ethics Committee;
Situation, here in the Corker office!
What a thoroughly stupid, unethical, and just plain dumb thing to do.
I am speaking about Sen. Bob Corker (R-Tenn.) going on national television with Rick Santelli, today, and suggesting investors “short” Fannie Mae and Freddie Mac stocks.
Why would this public official—or any public official--tout buying or selling stock in any publicly held company?
The man is a GSE critic, fine. But he has his DNA all over legislation to abolish and otherwise handcuff the companies and certainly their current public shareholders. (Can the Admin—owners of 79% of the entities--be happy with their guy Bobby?).
The Senate Ethics office immediately should be asked look into Corker’s antics.
Plus, there are more than 20 (some consolidated) court cases pending against the US Treasury over Fannie and Freddie mistreatment.
How can Corker know what will happen with those cases, especially the Delaware case, which on the face of it, seems to suggest Treasury had no authority vis-à-vis Delaware corporations (which Fannie is) to manipulate the preferred stock Treasury created in Fannie and Freddie as a preparation for its 2008 takeover called “conservatorship.”
Someone should give Senator Corker a ride out of town on a Tennessee walking horse!