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1. Then monesthind responds with" I can't refute

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brandemarcus   Thursday, 07/18/13 01:11:30 AM
Re: Demar post# 27668
Post # of 37146 
1. Then monesthind responds with" I can't refute your facts but my propaganda will win the political contest so too bad"

2. The biased survey Monest hind keeps using told those polled that fnf had cost the taxpayers 189 billion . They conveniently forgot to mention that 130 billion has already been paid back and by 2014 the taxpayers will net cost will be zero and going negative. Public opinion changes quickly when that happens and so does the politics. Jack Lew has already changed his opinion to no comment. Again this is why Corker and Hensarling are in such a hurry because they no the jig is up once net zero is reached.

3. The higher the earnings the quicker net zero is reached and the sooner the politics changes. That's why the earnings are so important despite the fact that all earnings go back to the government for now.

4. Even better news came out today when Mark Warner stated that no Democrat can support the Hensarling plan. This means further delay while the anti-fnf forces try to get their act together and more time for fnf to reach net zero and political turning point.

5. The treasury has never said exactly that they want to shut down Fannie and Freddie. They have only said that they want to wind down the held portfolio to 250 billion and increase guarantees to reduce fnf market share. They always add the qualifier that they want to make sure fnf do not rebuild capital and come back in prior form. That holds out the possibility that they come back structured in a different way.
This is all in the white paper that treasury released in 2011.


6. As an example: The treasury could stop taking dividends into the general fund when net zero was reached and put the funds into dedicated capital reserve fund. At the end of 5 years enough funds would accumulate that fnf could come back needing much less government support. The portfolio would be wound down and the companies would not be in prior form. The jr pfd and the common would still be quite valuable and the treasury goals would still be followed. The taxpayers would make a bundle since the 189 billion would be totally repaid plus the treasury would still own 80% of the new company through the warrants. This is pretty close to the plan advocated by Jim Millstein who was involved in the payback plan for Aig.

7. Even if none of the politics changes, the treasury now has too win 5 lawsuits and more are coming every week. Even if Bob Corker is too dumb, Jack Lew will soon see it's a win -win for the taxpayers to proceed with plan similar to the one Jim Millstein outlined and get rid of the legal problems.



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