[955]

This allows Congress to use its most powerful tool – the power of the purse – to ensure this CFPB is actually about consumer empowerment and not another vehicle for left-wing bureaucrats to advance the power of the administrative state.”

"...administrative state", aka Deep State, the unconstitutional, highly illegal 4th branch of Gov that is operating behind the scenes subverting operations of the other 3 branches. This is democracy??? I think not! We are being hijacked!!!

[Ace Trader]

Read my next post ! If you do not understand then better do some DD on the FHFA and it's controlling interest in Fannie and Freddie

[Ace Trader]

Bill Introduced to Turn CFPB Into Independent Agency

https://www.cutimes.com/2023/03/08/bill-introduced-to-turn-cfpb-into-independent-agency/?amp=1

https://barr.house.gov/press-releases?id=366A7336-D24F-4284-8051-A6B4D33EA42D

The TABS Act comes on the heels of the Supreme Court agreeing to hear a case that may dismantle the bureau.

Chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy Rep. Andy Barr (R-Ky.) reintroduced the Taking Account of Bureaucrats’ Spending (TABS) Act on Wednesday, which would place the CFPB into the congressional appropriations process and turn it into an independent agency.

According to Rep. Barr, the TABS Act would subject the CFPB to the traditional congressional appropriations process, like many other federal agencies. “Furthermore, the TABS Act would make the CFPB an independent agency named the Consumer Financial Empowerment Agency,” said a statement posted on Barr’s website.

“The CFPB is the most unaccountable and authoritarian agency in the entire federal bureaucracy. I’m leading this legislation to give the CFPB the wholesale makeover it needs to finally be accountable to Congress,” Barr said. “The Fifth Circuit Court of Appeals and prominent legal scholars have been clear that the CFPB’s novel and unique funding structure is unconstitutional by violating the Appropriations Clause. The TABS Act corrects this by requiring the Bureau to go through the traditional federal appropriations. The special treatment the CFPB has been receiving that has allowed for reckless spending and regulatory overreach will come to an end with the passage of the TABS Act. This allows Congress to use its most powerful tool – the power of the purse – to ensure this CFPB is actually about consumer empowerment and not another vehicle for left-wing bureaucrats to advance the power of the administrative state.”

CUNA President/CEO Jim Nussle applauded Barr’s reintroduction of the legislation. “We thank Rep. Barr for his legislation, which supports CUNA’s longstanding position that the CFPB is funded through the appropriations process. The CFPB’s actions and policies impact a massive part of the global economy, and we support actions to make the agency more transparent and accountable,” Nussle said.

“Congressman Barr is a tireless champion of regulatory relief and has demonstrated his commitment to battling burdensome regulatory overreach, Kentucky Credit Union League President/CEO Debbie Painter said. “This bill is another example of those efforts. We look forward to working with Congressman Barr and his team on this bill and others to promote growth and fairness within the financial industry.”

The CFPB has increasingly become the focus of lawmakers and judicial experts as of late. On Feb. 27, the Supreme Court announced that it will hear a 2017 case in which the U.S. Court of Appeals for the Fifth Circuit in New Orleans ruled last October that the CFPB operates outside of what it considers a constitutional imperative that agencies be funded from direct appropriations by Congress.

Last week, officials with NAFCU stated the potential pitfalls if the CFPB were to be dismantled. Ann Petros, vice president of regulatory affairs, said NAFCU opposes a decision “that would upend the CFPB and could put the consumer financial services industry into chaos.”

“What we don’t want is the CFPB dismantled,” Petros said. “It should continue to operate.”

If the CFPB is deemed to be unconstitutional, the actions it spawned might also be considered illegitimate. Petros said this could raise questions of the validity of a host of current lending rules, such as those governing mortgage originations or car lending.

“There would be a question if people could close loans,” Greg Mesack, NAFCU’s SVP of government affairs, said. “It could have a devastating impact on people buying homes, buying cars.”

It’s expected the Supreme Court will hear the case this fall and announce its ruling in 2024.

[sidedraft]

Why copy/paste all of this, what is your point?

[Ace Trader]

''''''''BOOM'''''''''''

https://uscode.house.gov/view.xhtml?req=(title:12%20section:1833b%20edition:prelim)

(11) FINANCIAL INSTITUTIONS REFORM, RECOVERY, AND ENFORCEMENT ACT OF 1989.—The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Public Law 101–73; 103 Stat. 183) is amended—

(A) in section 1112(b) (12 U.S.C. 3341), by striking “Bureau of Consumer Financial Protection” and inserting “Consumer Financial Empowerment Agency”;

(B) in section 1124 (12 U.S.C. 3353), by striking “Bureau of Consumer Financial Protection” each place such term appears and inserting “Consumer Financial Empowerment Agency”;

(C) in section 1125 (12 U.S.C. 3354), by striking “Bureau of Consumer Financial Protection” each place such term appears and inserting “Consumer Financial Empowerment Agency”; and

(D) in section 1206(a) (12 U.S.C. 1833b(a)), by striking “Federal Housing Finance Board” and all that follows through “Farm Credit Administration” and inserting “Federal Housing Finance Agency, the Consumer Financial Empowerment Agency, and the Farm Credit Administration”



§1833b. Comparability in compensation schedules
(a) In general
The Federal Deposit Insurance Corporation, the Comptroller of the Currency, the National Credit Union Administration Board, the Federal Housing Finance Agency, the Office of Financial Research, and the Bureau of Consumer Financial Protection, the 1 Farm Credit Administration, in establishing and adjusting schedules of compensation and benefits which are to be determined solely by each agency under applicable provisions of law, shall inform the heads of the other agencies and the Congress of such compensation and benefits and shall seek to maintain comparability regarding compensation and benefits.

(b) Commodity Futures Trading Commission
In establishing and adjusting schedules of compensation and benefits for employees of the Commodity Futures Trading Commission under applicable provisions of law, the Commission shall-

(1) inform the heads of the agencies referred to in subsection (a) and Congress of such compensation and benefits; and

(2) seek to maintain comparability with those agencies regarding compensation and benefits.

( Pub. L. 101–73, title XII, §1206, Aug. 9, 1989, 103 Stat. 523 ; Pub. L. 102–233, title III, §302(a), Dec. 12, 1991, 105 Stat. 1767 ; Pub. L. 107–123, §8(d)(3), Jan. 16, 2002, 115 Stat. 2400 ; Pub. L. 107–171, title X, §10702(b), May 13, 2002, 116 Stat. 516 ; Pub. L. 111–203, title I, §152(d)(3), title III, §367(8), July 21, 2010, 124 Stat. 1414 , 1557.)


Editorial Notes
Codification
Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Deposit Insurance Act which comprises this chapter.

Amendments
2010-Subsec. (a). Pub. L. 111–203, §367(8)(B), which directed striking out ", and the Office of Thrift Supervision" could not be executed because those words did not appear subsequent to amendment by Pub. L. 111–203, §152(d)(3)(B). See below.

Pub. L. 111–203, §367(8)(A), which directed substitution of "Agency, and" for "Board, the Oversight Board of the Resolution Trust Corporation", was executed by substituting "Agency" for "Board" after "Federal Housing Finance", to reflect the probable intent of Congress and the amendments made by Pub. L. 107–123 and section 302(a) of Pub. L. 102–233. See 2002 Amendment note and Change of Name note below.

Pub. L. 111–203, §152(d)(3), substituted "Finance Board, the Office of Financial Research, and the Bureau of Consumer Financial Protection" for "Finance Board," and struck out "and the Office of Thrift Supervision," after "Credit Administration,".

2002-Pub. L. 107–171 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

Pub. L. 107–123 struck out "the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation" after "Federal Housing Finance Board,".


Statutory Notes and Related Subsidiaries
Change of Name
Oversight Board redesignated Thrift Depositor Protection Oversight Board, effective Feb. 1, 1992, see section 302(a) of Pub. L. 102–233, formerly set out as a note under section 1441a of this title. Thrift Depositor Protection Oversight Board abolished, see section 14(a)–(d) of Pub. L. 105–216, formerly set out as a note under section 1441a of this title.

Effective Date of 2010 Amendment
Amendment by section 152(d)(3)of Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of this title.

Amendment by section 367(8) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Effective Date of 2002 Amendment
Amendment by Pub. L. 107–123 effective Oct. 1, 2001, see section 11 of Pub. L. 107–123, set out as a note under section 78ee of Title 15, Commerce and Trade.

1 So in original. Probably should be "Research, the Bureau of Consumer Financial Protection, and the".

https://www.congress.gov/bill/118th-congress/house-bill/1382/text?s=1&r=12

[trunkmonk]

From other board. I also think Ackman becomes more active this year.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171520924

[trunkmonk]

There is always the excuse handing par to JPS, converting to commons help facilitate offerings. Really, what moron institution cares about diluting commons to make those same commons look more valuable. Insane. How many ways can dumb ideas be said until somebody agrees? That’s the plan for JPS. I’ll stick with commons until JPS are Penny land.

[trunkmonk]

There is always the excuse handing par to JPS, converting to commons help facilitate offerings. Really, what moron institution cares about diluting commons to make those same commons look more valuable. Insane. How many ways can dumb ideas be said until somebody agrees? That’s the plan for JPS. I’ll stick with commons until JPS are Penny land.

[trunkmonk]

Moelis plan B, hope that JPS go for over a dollar, and keep spreading lies about capital stacks and structures to bash common share value...another words its a new spin on receivership

[trunkmonk]

From big brother board: Oh no, what about receivership/capital structure/stack of pancakes? when will they learn? will Ps continue to lend time to the greatest class action of all time?

Barron,
Question, am I reading this correct?

Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee to be paid by the Enterprise.

The Charter Act the Law of the Land.

The United States prohibition on assessment or collection of fee or charge to Fannie Mae, (section 304 Fee Limitation). Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309).

Therefore, the FHFA was not given authority by Congress to enter into contract with the United States Treasury in the amount of $200,000,000,000 (two hundred billion dollars): This amount of money is construed as a commitment from the Treasury, a line of credit, backstop. This money was not used to purchase obligations of Fannie Mae as permitted in the HERA legislation under terms as defined by the changes of the company's Charter Act by HERA. The HERA legislation granted temporary authority to the Treasury to purchase obligations of the Enterprise, above the limits written in the Charter, (Charter limitation of 2.25 billion).

SEC. 304. SECONDARY MARKET OPERATION

Fee Limitation

Quote: “(f) PROHIBITION ON ASSESSMENT OR COLLECTION OF FEE OR CHARGE BY UNITED STATES.—Except for fees paid pursuant to section 309(g) of this Act and assessments pursuant to section 1316 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, no fee or charge may be assessed or collected by the United States (including any executive department, agency, or independent establishment of the United States) on or with regard to the purchase, acquisition, sale, pledge, issuance, guarantee, or redemption of any mortgage, asset, obligation, trust certificate of beneficial interest, or other security by the corporation. No provision of this subsection shall affect the purchase of any obligation by the Secretary of the Treasury pursuant to subsection (c) of this section.” End of Quote. Page 16

SEC. 309. GENERAL POWERS OF GOVERNMENT NATIONAL MORTGAGE ASSOCIATION AND FEDERAL NATIONAL MORTGAGE ASSOCIATION

Federal Reserve Banks to Act as Fiscal Agents (Fannie Mae and GNMA)

Quote: “(g) DEPOSITARIES, CUSTODIANS, AND FISCAL AGENTS.—The Federal Reserve banks are authorized and directed to act as depositaries, custodians, and fiscal agents for each of the bodies corporate named in section 302(a)(2), for its own account or as fiduciary, and such banks shall be reimbursed for such services in such manner as may be agreed upon; and each of such bodies corporate may itself act in such capacities, for its own account or as fiduciary, and for the account of others.” End of Quote. Page 29

https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/aboutus/pdf/fm-amended-charter.pdf

https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf

[trunkmonk]

Why are they so wrong. Can’t they read. I already stated the only reason they stopped the sweep
was because Of enbank decision that led to SC taking case. They got scared. SM and MC are Wiesel and snake. Once the Ps messed up SC decisions because they didn’t correctly focus and got greedy, SM took advantage and amended PSPA to hotel California. Bright, not one month before shot across the bow of GSEs.
Why do Ps not really understand what happened?

[trunkmonk]

Why does anyone keep talking about a failed FHFA Director who got fired. I guess it fits their post receivership agenda?

[tuzedaze]

Maybe we finally get something going as someone is going to need some money….

https://deliverypdf.ssrn.com/delivery.php?ID=897001005069005118084010123120067077034027008029087048022104123028025074064104118120039058099039050028002121093123094115031076056010074000048107003110012117005098038041084091031020094104096074015064096091115011027012117015088099089111088096105115121&EXT=pdf&INDEX=TRUE

[Ace Trader]

The ONLY way jps are toast is in a BK chapter 7 ! Chapter 11 which is the normal means bond holders are first in line and common shareholders are last and normally get wiped out ! The legal JPS contracts state NO conversion to common!

However the Gov made up this foney Conservatorship and stole shareholders money along with the companies. I'm sure they could come up with a way to steel the companies and wipe out all shareholders and create a new stock offering and new company all rolled into ONE! Only problem with that is not many would buy into it as the gov could do it again to shareholders and I'm sure many hedge funds and banks etc have made that aware of so where does that leave the Gov in steeling as much as they can before handing them back ??

My 2 cent worth is:

NEW STOCK TEIR for Fannie & Freddie
1, Gov keeps the warrants and receives a quarterly dividend on total income per quarter. (10%) or whatever.

2, Gov converts SPSA uses those for a stock offering as a (special preferred stock with NO voting rights) to banks, hedge funds and the mortgage market lenders in a system that is controlled by the FHFA.


3, Junior preferred stock stays as is.

4, Common stock stays as is.

The Gov could keep things how they are and the ( Special preferred shares) and the govs warrants could be the only ones getting dividends.
The Dividend pool payout will be less for both JPS and common shareholders if this happened or none.

[Wise Man]

Our negotiator posts summary with the stock valuation at Book Value (Common Equity) and the expected cash refund to FnF from the Treasury and the FHFA, as of end of 2022, under the Separate Account plan that legalizes every single action but the Securities Law violations.
The case of Fannie Mae is posted on the $FNMA board.

$FMCC:SUMMARY
▪️Common Equity:$97B($150)
Beginning bce,June 2008:$-1.2B
+Total Comprehensive Income(Accounting changes):$72B
+CRT, net:$7.7B
+73% PLMBS suit:$19B
▪️Cash refund=$74B
UST,$55.8B: $48B SPS overpayment +$7.7B CRT,net(RE)
FHFA,$18B PLMBS suit(Atty fees,incl)#Fanniegate pic.twitter.com/Vs5LXoBc8x

— Conservatives against Trump (@CarlosVignote) March 17, 2023

[trunkmonk]

lol, this thing actually closed green.

[trunkmonk]

It’s just begun. The damage from QEs, crypto pyramids, banking negligence such as debt loads of everyone because rates were so low. It’s insane the corruption in DC that so much resembles GSE hoax after 08 crisis, which was just greed and arrogance. I can go all day on the Fed, treasury, and dumb congress oversight.

[primewa]

The whole country's banking system are going down due to crooks run gov and crooks court are in bed together.  Karma for putting F & F in Cship and stolen F&F SH profits for 14 years with support by stupid courts. 112 Billion support for war at the cost of more human life for the war profiteering.  What goes around comes around. Crooks run gov will ruin everything and bring a middle class family to the knees. Please tell me about your life at that moment where your wealth is good under DJT, no war, no inflation, no raise interest and no banking collapse and those days are gone and replaced by socialism.  Once again you ain't see anything yet. No one to blame except the crooks run gov and brainless in charge. Believe that.  

Sharon Stone Says She Lost “Half My Money to This Banking Thing,” Breaks Down in Tears During Speech

https://www.yahoo.com/entertainment/sharon-stone-says-she-lost-082101816.html

https://finance.yahoo.com/video/fed-providing-liquidity-banks-first-192413443.html

https://www.reuters.com/world/us/further-us-involvement-ukraine-is-not-vital-national-interest-says-desantis-2023-03-14/

https://cdn.jwplayer.com/previews/9VLJXLLT

https://www.newsweek.com/henry-kissinger-ukraine-should-give-territory-russia-reach-peace-1709488

https://www.voanews.com/a/us-aid-commitment-to-ukraine-largest-since-us-war-in-iraq/6975185.html

https://www.yahoo.com/news/moldova-anti-government-protest-stirs-152906783.html

[trunkmonk]

This is news worthy. From other board.
https://investorshub.advfn.com/uimage/uploads/2023/3/16/afewm1.JPG

[trunkmonk]

Koo koo nuts blaming bank failures on Trump, when democrats demanded everything shut down. GSE in conserve for decades is Trumps fault, I get it now.

[primewa]

Fed providing liquidity to banks was ‘the first step’ in restoring confidence??? Fck the crooks Fed. What about F&F private own company your mf crooks stolen F&F SH for last 14 years? Obuma stolen F&F profit for Obuma care does the sounds restoring confidence to your mf crooks fed? Again, Further U.S. involvement in Ukraine blank check is not vital national interest very correct orchestra by war profiteering.

https://finance.yahoo.com/video/fed-providing-liquidity-banks-first-192413443.html

https://www.reuters.com/world/us/further-us-involvement-ukraine-is-not-vital-national-interest-says-desantis-2023-03-14/

https://cdn.jwplayer.com/previews/9VLJXLLT

https://www.newsweek.com/henry-kissinger-ukraine-should-give-territory-russia-reach-peace-1709488

https://www.voanews.com/a/us-aid-commitment-to-ukraine-largest-since-us-war-in-iraq/6975185.html

https://www.yahoo.com/news/moldova-anti-government-protest-stirs-152906783.html

The socialism fck around and aid 112 billion to Ukraine war causing millions of innocent civilian dying for both country and beautiful infrastructure destroyed by the hands of war profiteering and on top of that the crooks brainless raising the interest try to tamp down the inflation??? Instead of MAGA. So ridiculous and stupid in charged by socialism brainless only hungry in power support by fake media. Now the fake media laid off ten thousands of workers and tanking their stock due to higher interest rate, more banking failed because of it. Crooks gov done the good job. Nobody else to blame except the crooks gov and crooks court are in bed together. Spend bunch of BS covid crap billions of billion and mandatory here there. F&F still in Cship orchestra by crooks gov wrongful seized the rightful owner of F&F SH. Now karma is coming and nature disaster flooding in CA and 15 million people could endure flooding as another atmospheric river takes aim at storm-battered California. What goes around comes around. Your mf deserve it. Under DJT no bank failure, no war and no inflation. Go figure and tell me if I am wrong? Remember, don't matter DJT or let’s go Brandon. Just make the old USA become MAGA. Russia invade Ukraine because the threat of missile as intention by the West place inside Ukraine and that how the war started it. Propaganda said Russia will invade Europe and compare him like Hitler so fck damn wrong and spread the liar only fools to uneducated people. Sen. Rand Paul says Putin only invades countries that ‘were part of Russia’. Both side need to work together to prevent the war and killing innocent civilian and maintain the infrastructure. So costly to rebuild it. Even Henry Kissinger: Ukraine Should Give Up Territory to Russia to Reach Peace. No one will listening due to war profiteering and socialism in charge. So far 112 billion taxpayers chip in and more to come without any issue. But MAGA and release F&F out of Cship have problems? In 2024 GOP reclaim the WH and crooks socialism will be fired and that is the fact and those socialism will be punished to extent of the law for their treatment cook book F&F SH period. Bank failure, Interest rate goes up, the cost of living goes up and gas price and foods etc.... Bottom line everything inflation and soon heading to recession. Oh continue aid Ukraine war at the expense of taxpayers. Gee, I don't remember under DJT was there any bank failure or war or inflation etc... Obviously, the current crooks run gov and crooks court know ideas how to functioning the gov and the law to them nothing like jungle law or should I say banana gov. This is how hungry the crooks love to to be in charge power can’t even know how to take care the domestic issues. Now the karma hit crooks creates many disaster. What goes around comes around. Dump B ask Dump B shall receive.

[955]

There's a motive to their madness. All for the purpose of ushering in CBDC to replace old fiat system......and the ousting of Putin, whom they view as an obstacle in implementing their globalist system of government. That is where all this is headed, if we don't get nuked first.

[trunkmonk]

After 14 years of GSE theft and corruption on a grand scale we can’t get either a coherent lawyer, nor corrupted judges to see real facts, theft, and injustice.
Someone should lead a coup on DC, throw out everyone there, and start over with following constitution. 99% of the people are with me.

[trunkmonk]

All release talk was history after supreme flub by preferred in Supreme Court. SM and MC stated it’s gonna be a big problem for them. But once lawyers fumbled and bumbled the whole case, they must have been laughing the whole time until SM did his dirty deed on his way out. While Dr Evil kept laughing until they kicked him out with his cat litter right behind him. The illusion is still alive by Ps and Cs wait with a few wing nuts and a prayer.

[primewa]

The socialism fck around and aid 112 billion to Ukraine war causing millions of innocent civilian dying for both country and beautiful infrastructure destroyed by the hands of war profiteering and on top of that the crooks brainless raising the interest try to tamp down the inflation??? Instead of MAGA. So ridiculous and stupid in charged by socialism brainless only hungry in power support by fake media. Now the fake media laid off ten thousands of workers and tanking their stock due to higher interest rate, more banking failed because of it. Crooks gov done the good job. Nobody else to blame except the crooks gov and crooks court are in bed together. Spend bunch of BS covid crap billions of billion and mandatory here there. F&F still in Cship orchestra by crooks gov wrongful seized the rightful owner of F&F SH. Now karma is coming and nature disaster flooding in CA and 15 million people could endure flooding as another atmospheric river takes aim at storm-battered California. What goes around comes around. Your mf deserve it. Under DJT no bank failure, no war and no inflation. Go figure and tell me if I am wrong? Remember, don't matter DJT or let’s go Brandon. Just make the old USA become MAGA. Russia invade Ukraine because the threat of missile as intention by the West place inside Ukraine and that how the war started it. Propaganda said Russia will invade Europe and compare him like Hitler so fck damn wrong and spread the liar only fools to uneducated people. Sen. Rand Paul says Putin only invades countries that ‘were part of Russia’. Both side need to work together to prevent the war and killing innocent civilian and maintain the infrastructure. So costly to rebuild it. Even Henry Kissinger: Ukraine Should Give Up Territory to Russia to Reach Peace. No one will listening due to war profiteering and socialism in charge. So far 112 billion taxpayers chip in and more to come without any issue. But MAGA and release F&F out of Cship have problems? In 2024 GOP reclaim the WH and crooks socialism will be fired and that is the fact and those socialism will be punished to extent of the law for their treatment cook book F&F SH period. Bank failure, Interest rate goes up, the cost of living goes up and gas price and foods etc.... Bottom line everything inflation and soon heading to recession. Oh continue aid Ukraine war at the expense of taxpayers. Gee, I don't remember under DJT was there any bank failure or war or inflation etc... Obviously, the current crooks run gov and crooks court know ideas how to functioning the gov and the law to them nothing like jungle law or should I say banana gov. This is how hungry the crooks love to to be in charge power can’t even know how to take care the domestic issues. Now the karma hit crooks creates many disaster. What goes around comes around. Dump B ask Dump B shall receive. Again, Further U.S. involvement in Ukraine is not vital national interest very correct orchestra by war profiteering.

https://www.reuters.com/world/us/further-us-involvement-ukraine-is-not-vital-national-interest-says-desantis-2023-03-14/

https://cdn.jwplayer.com/previews/9VLJXLLT

https://www.newsweek.com/henry-kissinger-ukraine-should-give-territory-russia-reach-peace-1709488

https://www.voanews.com/a/us-aid-commitment-to-ukraine-largest-since-us-war-in-iraq/6975185.html

https://www.yahoo.com/news/moldova-anti-government-protest-stirs-152906783.html

[CatBirdSeat]

Back in 2008-2009 the original plan for the GSEs was to merge them to bring confidence to the market. It was also an idea brought up several times over the years (NMRC idea backed by HRC, etc)

Merging Fannie and Freddie is the only way now to fix this new banking contagion.

We have the perfect storm

[trunkmonk]

warner and corker were both shorting the GSEs while making decisions on them, Corker and Warner should be wiped out financially and never be allowed to be in the markets again. All Politicians should not just be restricted from trading, they should never again be allowed to influence or take advantage of markets. they are a conflict of interests their whole life after office.
Moron Mark didnt like getting lobbied by people much smarter than he was. is its not about whats right with Warner, its about his hidden agendas of hate.

[trunkmonk]

When someone says commons worthless by 2028 and later says will buy more commons, time to never listen again.

[trunkmonk]

When someone says commons worthless by 2028 and later says will buy more commons, time to never listen again.

[955]

Fannie and Freddie provide affordable housing over the long term, yet affordable housing is still a major problem in this country. The root cause of the affordable housing problem is hinted in the quote below from the article linked below. Politicians refuse to acknowledge it since they caused it. Their solution, low income housing and loan forgiveness. It is a problem of shortsightedness on their part.

From the article:

Of course, the problem is the places with lower housing costs tend to have lower wages and less available jobs, which makes it hard for folks to move to those areas.

Over the past half century, HIGHER PAYING manufacturing jobs have been exported to foreign countries, mainly Communist China, where wages are significantly lower netting much greater profits for US companies. Furthermore, for every manufacturing job, there are 6-10 additional jobs needed to support it (lower unemployment). Bring back the higher paying, lower unemployment manufacturing jobs and the people will once again be able to afford housing.

Problem with getting a loan:

Others explained the risk the lender takes on, to showcase why mortgage companies may deny loans applicants think they can afford.

"The HUGE difference is the risk taken by the bank vs the landlord," replied another Redditor. "Landlord risk if you do not pay-kick you out and find someone who will. 12 months lease. Bank risk-15-30 year mortgage ~$200,000 or more. All the possibilities for you to default within 15-30 years."

Banks look at risk. Once again, manufacturing jobs are lower risk in that they are longer term. Job security. Banks definitely take that into account when considering a 15-30 year mortgage. Take this from someone with first hand experience.

skeptic7
43 minutes ago
#750224 RE: 955 #750222

#irony

https://www.msn.com/en-us/money/realestate/millennials-and-gen-z-speak-out-the-real-struggle-to-buy-a-home/ar-AA18b7ey?ocid=msedgdhp&pc=U531&cvid=eebc7aa6d1a14adf81e009e6a0ba8529&ei=10

[trunkmonk]

Retained earnings were a direct result of 5th ckt. Fear is powerful ally.

[trunkmonk]

commons are legal owners of the company. but that does not stop anyone from ignoring this fact or forgetting that has as much of a case in any illegal theft. all the BS from preferreds over the years dont change the fact conserve is for protecting the company. but it never happened, preferred like to believe they are owed something or think this is in receivership but neither are true. for every case a P makes a C can make as many or more. 14 years later who has what?

[Ace Trader]

yer but JPS have legal contracts. JPS are legally bonds on debt ! the details of that are legal contrat which states in that contract terms.

Theres terms include !

No conversion to common shares.

Paid at par value.

So unless it's chatper 7 BK then contracts stand, Gov has to pay Par! Anyone else saying diiferan't hasn't read and understood the terms of the legal contract of the bonds on debt.

[Ace Trader]

Dam! Would have been a great TV show if it was Trump doing it !

[trunkmonk]

When Stevie wonder Mnuchin brought in Wall Street to structure an IPO, they all just had blank stares on their faces. They all knew what had to happen before a single share could be sold or even wanted. That’s when Stevie went Rogue at the end of his career, no remaining hope of anything legit as Treasury Sec. Now he funds his wife’s failed actress career.

[trunkmonk]

JPS bought out for a buck is new rumors. Which I agree. No company in the world would pay more than value of common shares. This is not receivership like JPS mouth pieces say. Always a comment about how even law suits are worthless. Difficult but not worthless like peanut gallery says.

[trunkmonk]

Now we’re supposed to be like preferred’s, in it for greedy money. Nope, best of everything would be to get GSEs released, commons would go much higher than any 2 bit cash settlement promoted by laywyers who laser focused efforts into the ground, almost.

[trunkmonk]

As far as court action goes, the SC decision against preferred greed and dumb laser focus requests, the judges didn’t understand even what was asked of them, it’s messed up all future cases.

[CatBirdSeat]

Freddie Mac Executives Receive Pink Slips For Un-professional Conduct Today.

Your Fired!