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Why are there no direct quotes on this from steve m?
Where is this interview? Like video of it?
Per Holdenwalker on Twitter
https://twitter.com/holdenwalker99/status/1333795392035508229?s=21
Senate committee just told Steve M to take administrative action. I mean this has never been said ever.
This should have made it jump higher not crash. But not like we haven’t seen the pos otc do this before lol.
Finally after so many average days lol! Go FNMA!
https://www.fhfa.gov//SupervisionRegulation/Rules/Pages/Comment-Detail.aspx?CommentId=15572
I believe this is why it going up. I just cannot figure out who wrote this. Like is this from someone at FHFA? If it is this is huge as it talks about common divs.
2020 is a month away. Why are people acting like 2020 is like 10 years away. Idiots.. Yea it is a delay but who cares. Gives the court time too
Bill Foster Dem IL "I think and that we should work together to wipe out the share holders completely, as I look forward to working with you on this"
I mean I am from Chicago IL.. Why in f*ck is this moron allowed to be a part of this hearing or even elected what a f*cking idiot. I am embarrassment being from Illinois that this Representative is allowed to even speak on this subject. He spends his entire 5 mins demanding to wipe out share holders and basically forcing Mark C. to state that if the opportunity presents itself we will. Even though that is not possible.
Like god damn I want to go to his office and throw bricks through his window in how incompetent a person can be. Fails to realize they are already private companies and god forbid a company keeps its profits; instead of getting Nazi raped for the last 11 years. No mention of En Banc maybe he should read that case decision instead of asking Stevey M about the current share prices which he peppered Steve M on.
He was the worst part of the entire meeting today. Please google Bill Foster and throw shade on this name, what a complete and utter moron.
Confused.
As why in the greatest news in a decade for FNMA happened and we go this far red? No excuse for this. We need to get off the OTC as this is pathetic. They can now keep their billions as this stock went up more on speculation then actual facts. Fact they keep their billions now. How many other companies can make billions like them? Rare breed of a company. Like wtf is with this manipulation.
Scotus already rejected hearing an FNMA case, see below. So, I do not think it is possible as Scotus rejected hearing once before they would not do this. So, it is gameover as they are just delaying the inevitable. Another dumb comment by Stevey M.
https://www.wsj.com/articles/supreme-court-rejects-investors-appeals-over-fannie-mae-and-freddie-mac-1519140261
Reed brought up the best point.
"I believe that FNMA took out 187bil and got back 300bil. Couldn't you just give that overage back to them and this would be resolved?
Steve defending taxpayers etc.
"Well isn't your plan to get the GSE out of c-ship to let them keep the money" So basically what is the difference he was referring to.
Steve: If that money (187bil) was put in the stock market the tax payers would/could have got a lot more in returns. Like wtf what guarantees that comment? WRONG.
Amazing it took 1 hour of this to bring that up as that is the biggest fact if all.
Best day I've seen in a long time! Congrats long! My shares are doing well today:)
Wanted to give a shout out to Navy. Thanks for all you have done over the years. Looking forward to our Vegas party for sure!
Why in the world would this go down? We just got the best news we have ever gotten from the head of the FHFA in 11 years. This is complete BS.
Such good news!
Stock should be up to $3-4 by now. As could you imagine if they said C-ship to last forever. I mean Gasbag and Carney and all those f-jobs would have had a field day and for certain stock would be at .99c in blink of an eye.
Again good news and very positive for president for once to state this, as for sure Obama did not share this sentiment. We go from "Wind them Down" to end c-ship. This is positive no matter what happens.
Mark C - Not aware of any reform made by Otting, Treasurer, white house? Why would Otting say that he was then?
Had to give lip service to the committee otherwise he’ll never get approved for that role. But the idea of working with idiots in congress needs to be stopped after he is sworn in. If not this may go on and on and on.
Wow that is a big difference in stance crapo is taking from winding them down last year to making them private companies again. Pretty big turn.
I think what happened is:
Otting has to report his plans to congress per Maxine waters very soon. His plan probably had no mention or no intent to have congress involved. So, to appease them he had no choice but to edit his plans to an extent to include congress oversight, as it would be viewed with a lot of hostility and piss many congressmen if it didn’t.
But still hope justice prevails here and otting honors his word. As both Stevy M and otting have now backtracked on their word consequently disrupted the share price by doing so. He can calm the waters by commenting on what congress involvement will be.
Based on absolutely nothing it is going down!?
Most positive news in 10 years we got the last few weeks. Fnma with no news back in the day was hitting $4 & $5 granted it was brief lol. But, the new news blows away any news we had in the past to achieve those marks. How this stock isn’t at at least 4-5$ now makes 0 sense.
We have to get on nyse for this manipulation to stop.
Luv/hate fnma somedays ??
Finally! Been here for a long time researching this daily. Glad the companies will be released!
As expected fhfa attorneys will not back down as that’s what they are paid to do. Frankly, fhfa Attorneys are just better at their jobs, plus judges don’t want to disrupt prior rulings.
One day those judges/attorneys will look back n be like I can’t believe I supported slavery I mean fhfa raping the Gses and how my ruling eerily sounds like something the nazi government would be proud of. Lol.
But, again courts don’t mean $hit anymore though. Otting & Stevey M have the power to end the C-ship and otting says they will. Never more positive news at any point then it is now in the last 10 years vested into this.
Otting says we will release the twins from the C-Ship and we go down, haha! Love it. The most positive news in 8-10 years and we go down. #Manipulation
Yea Net worth sweep was going to end this year and glad to finally get confirmation from the guy in charge #otting. Sucks for all that sold this morning lol!
Why did this go up?
Any reason why this news didn’t move the commons as much as prfds?
All it said is that pref. Maybe okay, but common likely not but then says no one knows. So it’s all positive as couldn’t get rid of commons as everyone would sue the government. Idea is to keep fnma so we all win!
Why are all congressman oblivious as it seems like the Obama sentiment of winding the companies down or they think of GSE as evil and never mention the funds they currently make and giving back. But we are far past that, it's like it is 2008-09 all over again in their mind. Ridiculous
Only Congressman Capuano makes sense.
Congressman Sherman agrees that everything is working fine! So.... what is there to debate
Love this guy!
“The failed GSE experiment” I literally lol. Yes a sustainably company that has been around for decades is an experiment haha!
But the new idea will be a successful experiment based on what?
What a f-ing moron.
Makes two of us. And that is funny as that is actually where that f-ing scumbag mario ugoletti is now, somewhere in south america probably hiding now lol, such a POS....
The past government are complete idiots regarding these 11k documents.
The government knew that these documents would come out and had chances to do the right thing, and didn't... And now they are all going to get screwed. The Attorneys representing the treasury in courts obviously had access to these documents and LIED in court. They should all be disbarred immediately and high officials should be in jail. Mario U and Jim Parrot two bitches...
What we need are the directors of making a murder to do one about the theft of fnma. If public knew about this no way corker, crapo exist as they would public enemy #1.
Honestly thinking of doing this myself someday.
Mel watt: not possible to have 30 year mortgages without gses
Do you believe you have the right to suspend nws?
Mel watt: Yes I do!!!'
Joe Light is the new John Carney. That is a very bold statement to make that the treasurer plans to continue the NWS as WHO is the spokewoman? Why wouldnt Steve M come out and say this? Seems very specific when all that has been said on FNMA has been very vague at best. And when was this said exactly? And did anyone else hear this?
Joe Light seems to be getting paid by Corker at this point.
Stevey M. says and confirms that Obama took all the profits which is incredible news and anyone involved for stealing private property should be in prison and this should be investigated to the fullest extent. I am thinking of doing a documentary on this like for real.
However, it is somewhat unnerving that Steve/Trump themselves already took one quarter profits themselves and have not said it will stop either or at least place in a escrow to figure things out. So, if they said that Obama is bad for doing what he did then why in the F*ck would they continue this...
Like if they take another quarters profits then that complete BS.
Why are the preferred shares all up? N commons so far down?
This was the fnma/fmcc freedom of information act of 2017 so i believe it is just for fnma/fmcc and not the government entirely.
First I hate Jim parrot on a personally level as he's a snake.
Second is this. Obama I do not believe Ewa directly involved to avoid conflicts. But Jim parrot was. There will be more emails like this that show complicit evidence he and small group others formulated this sweep addem. "Great work" what a pos!
On Saturday, August 18, 2012, the day after the “Net Worth Sweep” was announced, Jim Parrott, a senior White House official serving on the National Economic Council who was intimately involved in devising and implementing the Net Worth Sweep, sent an email with the subject “Great Job” to Under Secretary of Domestic Finance Mary Miller and other Treasury officials. This e-mail, and others recently unsealed, make it clear that FHFA was not acting as an independent agency under HERA’s reuuirement that: “When acting as conservator or receiver, the Agency shall not be subject to the direction or supervision of any other agency of the United States or any State in the exercise of the rights, powers, and privileges of the Agency.”[v] The email states: “You guys did a remarkable job on the PSPAs this week. You delivered on a policy change of enormous importance that’s actually being recognized as such by the outside world (or the reasonable parts anyway), and as a credit to the Secretary and the President. It was a very high risk exercise, which could have gone sideways on us any number of ways, but it didn’t – great great work.”[vi]
(b) Effective Date; Applicability.—The amendment made by subsection (a) shall be effective on the date of the enactment of this Act and shall apply with respect to any request filed under section 552(a)(3) of title 5, United States Code, on or after such effective date, relating to any record created before, on, or after the date of the enactment of this Act.
BEFORE is the key word there.. Jim Parrot likely shitting his pants now.. As he is going to jail haha!
Voting on it again I guess
Manager clause is key there... They state that if/when the conservatorship is over. FNMA needs to be brought back to a normal state and be allowed to compete in this market. No mention of doing this to wind them down.
Meaning that this congress allowing FNMA in the manager clause to update their websites, hire new staff etc.. Like this is a clause within this bill? That is freaking huge news...