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"As we all know..."
I stopped reading
Jaja pathetic
Man, if he supports a private Fannie Mae with its own capital buffer why the hell he should be against shareholders? Can you think before you write?
MARCH 31 Trump must stop theft of FANNIE & FREDDIE - make public 11,000 docs from OBAMA executive privilege @realDonaldTrump @SteveKBannon
Calabria is a puppet, we need Mnuchin to say.
It was Obama admin, not Trump
Calabria: "I do think that @FHFA & @USTreasury broke the law. I'd like to see Paulson & Demarco in front of a judge" https://t.co/W7i4v7iMn6
— GSE Trade - Nov. '24 (@Fanniegate101) March 22, 2017
Fox interview in November 2016
You all know when GSEs start rebuilding capital this is game over.
Cry shorts.
"The new administration's immediate focus to allowing the mortgage financing institutions' to rebuild depleted capital"
Here you are
And Mnuchin:
"For these reasons, we were very pleased to hear Steven Mnuchin, your nominee for Secretary of
the Treasury, recently articulate that it will be a “priority” of your administration to “get Fannie
and Freddie out of government ownership” and make them “absolutely safe”. We strongly support
such a pragmatic and rational path forward.
Thank you for your attention to this important matter, and we welcome the opportunity to meet
with you, Mr. Mnuchin, and Dr. Carson for further discussion whenever convenient. "
What to Do with Fannie and Freddie?
Because I am largely advocating a return to the originate-and-hold model, what should we do with the secondary market’s biggest players? There may well be value in a smaller secondary market and in the current GSEs. To retain whatever value there is, the current GSE charters should be converted to national bank charters and the GSEs reorganized as bank holding companies (BHCs). Not only could the GSEs continue to pool and securitize mortgages as BHCs, but they could also originate, collect deposits, and engage in other bank activities.
http://www.urban.org/policy-centers/housing-finance-policy-center/projects/housing-finance-reform-incubator/mark-calabria-coming-full-circle-mortgage-finance
The key is the word "or", this means he has no idea what Mnuchin will do, the real power here./Calabria has no word in this decision.
Have you seen the quotation marks?
"Unlike earlier housing finance reform proposals, the Mulvaney bill does not phase out Fannie or Freddie,” wrote The Wall Street Journal in May. “Rather, it requires both companies to retain earnings to build capital until their capitalization reaches 5 percent of assets. They would be released from conservatorship when capital reaches 2.5 percent of assets.”
Not only would this reverse the existing government policy, which annually reduces the capital cushions received by each company until hitting zero in 2018, but it also cancels the requirement that the companies pay a dividend to the treasury department every fiscal quarter. The government’s shares (which the bill would cancel) have a liquidation preference of $187 billion (appropriately), but last year the GSEs only paid dividends amounting to $15.8 billion to the treasury department. Since 2012 a change to the bailout agreements required companies to pay nearly all of their profits to the treasury department, and Mulvaney’s bill would effectively nullify this as well.
http://www.salon.com/2016/12/22/donald-trumps-budget-directors-fannie-mae-and-freddy-mac-bill-would-socialize-risk-and-privatize-profit/
Because GSEs have no capital and Mark Calabria said to dismantle them and leave the trillions debt flying in the sky
@DoNotLose @MarkCalabria @AmerBanker it's obvious next payment 31st March won't take place, otherwise you are joking Mark
Mark Calabria, the chief economist for Vice President Mike Pence, warned that there "is essentially no capital today backing Fannie Mae and Freddie Mac," which rely on a line of credit with the Treasury Department if there are unexpected losses.
Disagree
@MarkCalabria says GSEs need capital. NWS removes capital and is patently the opposite of #MAGA Time to start righting the wrong #fanniegate
Talked to her, confirmed expressed wrongly
She described wrong. Means plan to recap before end cship, out of gov control as Mnuchin said.
Good call buddy
Maria Bartiromo?
My god....
Dream shorty
Is it true DOJ only says inconstitutional part is they can't fire director?
If your bet is sweep is going to stop, why own preferreds instead commons?
Although a dilution comes, commons still a better place to be than preferreds. No liquidation, no compensation.
If Sorkin had accepted the buyout from dutch company the value would be now much more than this, but he didn't accept. That's a fact.
@jerome_corsi @stevenmnuchin1 @realDonaldTrump @business @FoxNews @FannieMae @FreddieMac to request stop sweep before 31st March #fanniegate
https://twitter.com/llamas_78/status/843754763279917057
When the 5 cents are coming? Next week, month, year,.... Buyout when Sorkin accepts it?
He knows it. We got it. Congrats.