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One of these years ... I tell ya
??LIKE :)
Are we there yet I'm getting old :)?
Make Fannie Mae Gate Again !
What happens to his shares when he takes office ?
Trump or Hillary for FNMA?
Why Watt, why now, what is up ?
Gmornin FNMA !!!!! :)
11/1/11
"I hear your complaints," Bloomberg said. "Some of them are totally unfounded. It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp. Now, I'm not saying I'm sure that was terrible policy, because a lot of those people who got homes still have them and they wouldn't have gotten them without that.
"But they were the ones who pushed Fannie and Freddie to make a bunch of loans that were imprudent, if you will. They were the ones that pushed the banks to loan to everybody. And now we want to go vilify the banks because it's one target, it's easy to blame them and Congress certainly isn't going to blame themselves. At the same time, Congress is trying to pressure banks to loosen their lending standards to make more loans. This is exactly the same speech they criticized them for."
Congress did urge banks early on to expand into mortgage markets that were previously deemed unacceptable. But only a small percentage of really bad loans were made under the Community Reinvestment Act. Fannie and Freddie were terrible businesses with poor accounting skills, and they invested a lot of their money in crappy securities. But their share of risky new securitizations was considerably less than that of the private banks as the as the bubble went on. They were not the drivers of the crisis.
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If you're going to blame the government, you can always do that, but not in the way Bloomberg thinks: You can blame them for allowing the big banks to do the awful things they wanted to do! To pick one example out of many, let's look at this episode involving the SEC in April, 2004:
SPONSORED
On that bright spring afternoon, the five members of the Securities and Exchange Commission met in a basement hearing room to consider an urgent plea by the big investment banks.
They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments.
The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.
So here we have the five big investment banks pushing the SEC to waive leverage requirements on all things mortgage-related. The SEC agreed to it, because the SEC sucks. But it was the five big investment banks who wanted and were lobbying for this, and then screwed everything up after they got it! So it seems like the big banks, and the business strategies they agitated for, to make lots of money, were the problem.
But what's the point of getting mad at Michael Bloomberg? He's the mayor of New York City, and his prerogative is going to be to protect his city's major industries from any sort of downsizing at the hands of federal regulators, even if it might put the nation on a more sustainable course.
http://gawker.com/5855371/michael-bloomberg-it-was-not-the-banks-that-created-the-mortgage-crisis
What doesn't kill you makes you richer :)
Go listen to the news :)
Bill Ackman's latest wager: Bloomberg for president
http://www.usatoday.com/story/money/2015/10/06/bill-ackmans-latest-wager-bloomberg-president/73475012/
Who is the best candidate for president for our cause ? If it goes that long :/
Happy New Year !
Vegas Baby 2016 .....:)
"There is some shady stuff STILL going on "
THE BIG SHORT
This Friday
http://m.imdb.com/title/tt1596363/
:)
Perfect :)
One of these days Alice......Bang Zoooooooooooom!!!!!!
No Guts No Glory !!!
Let's go FANNIE MAE !!!!!!!!!!!!!!!!
2 words ... Vegas .. Baby !
Lol my exact thoughts .....PLEASE ! :)
Position
Feel like just before Ackman disclosed his po
Corker cold be Carneys secretary when this is all over ! :)
Maybe another senator will step up and talk about going long and buying stock in FNMA.
Or maybe Janet Yellen will post a snap shot of her Scott trade account showing her shares of Fannie and blow this thing wide open.
Maybe Corker will will be left with only to release a sex tape because he has nothing left . Lol
Bwaaaaaahahahahahhahahahahhaha
Good mornnnnnnnin fannnnnnnnie maaaeeeee ! :)
Smacka DAT ask ... Do it ! :)
Gooooooooood Mornnnnnnnnnnnnig Fannnnnnnnie Maeeeeeeeeee !!!!!!!!
:)
Thanks !
God ...are we there yet ........:)
The man, the myth, the legend :)
ATDF ? What's going on there,looks unusual ?
LETS GO FANNNNNNNNNNIE !
...........................:)
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I'm ready for you .... Come Home !
Have a great weekend everyone !!!
LIKE :)
True, I do like their concern though.
If Cooker is up worrying at night about Obama cashing in for all the glory, then it can happen at any moment .
So tired of Corker....... so so tired
It's funny I never hear much talk about this :
HEDGE FUNDS | I.P.O./OFFERINGS
Ackman Fund Raises More Than $3 Billion in Amsterdam I.P.O.
LONDON – William A. Ackman said Wednesday that one of his funds had raised more than $3 billion in an initial public offering ahead of its listing in Amsterdam this month.
The fund, Pershing Square Holdings, will give Mr. Ackman a permanent pool of capital to make bigger, bolder bets after years of tussling with corporate titans in the United States.
Pershing Square Holdings raised $2.73 billion through its I.P.O. and could raise another $272 million if an overallotment of shares is fully exercised. The offering price was $25 a share, valuing the fund at $6.2 billion.
The fund also raised $212.5 million from existing investors who exchanged their investments from another Ackman fund for shares. Members of the management team at Pershing Square Capital Management, Mr. Ackman’s firm, also bought an additional $129 million in shares.
Mr. Ackman visited London this year to drum up support for the fund among European investors and, at one point, had considered listing the fund there, before settling on Amsterdam.
“The completion of the offering of Pershing Square Holdings is
a seminal event in the history of the firm,” Mr. Ackman said in a news release on Wednesday.
Mr. Ackman confirmed plans for the I.P.O. in September.
Pershing Square Holdings is expected to begin trading on Euronext Amsterdam on Oct. 13. It was started in 2012 and invests alongside other funds managed by Pershing Square Capital Management, which primarily focuses on North American large-cap issuers.
Anne Farlow will serve as chairwoman of Pershing Square Holdings.
It will be separate from Pershing Square Capital Management, which has about $14.1 billion in assets under management.
By publicly listing Pershing Square Holdings, Mr. Ackman, an activist investor, will have access to a permanent pool of capital that is not subject to investor redemptions, like his other Pershing funds are. If investors are unhappy with the strategy, they can simply sell their shares.
By having access to a more permanent pool of capital, Mr. Ackman will potentially be able to make bigger bets on companies, such as his recent $53 billion bid with Valeant Pharmaceuticals for the Botox manufacturer Allergan.
UBS and Deutsche Bank acted as underwriters on the offering.
http://dealbook.nytimes.com/2014/10/01/ackman-fund-raises-more-than-3-billion-in-amsterdam-i-p-o/?_r=0
Got ya ! Thanks :)$$$
They can't pull an AIG on us can they ?
You win but no harm no foul you did not own the shares then ?
Any input would be greatly appreciated .
Thanks in advance :)
I'm growing old with this thing ..... Oh well !!!!!!
:) Have a great weekend everyone !!