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Offer any proof that Mnuchin is doing anything to benefit F&F shareholders. My bet is that he's sitting on his hands!
Like me, I think you believe he's doing little to nothing also.
The poster who said "same circus, different clowns" nailed it!
All good questions here. I believe Trump found out he couldn't pull the plug on Obamacare because it was significantly being supported by ill-gotten funds from Fannie and Freddie and would put too many of the poor on the streets without medical care. That wouldn't sit well with the electorate, and the Democrats would have a field day.
Meanwhile, the maligned shareholders of Freddie and Fannie have been forced, in indentured servitude, to foot the bill for the subsidies to the insurance companies.....a pathetic way for this government to support its citizens.
I think the "mother" of all class action lawsuits is waiting in the wings to be sprung on the U.S. Government for its behavior in this scandal.......and rightly so.
Every day that passes, I become increasingly more convinced that Mnuchin hadn't a clue about the job of Treasury Secretary when sworn in. He does nothing since that time except flap his gums and blow hot air. Any work he needs to be doing in regards to Fannie and Freddie is finalizing the details to remove them from conservatorship. Stopping the NWS is a "no-brainer" and should have been accomplished in his first 15 minutes on the job; if he truly wanted to stop some of the illegalities. Can we surmise, from his inaction, that he has no brain or does he have that much disregard for shareholders and the rule of law? He has done nothing but allow shareholders to languish in captivity by a nationalization of the firms they own; receiving no benefits of their enormous profits for more than 4 years, and not allowing their voices to be heard by the continued suspension of their rights as equity holders. No need to knoc the lawn jockey, Watts, the minion Mnuchin is not one iota better.
Overbearing DICTATORS do NWSs because of nationalization of private concerns. Didn't know you lived in that type of country, did you?
I'm qualified.....and the GSEs don't need any DAMN reform. The few corrections needed in their policies took place during the period 2008-2012.
"To be honest with you, I do not expect that the government would refund profit, although illegally taking from shareholders. They have millions of excuses for not doing so."
Shareholders have something called the Constitution that is suppose to protect our interests in such matters. I don't know if it still is of any value anymore but it will come into play, and we will find out.
Very well stated bcde! The money doesn't go into a vault and the moment it goes into the vault, becomes invisible. We can probably learn where every penny went......and unfortunately, continues to go.
"You'd think that would be enough to open up an investigation to really make Watergate look like missing cookies from the jar ."
In a just and lawful United States of America, it would happen. With a change in administrations, I hoped that matter would be taken care of swiftly. However, all I'm seeing to date is talk, talk, and more talk. NO action has taken place and until it does, all of those with opinions, in and out of government, are a bunch of blowhards with no respect for justice.
Yep, he's a smug little prick as is his comrade he mentioned (Crapo). These two need to be crushed along with all the other cockroaches. If you let one survive, you will soon be overrun!
You can if you can find a brokerage to do so. Can you find one? I don't know! But what does it matter? It's not like you'll find those shares in a closeout bin or something of that nature.
"According to FINRA- FNMAS is currently halted for a Code U3 or "Extraordinary Events"
Wish you had not even posted this statement because these knuckleheads here will spin it to death as to why.
In the scandal (and it was a scandal) both Fannie and Freddie were thought to eventually do the belly-flop and the TBTF banks would be the beneficiaries of their businesses. When it looked like the old belly-flop wasn't going to happen, the NWS was concocted to make sure it would happen by draining them dry of capital. But, even the NWS hasn't been overly effective in cutting out the lights. Unless there is another "bad paper" crisis, Fannie and Freddie can be profitable forever, even while dragging the government interference boat anchors.
Those hollering "reform now" know they needed little or minor reform before the crisis (which had taken place by 2012) and sure as heck need NO reform now other than elimination of government meddling. All equity holders are battling now are those people that don't want smart, shrewd investing to reap any rewards.
Now you're getting it.......all fluff so far and no substance!
What value do you attach to a reporter who only knows half the story?
In the pursuit of truth, a half-assed effort can be very detrimental to the intended goal.
Still............as of this date, nothing but hot air. The NWS did not end and continues, the conservatorship steams full speed ahead, even after years of prosperity by both entities, and, periodically, politicians who should be shot, drawn, and quartered, continue to get a bit of air time on the news to prevent these matters being settled.
The actions of this government, past and present, reek of criminal intent when inactivity to correct obvious and unlawful acts is allowed to continue under veiled promises to make corrections.
""Eventually we will get to it"
(Eventually we will all die)
Which will come first?
FOIA reversal in regards to F&F is the skeleton key to the treasure chest of political corruption surrounding the GSEs. The government has fought tooth and nail to keep this info away from the public......and it's got nothing to do with national security and other lame excuses!
The NWS money belongs to F&F anyway because it is/was ill-gotten gains from a nationalization of the privately held corporations.
As I see it, no action, just more hot air!
"Maybe Donald Trump has called all the Senators to the White House to advise them all that Fanniegate is Over---and they've all been exposed as being complicit--and let's watch the fireworks"
Bet 'ya it would be closer to 100 than to 0!
You're right Blue.....it could happen any decade now!
To be remembered:
MBA = snakes in the grass
Right whipstick. It would be interesting to know how many of the sitting members of Congress are up to their eyeballs in this F&F mess....either in plain view or in the shadows.
It's because he doesn't know his ass from a hole in the ground.
It will be interesting to see who's squirming and who's not in getting this bill passed.
I'm just amazed by people claiming to own stock in Fannie Mae and Freddie Mac yet who are okay with the NWS and the exercising of the warrants. To those people I say we can get you some help. Giving away your possessions will eventually have you living in a junk car down by the river, not the penthouse most desire. What has happened here was a conspiracy so, at the very least, all ill-gotten gains have to go back to the rightful owners.
People have laughed at patswil for the predictions made but I believe they were closer to correct than to error. Both Fannie and Freddie are really performing now and those performances are much better than they were in, say, 2006 when share prices were well up in the double digits. Your $23-47, in my opinion, would be selling yourself a very early out for a stock that's probably a $100 stock.
"that would be great, Mel is useless and it just trying to hide on a government payroll the best I can see. Mel didnt care about illegal sweep, or that it was making the very thing he was supposed to protect against weaker and more prone to taxpayer burden, or else it would have been stopped. The swamp would be a lot lower if he and a handful of others were gone."
I believe I read that FHFA has 650 useless deadbeats on the payroll, and all that happened since its2008 inception. Imagine the savings just for sending Watt and this useless assemblage packing?
Do you think $40,000 was a fair price for 4 billion shares? Do you think any shareholder not determined to be deceased would agree to such a ludicrous, insulting price?
The warrants were a security item in case of failure; known in the real world as collateral. The money was repaid (in the real world) so the warrants are returned to Fannie and Freddie and become void.
Neither Fannie nor Freddie need any damn reform, reform, reform in 2017. The reform they needed was already accomplished by 2012, or more commonly associated with the time they once again became profitable. The ones crying reform have ulterior motives, and you can take that to the TBTF banks!
Very well stated.....used like a prostitute until too old to turn tricks.
HR 1694 is a great bill but let's see what the scoundrels in the House do with it. I hope Chaffetz insists it doesn't get lost in the shuffle.
Any reform needed by Fannie and Freddie had been accomplished 2008-2012. After that 2012 date, both were streamlined and ready to go.
Government meddling is what caused the problem in the first place and the TBTF banks were more than happy to oblige the government's desire to put everyone in a house no matter what.
Just as I have suspected.....Mnuchin hasn't done a thing since the swearing-in except flap his gums. This talk of "reform" speaks volumes too. They are going to screw with Fannie and Freddie and end up catering to the TBTF banks/lenders. You remember them, they are the ones to blame for the problems Fannie and Freddie currently experience. Equity holders will not be made whole as they should be.
So that minds will be at ease over the weekend, no one whose actions can do something for the equity holders of Fannie and Freddie gives a damn about Fannie and Freddie. End of story.
"60 page white paper by the MBA on GSE reform"
At retail, this sort of white paper referred to as TOILET TISSUE.
I expect nothing to benefit shareholders from Trump's 2:45 and 3:05 meetings. That way, I won't be disappointed like so many of you will be.
"Has anyone been listening to Munchin?"
Hell no.....most know he is a dunce!
But have you noticed that with some of these people, the fact that certain people might reap a economic windfall seems to be more important than the stability of the housing/mortgage markets?
Today's Headlines:
General Motors says Venezuela illegally seizes auto plant.
2008 Headlines:
Shareholders say the United States of America illegally seizes
Fannie Mae and Freddie Mac.
Stevens represents some of the scoundrels who put Fannie and Freddie in the mess they currently find themselves. Also, Stevens has never done enough DD to find the base reason of what happened in the beginning of the conservatorship to allow any viability of his opinion. That said, his opinion is about as valuable as that of Corker.