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A note on the petition drive......I remember reading that Fannie Mae had 14,000 shareholders sometime in the past and can't tell you the source of that information. If that number is still ballpark, it's going to be difficult to get 100,000 signatures.
Isn't fiduciary failure = neglect of duty?
Buffett's approval only means that he's found another loophole! LOL!
During Obama's two terms, there never was any intent to straighten out Fannie Mae and Freddie Mac. The disgusting liberal factions were exerting their will on the public (to include Fannie Mae and Freddie Mac shareholders)and to follow a master plan of weakening the GSEs and diverting their businesses to the banking/lending industries. As optimistic as the shareholders have been, it never was going to happen to their satisfaction of seeing release from the grasp of the government and its crooked politicians.
At 11 AM this morning, the business of fixing Fannie Mae and Freddie Mac's dilemma REALLY begins. I hope the action is swift and decisive because the law of the land is on the side of the equity holders; despite the efforts of the government's legal eagles. There should be no rest until the perpetrators have received their just punishment and long suffering equity holders have been made whole. No rest!
Geezzz stockman1010101, give it a rest! I'll give Senator Roberts a call and see if he has a spare Valium for you; just like the one he offered to Senator Wyden.
The Mnuchin hearing was as expected.....just a bunch of blowhards grandstanding, in varying degrees, from both sides of the aisle.
Mnuchin did a good job being vague which leads me to believe that he was admirably coached and knew what to expect from each member of the committee.
It would have looked better on Hatch had he known how to pronounce the name of the candidate and for Crapo to know that receivership and conservatorship are not to be substituted.
The Democrats basically made fools of themselves when it was time to crawl up on the soapbox. Nothing more needs to be said.
One thing that does annoy me is the facial gyrations that Mnuchin has when under pressure. I found myself watching the head bob and lip twitch far more than hearing some of his answers. He might need to have that looked at by a doctor.
Otherwise, the hearing went well and I expect him to be confirmed. Then he can do what really needs to be done without prostituting himself to the likes of Warner, Wyden, and that ilk.
I've been watching the confirmation hearing and my television has reverted back to the 1600s and I'm seeing the Salem Witch Trials!
All of the Democrats are not idiots buy Wyden and Brown have displayed their utter stupidity. Best moment so far was Sen. Roberts putting Wyden in his place with the Valium comment.
No F&F comments yet.
Who on this list.......
Sens. Bob Menendez, D-NJ; Cory Booker, D-NJ; Elizabeth Warren, D-Mass; Debbie Stabenow, D-Mich; Richard Blumenthal, D-Conn; Tammy Baldwin, D-Wisc; Al Franken, D-Minn; Edward Markey, D-Mass; Chris Van Hollen, D-Md; Richard Durbin, D-Ill.; Maizie Hirono, D-Hawaii; Bob Casey, D-Pa; Jeff Merkley, D-Ore; Kirsten Gillibrand, D-NY; Ben Cardin, D-Md; Sherrod Brown, D-Ohio; Bernie Sanders, D-Vt; Tammy Duckworth, D-Ill; Diane Feinstein, D-Calif; Chris Murphy, D-Conn; Gary Peters, D-Mich; Maggie Hassan, D-NH; Patty Murray, D-Wash; Sheldon Whitehouse, D-RI; and Jeanne Shaheen, D-NH.
.......has actually worked in the financial services industry or knows more about the world of finance than Mnuchin?
What this list represents is the toxic cesspool in the Senate of the United States. When you drain the swamp, this is the garbage you find lying on the bottom.
Yeah.....along with two lynchings!
You are exactly correct in calling the charade a dog and pony show.
The Democrats will flex their weak muscles by bringing up OneWest where Mnuchin and staff foreclosed on people who would not pay their mortgages. Don't ALL lenders do that? Of course they do so next complaint!
Even today, people are still tossing about the word REFORM when speaking of Fannie Mae and Freddie Mac. Both entities have learned their lessons about the areas where they did need reform and have already taken those matters to hand. They dropped their standards and requirements on bad paper loans to appease Congress and they became too involved in politics with lavishness and lobbying efforts. Those problems are already remedied.
The only other order of business for Fannie Mae and Freddie Mac in the very near future is to get the government to extinguish the FHFA; a cesspool of wasteful spending and limited usefulness to the country. Fannie and Freddie can self regulate very well without some bureaucrat looking over their shoulders all the time.
It's who the sheep will follow, I suppose. Watt said Fannie and Freddie should be allowed to build capital. So tell me, what did he do to make that happen?
Watt was, essentially, a worthless Congressman for North Carolina and I expected no more from him as FHFA Director. I was not disappointed in my assessment.
Money gets the girl, not looks. Mnuchin looks like a hemorrhoid.
Nowhere in Lew's exit memo spiel does he thank Fannie and Freddie shareholders for propping up the U.S. Treasury with ill gotten proceeds from their coffers! Screw Lew and good riddance.
Several in that cadre you mentioned have slipped up over the years and used the word "windfall" when describing those that hold shares in Fannie Mae and Freddie Mac. That word speaks volumes to some in that the speakers harbor some jealousy of and animosity towards the shareholders and did not want anybody or anyone to "mop up" should Fannie and Freddie return to a profitable, unencumbered existence like they had before the seizure.
I hope that shareholders can tell them all to watch out for the train a few seconds after it has come and gone!
You are correct with the win-win scenario but the shorts, the politicians, and the media have championed the lose-lose scenario for so long, the general public has bought in to that ridiculous fairy tale. What will now happen is that there will, one day in the near future, be a share price explosion and the naysayers will be at a loss for words.......and shareholders will get the last laugh.
Keep in mind that Mnuchin's work experience is much more advanced than the people doing the questioning. All they will try to do is trip him up, along political lines, but his knowledge in the financial arena is far superior to any of the committee.
jackticker made his ludicrous post and the idiot meter pegged out on my computer. It registers activity by people who should never be heard from by the public.
I have remained patient for a long time. I believe my patience began wearing thin when the wrong doing and law breaking being exposed reached the public's ears at a deafening level. At that point, justice should have been addressed and moved swiftly. It
did not do so. In fact, to this day, nobody has been able to get swift remedies for the victims of this travesty.
The conclusion is that the present government had no intention of delivering justice for those wronged although that was its lawful duty. I can only hang my hat that the Trump administration makes us whole again.....and in quick order.
I started my F&F investments in 2005. Can you imagine how thin my patience has become with all the antics?
Look, a money waster created by Pocahontas herself. Warren's tongue looks just like that of a rattlesnake.
Apparently, the rules addressing a Writ of Mandamus do not include the word TIMELY. It's typical judicial BS that we all have learned to hate.
Also, it seems the Capuano bill is saying let's BEGIN to repay the so-called debt owed by F&F with 30 year terms. This one is likely to join the other two bills......in the waste basket.
You've been wrong so many times, I've found a way to set my clock by your price predictions. The keepers of the Navy's atomic clock have called a couple of time expressing an interest in my methodology using your incorrect predictions so the soundness of your erroneous predictions are known far and wide.
Isn't it funny that nobody seems to hear and digest the fact that Fannie and Freddie are private companies. They have been since 1969 and 1970, respectively, and that fact has been reiterated by the courts.
Yet, nobody hears..........
Rood did, indeed, leave a number of bullets in the gun. What we did learn, however, is about the stupidity at the WSJ. The goofy guy on this panel discussion was Carney's boss!
As for Maria being "dirty hot", I've determine it is her skin tone that just always makes her look like she needs a bath. But who knows, she might actually need one.
The warrants were an element of the conspiracy to send Fannie and Freddie to the cemetery. As someone previously wrote, why would Fannie and Freddie sell a $100 bill for 10¢? Shareholders certainly wouldn't have done anything that outrageously stupid. Besides, they could have gotten backstop money from sources other than the government but were not afforded that opportunity. They needed some money back in 2008 but were NOT living in an old car down by the river.
The 79.9% figure was by design as was all this spiraling down of the GSEs until they no longer existed. Remember, the shots were being called by crooks, plain and simple with an objective in mind.
Breitbart will be the who gets shocked! LOL!
What you allude to is term limits. Problems is the vermin you want gone from Washington are the ones that have to write, submit, and vote on the bill.
They will NEVER vote themselves out of a job; especially one where they can wield power and become rich. Any exterminator will tell you that cockroaches are extremely hard to exterminate!
Gizmo,
Click on the link in the previous message to yours and there you will find the law firm and its telephone number. Give them a call.
Before doing so, check your brokerage account. Mine was deposited there in the cash account.
Much like the old "there goes the neighborhood" metaphor, with the hiring of Carney, "there goes Breitbart News!"
You kids actually listen to that noise, huh?
What's needed more than experience now is some leadership who actually possess a brain and who can think on their feet. We've had eight years of zombies trying to run segments of government who have proven to be clueless. But what did the public expect? They elected a president who had no experience at anything other than running his mouth.
There is a general reluctance to enforce the laws of the land with this assemblage of Obama appointees. Even if Bradford had glaring evidence of fraud, and I'm sure he does, the shysters in charge would have a way for it to get lost in the muddle.
How the American public allowed this country to reach the edge of the abyss without so much as a whimper is beyond comprehension.
Fully agree!
I never could figure it out though....someone from Fannie or Freddie must have wee weed in Carney's cornflakes to elicit such vile op eds.
The overpaid funds belong to F&F shareholders anyway so I put no credence in them saying they are giving back something that belongs to us all along.
What's your thoughts on the government taking 79.9% of corporations with enterprise values of $5+ trillion for a measly $189 billion and without the approval of the owners? That would be the deal, not of the century, but of the history of the World! It has come to light after all these years that F&F didn't need nearly as much as they were "required" to borrow and were never allowed to even consider borrowing from outside the government......something they could easily have done.
Bottom line, the government shouldn't benefit from something I believe was clearly a conspiracy and whose basis in centered on unlawful acts. Those documents the Obama administration clearly wants hidden will explain it all. It stinks to high heaven.
I believe I saw that his confirmation hearing would be the week of the 26th.
"Howard also notes the government stands to gain by freeing Fannie and Freddie: Trump's Treasury will inherit warrants for nearly 80 percent of the agencies' common stock. If they prosper, the U.S. can sell at fat profits."
And to J. Timothy Howard I say NO, NO, NO!!!!! The warrants have to go just like all the other crap lest you allow the government a powder puff deal on a clearly illegal conspiracy and strong arm robbery of shareholders in both entities.
The writer of this article belongs firmly in the camp of the liberals. Everybody can't afford a house and the larger the crack in the door of home ownership is made, the more taxpayers will end up holding the bag so these people can call themselves homeowners.
If you can't afford a home....rent, if you can't afford to rent,
I guess you can become a burden on me in public housing. As a taxpayer,I'm going to insist that you get booted at first opportunity.