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Thanks
Are you talking about his radio interview? I just woke up so I am just finding out about the interview. Who has info about it?
There are so many levels of sarcasm in that post that I find myself somewhat wary that you are not sincere.
I posted that news at 2:34 in post 187405. I just copied and pasted and that is how it came out. I guess it didn't grab peoples attention.
Oh hell that was more intense than boar hunting with a bowie knife. I hope it is over for now and we start climbing back up. I got burned bad on fmcc today. The bright side is that I now am a gold member on your list D. I bought on the crash and now own over 50,000 shares that I bought below $5.00. Bump me to gold status on the FNF express roller coaster. I will continue to hold long but OUCH.
fnf on cnbc now.
Maybe after this recovers in a couple months senator Iambought will announce another proposal to try to sink fnf. At least now I know the game. FNF long
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Sen. Toomey Opposes Fannie Mae, Freddie Mac Third Amendment
by Jacob WolinskyMarch 11, 2014, 2:13 pm
Senator Toomey asks some pointed questions in an examination of the GSEs Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)
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Senator Patrick Toomey urges “fair treatment of investors” as he outlines some key questions in the ongoing Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) saga in an email set to ValueWalk. Below are comments from the senator just made.
Sen. Toomey’s opposition to the Third Amendment, which Crapo Johnson would codify.
Sen. Toomey”any proposal needs to address third amendment and fair treatment of investors”
Fannie Mae Freddie Mac FHFA Federal National Mortgage Assctn Fnni Me (FNMA)
Fannie Mae
To: The Honorable Jacob Lew Community banks, retirement funds and other investors have all reached out to me to express their concern and even outrage about the unprecedented ³sweep² that takes all of the GSEs¹ profits and gives them to the government.
Mr. Secretary, you have emphasized repeatedly the importance of returning private sector capital to the housing finance market. However, the government¹s actions with respect to the GSEs¹ profits raise serious concerns, including whether these actions lawfully respect the rights and interests of all Americans. As we can both agree, our nation is the most attractive place in the world to invest partly because of our commitment to the rule of law.
While I strongly support GSE reform that protects taxpayers, such efforts should also be mindful of investors in addition to other considerations. Taxpayers should be fully compensated, but once they are, investors, such as the York County pension fund in Pennsylvania, should not be denied their fair share of any remaining value.
What comfort can you give to private sector investors considering investing in the future of the housing finance system when they believe that the government arbitrarily changed the rules of the game mid-stream with the Third Amendment?
Treasury’s stake in Fannie Mae and Freddie Mac
Based on the terms of the conservatorship, Treasury¹s stake in Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) is 79.9 percent. Has Treasury done any analysis of the value of its 80 percent equity stake in the absence of a Third Amendment? Did it value its stake prior to adopting the Third Amendment?
Do you believe that Treasury owns a 100 percent economic interest in the GSEs? If that is Treasury¹s view, why have Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) not been consolidated on the Federal balance sheet?
? Tags:fannie mae freddie mac investors Sen. Toomey
Hell no your not too late. I bought 14,000 more shares this morning at 5.74. FNF will be in double digits soon imo.
37 mil. volume so far Freddie keeping pace.
HAHAHA I will see you at the toast. Not selling. Waiting for dividends. Oh that would be the cherry on top.
Not getting mine either. that last drop filled the rest of my order from this morning.
I think the most important sentence in the whole article is the one that states the obvious. (an uphill battle). Most people already feel it is a losing battle. The article is just more confirmation of what I already felt.
Thank you all for your DD and the supportive posts. This is a great board and several have helped me by posting links and insight. I don't know that I could have held those aamrq shares without all of your help and support. A special thank you to Detearing. Yes I am kissing ass.
congrats congrats congrats !!! I know it's such a nice feeling.
Yea it works for me brother.
Detearing, Fidelity just posted my latest distribution. WOW!!!
I am locked and loaded for building a larger position in that other stock.
YOU ARE THE MAN
I am not in construction so this is JUST A QUESTION. Can they bring in the equipment and supplies to mix the concrete on sight I have seen this done on highway projects?
HaHa I am on the list. Bought some fmcc today to compliment my fnma and I will buy more tomorrow or Wednesday when I get my lollipops. PPS at this point does not matter to me. I am keeping my eyes on the restoration prize.
Ok,I know that fnma has more outstanding shares than fmcc. Other than that is there a reason to own one over the other? Is it better to own both? I will be able to buy more this week but I don't know which to buy. I already have a substantial investment in fnma (relatively speaking) and none of the other. I guess if I buy fnma I can get into Detearing's long list GOLD CLUB !!!
AH, Christmas in March. Just like one of my kids I woke up early waiting to see what Santa left me but it looks like I have to wait on Santa. Oh well he never has disappointed me yet.
Could you send a link to your source for that last post? Thanks
Hey I copied and pasted this article from the link on the fnma board. It is the complete article. For those with big brass ones. The Greek and Russian stocks pretty risky.
4 Companies With Political Risks and Major Upside
By Alexander MacLennan | More Articles
March 7, 2014 | Comments (0)
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For the most part, shareholder-owned corporations are allowed to run operations for themselves within the parameters of certain regulations. But not every publicly traded company falls into this category, with some experiencing significantly more government involvement in corporate decision making. Here, I'll look at four examples of shareholder -owned corporations where the government has a greater role than just as a regulatory body.
Mortgage giants
As the name implies, government sponsored entities (GSEs) have a relationship with the government that is more than the standard private corporation-to-government relationship. But after the financial crisis of 2008 and some changes to the financing terms in 2012, Fannie Mae (NASDAQOTCBB: FNMA ) and Freddie Mac (NASDAQOTCBB: FMCC ) are more in government control than almost any other shareholder-owned corporation.
After the set of GSE earnings, the U.S. government has recouped its full investment in the bailouts of Fannie Mae and Freddie Mac. In all fairness, the government does deserve some additional returns for taking the risk and supplying the capital as any other money lending corporation would expect had a private-sector company been willing (or even able) to supply the capital necessary to sustain the GSEs.
But the current arrangement with the government is even better for Uncle Sam. Even after returning all the funds lent by the government, Fannie and Freddie owe just as much money as they did before. This is due to an amendment put in place in 2012 that called for the sweeping of all excess profits of the GSEs into the Treasury without reducing the outstanding preferred stock owned by the Treasury. In effect, Fannie and Freddie shareholders cannot access any of the profits and, unless things change, will never be able to do so in the future.
Owners of Fannie and Freddie common and preferred stock are challenging the legality of the Sweep Amendment in court. Among those challenging the government are Bruce Berkowitz, manager of the Fairholme Fund, and Richard Perry, manager of Perry Capital. If these lawsuits are successful, Fannie and Freddie shares have the potential to increase 10 to 15 times based on both my analysis, and that of the far more recognized Bill Ackman, manager of Pershing Square.
Power to Greece
At first glance, Greece seems like the last place anyone would want to put money. Between high unemployment and ongoing government debt issues, Greece looks like the place that will balance out your capital gains. But sometimes, the most hated investments are the most profitable, and its hard to find a company more tied to both Greece and its government than Public Power Corporation.
As Greece's largest energy producer operating mines, power plants, and transmission lines, Public Power Corporation is essentially the Greek power monopoly. But this monopoly comes at a cost. The Corporation is also 51% owned by the Greek government, allowing the government to use it for promoting social and economic policy instead of seeking out maximum shareholder returns.
Upside comes from this company through two main ways. The first is a possible privatization plan. Most likely, the government would keep a minority stake, but the sale would allow the Corporation to seek out greater profits without as much focus on the effects of its policies on non-shareholders. The second way comes from an economic recovery in Greece, which would allow more electric bills to be paid, and increase total power consumption.
To buy shares of Public Power Corporation, investors will need an account allowing them to access the Frankfurt Stock Exchange or the Athens Stock Exchange.
Energy giant
Few companies have received as much increased name recognition in the past couple weeks as Gazprom (NASDAQOTH: OGZPY ) . Unfortunately, it's not the good kind of name recognition. Gazprom is the largest energy producer in Russia, and exports oil and natural gas to Europe.
Right now, the company is at the center of the Ukrainian crisis, as it's both majority controlled by the Russian government, and supplies the commodities that western powers are threatening to put sanctions on.
As a result, fear has set in around the company. The biggest risk here is political rather than financial. It's unlikely that any giant earning as much as Gazprom would just collapse, but the Russian government could take steps that would significantly reduce the value of privately held Gazprom shares.
I view the Ukrainian crisis as an opportunity to acquire Gazprom shares at a bargain basement multiple, and begin collecting a dividend. However, anyone interested in Gazprom needs to know that they are dealing with financial, as well as political, risks.
Government discount
All four of these companies are out of favor with the investment community due to high levels of direct government involvement in their businesses. As a result, investors willing to accept these political risks can acquire otherwise strong companies at major discounts.
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Obit, you are like my personal investment strategist. I would have to think about today for the rest of the weekend before I could figure out what you just whipped off the top of your head after closing. Keep them coming and thank you.
I am just staying put holding long. The cornerstones being built by this company will set up all of us in the future.
You all knew this would happen. None of it matters if you are long. All the games will end toward the end of day and we will be green. Same old story. Nobody wants to be on the sidelines through the weekend. Nobody wants to get left on the launch pad getting burned by this rockets blast off. The launch sequence has begun. HAHA so many metaphors.
I like the pull back and test of yesterday's close. Gaps get filled and less chance of a big drop later on. less chance of a mm instigated bear run. Just keep bouncing off of yesterday's close and end the day green.
STOCKPROFITTER, keep us posted from time to time with those flashing numbers. every little thing helps a long share holder to not weaken. Thanks
USMCVET, thanks for the perspective. I had not given it much thought. I just thought that squabbling over something like that at this point is a waste of energy. What you are saying makes sense and gives me a reason to actually give a sh**, STRATEGY. I guess the rich don't get richer because they are dummies. I am just holding tight and riding those coat tails.
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Congrats to alll !!!
I am having no problem holding. It might retrace some but 2 years from now who will care !
Haha it's going to cost me a lot more to buy next week when I have the $$.
detearing I have 38,800 shares and adding next week when I get my lolipops
I hope we don't get huge gappage. I really am impressed with our steady march upward. Gaps are filling easily. Sort of a tortoise vs. Hare philosophy but I have to admit this tortoise has a hemi under the hood. It probably is a sleeper with a nitrous bottle.
That video is so funny and yet such a good visual analogy that it is actually disturbing at the same time. At least the Nazis lose.
I think that the article from Jim Cramer's The Street was the catalyst for yesterdays turn around. There will probably be more upward movement because Cramer has a big following and most people probably didn't read the article until last night. Was there a video? I will just add that yesterday was a glaring example of how these stocks can reverse without notice and how important to hold and buy on dips. add to your core. That article proved to a lot of people that FITX is legit and well you saw what happened. FITX LONG!
What a great opportunity we had this morning. I never thought that I would get more shares that cheap. I hope the rest of you longs were able to load up.
Is OTC trading down?