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$1 billion being offered by Quicken Loans, the Detroit-based mortgage lender, with the backing of Warren E. Buffett’s Berkshire Hathaway
http://dealbook.nytimes.com/2014/01/21/1-billion-for-a-perfect-n-c-a-a-bracket-courtesy-of-warren-buffett/?_php=true&_type=blogs&_r=0
Thank you , :)
Thank you , :)
Tomorrow is my birthday, I hope it's a good one ! :)
Ackman makes out like a bandit in Jim Beam deal.
January 13, 2014 1:02 PM
http://m1.marketwatch.com/articles/BL-MWTELLB-11618
I don't think his $344 million profit is going into money market account or a Christmas savings . Lol hahha
MY GUESS ......FANNY MAE BABY !!
A NEW SUN HAS RISEN OVER FANNY LAND !
The common people will RISE and rule once again, taking take back what is rightfully theirs .
Happy Friday People ! :))
I'm selling .......$ 100pps come and get it !
institution and want to buy in bulk I'll cut ya a deal at $99pps
Get ya Fanny here baby !!!!!!!
Wooooooo hoooooooooo !
Go FNMA
Do you think they fighting back against Wall Street law suits and headaches with this stock ?
Why the FBI thing now ?
I would like her to blow today ! ME
Yea BUDDY !
UMMMM UP :)
Hahaha hysterical !!!!!!!! It will go something like that lol
Can't wait to here WATTS statement !
SEC Clearing F&F 's good name !!
Woot Woot :)
Will he make a forward looking speech ?
The Fannie Mae word is starting to BUZZ on TV and the Erie scilemx a i
Fannie Mar , Freddie Mac too profitable to shut down .
Well before the subprime housing market crash, the companies had financial problems that included questionable accounting practices in the early 2000s. But it was the housing market crash, which precipitated the Great Recession in late 2007, that seemed to seal their fate.
Many conservatives blame Fannie and Freddie for causing the subprime bubble as they purchased questionable mortgages to meet home ownership goals set by Congress and Democratic and Republican presidential administrations.
In a sign of the unpopularity of Fannie and Freddie in Washington, the 2008 bailout was structured so that the dividend payments do not reduce the amount owed on the bailout.
Also
Mortgage tax break expires despite bipartisan support in Congress
Initial jobless claims drop slightly
SEC's Mary Jo White wants companies to fess up
The move was designed to prevent the companies from technically paying back the money and emerging again as private firms. The Treasury holds preferred shares and has the option to buy 79.9% of the common stock in both companies.
Treasury officials made the bailout even more favorable to the government in 2012, changing the terms so that Fannie and Freddie must ship all their profits to Washington instead of simply paying a 10% dividend. Remaining investors in the company responded with lawsuits.
The new terms have boosted the flow of money to the Treasury from Fannie and Freddie. But that hasn't impressed many lawmakers.
"Any investor who puts up $188 billion in the middle of a crisis should expect a lot more than a 1-to-1 return on your money before you're made whole," Warner said.
A bipartisan bill from Warner and Sen. Bob Corker (R-Tenn.) would shut down Fannie and Freddie over five years and replace them with a new government agency funded by industry fees.
The new entity would play a significantly smaller role in guaranteeing mortgage debt, leaving the heavy lifting up to the private sector. Warner said he hopes the Senate will pass the bill this year.
A Republican bill approved by the House Financial Services Committee last summer also would gradually wind down Fannie and Freddie over five years. But the bill would not replace their role with any new government mortgage guarantee.
Although there's broad consensus Fannie and Freddie should be closed as part of an overhaul of the housing finance system, the longer it takes the harder it gets, Cecala said.
"Very soon they will pay the government back everything they were bailed out or lent," he said. "That makes it very difficult to talk about closing them down."
http://www.latimes.com/business/la-fi-fannie-freddie-future-20140103,0,7476895.story?page=2&utm_medium=feed&utm_campaign=Feed%3A%20latimes%2Fbusiness%20(L.A.%20Times%20-%20Business)&utm_source=feedburner&track=rss#ixzz2pLTYMS7z
I've been waiting my whole life for this opportunity . I hope it all works out beyond our wildest dreams !
Merry Christmas and may God bless us all .
I wonder what the rush is to settle all these claims with all the banks before the new year ?
JOY TO ALL !!
Happy Thursday! Fannymen and Fannywomen :)
Are we moving today ?
Woooot wooooot !!!! :)
I really appreciate it ! Good luck with the new restaurant! My wife and I will celebrate there with our Fanny money soon ! :)
Thanks pal,
EMZ , do you have any thought on what's going on ? I always enjoy reading your posts but haven't heard from you lately.
Is this something that happens regularly on the OTC ?
Holy Moly someone tripped on the extension cord again . Must be earnings report ........nope... say WATTTT ?
WATTS UP DOC ?
Hmmmmm , Looks like all the posters were given the day off today !
So true ! Happy Thanksgiving Everyone !
WATTS you talking about Willis ?
Thanksgiving Day Special $2.71 /lb
Add me please :)
Hahahahahha
Has to FILL MY GAP @ $60 :)
TA monkey wrench :/
Who does Big B usually buy through hedge funds in particular ?
Is that this week ?