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Any info on the court’s ruling? Isn’t it suppose to be today?
Thanks Navy for all you do.
FMCC: Freddie Mac names Lance Drummond as chair.
Glad to see that He’ll fit right in:
https://www.finra.org/about/governance/finra-board-governors/lance-drummond
Has anyone mentioned Jack L making a comeback?
enablers of dysfunction …. That causes destruction.
Yep-It’s hard to undo something that the party never wanted to acknowledge. It’s been a long and agonizing hardship for Shareholders.
https://www.breitbart.com/politics/2010/05/07/barney-frank-video-tip-toeing-through-the-tulips-while-the-housing-bubble-burst/
It opened the door to this pandora box we are living with.
Cli ton admitted that He shouldn’t have push for it, but He did.
Is history repeating itself?
Wasn’t this similar to what kicked off the housing issues we saw before.
https://en.wikipedia.org/wiki/Community_Reinvestment_Act
Nope. Release them _ period.
When is next oversight televised event? Maybe this can be mentioned/discussed?
My guess is that we wait until new chairperson is selected before this moves anywhere?
What’s taking Lambert so long? Thought He had a deadline.
Can Oversight impeach Thompson?
Interesting that they’re now figuring out the FHFA have gone rogue.
That’s howI understood it - thanks for that.
FHFA needs to make the decision and end c-ship.
What is the Financial Responsibility Act of 2023?
On June 3, President Biden signed into law the Fiscal Responsibility Act of 2023 (FRA, Public Law 118-5), which suspends the limit on federal debt through January 1, 2025, and makes a number of changes that affect federal spending and revenues.Jun 9, 2023
That gave me a chuckle …
Thanks
Touché
Didn’t His wife work for some org that was/is influential? I can’t recall…
Lol
Mr C recently said it was Biden’s fault, so He should be in a happier mood.
….. there is one half of government that absolutely does not want to enrich hedge fund…
Shareholder rights have been breached-that 1/2 will need to comply and end c-ship (JMO).
He probably made money, when others didn’t.
Not about being better, it’s a higher degree of being good.
There's a very good reason why Warren Buffett fully terminated his preferred position in FNMA. You want to think you know better than him,?
Really wish I had info on Mr B meetings with Bo. Munger was part of the Admins cabinet, correct?
Never was found of Lamberth; especially his upfront dislike of the Shareholders. He should not have been allowed to preside over the second Jury trial (IMO).
Never like the Dodd-Frank fix…an attempt to make them look all knowing and honorable.
Not a problem- let us know what you think.
…My bet is that there is enough money here for private fortunes to be made to political insiders, cronies, drunk uncles, lawyers… everyone. My bet is on corrupt incentives and made even more likely that they can do so behind the guise of doing the right thing.
I respect your opinion and ability to stomach what has clearly been political vomit.
Should a breach of good faith practices, as agreed upon by a Jury help lead the charge to dismantle the current setup?
Why hasn’t the FHFA asked Congress to release the GSEs from Conservatorship? Are the not operating in a sound and consistent pattern.
Post it.
Not sure how general fund spending by Treasury is accomplished; however, they have been scrutinized for funding organizations that Congress objected to.
https://www.judicialwatch.org/former-acorn-director-gets-445-mil-from-u-s-treasury/
Maybe someone with better insight on Treasury operations can help with your question.
We could argue who, what when those who contributed to the housing collapse.
Yes, this bill will help muster a path of responsibility that no one appears to have been personally punished.
Colleagues or not, there is historical evidence on who did what and why in the aftermath of conservatorship.
I’m certain that you would agree that if there was a honest intent to ensure the GSEs were operating soundly enough to operate on their own, then they would be released.
FHFA needs the GSEs for their survival and that’s the justification for trumping the law.
If lawyers and lawmakers had access to the internal discussions (sealed docs), perhaps the GSEs would have been vindicated as the ones who cause this problem.
Here’s a read that I’ll include. Does it answers all questions? No, it only presents a narrative for the housing debacle.
https://news.yahoo.com/news/hey-barney-frank-government-did-162040717.html
Since Obama sealed documents relating to monies used by His administration, those facts aren’t available for public scrutiny.
https://www.rollingstone.com/politics/politics-news/why-is-the-obama-administration-trying-to-keep-11000-documents-sealed-67555/
Although some documents are being used, it’s my understanding that not everyone has access. What about Justice for Shareholders?
Sweeney wrote. “The court will not condone the misuse of a protective order as a shield to insulate public officials from criticism in the way they execute their public duties.”*
Why do you think there are those who are so interested in tracking spending?
https://www.congress.gov/bill/117th-congress/house-bill/24?s=1&r=5#:~:text=H.R.,Congress.gov%20%7C%20Library%20of%20Congress
Before lashing out, be polite and ask someone for help.
I don’t know why you are so ardent in defending this administration.
Summary - They knew the issue and purposefully = at first = took actions to avoid holding and adding and showing the GSE Debt. Gov was unfriendly but its actions fit some logic box
The buck may have stopped here, but did our troubles manifest at the same location?
https://www.britannica.com/biography/Timothy-Geithner
Unless there is another 2008-type crisis to serve as a smokescreen.
This administration is trying to implement as many social programs as possible, while in the meantime, pumping more monies (untraceable) to foreign projects / programs. In essence, making it difficult to repair without taxing every to the max. I fear that it’s an unavoidable situation-especially, if this war isn’t contained.
Why not a simple law that no shares can be borrowed while company is in conservatorship.
So the crucial question is what is more important: the welfare of the legacy shareholders or the welfare of the two companies? The government will certainly argue for the second (also out of self-interest, because there will be $20 billion more for them in a SPS conversion, compared with warrants exercise alone).
It’s been proven that the government (FHFA) has and will continue to self deal. With that, FHFA can no longer be trusted to make the right decisions regarding an exit from c-ship and the future of the GSE Shareholders. They simply, like the fellow travelers, are rogue.
The deal was made with Treasury was wrong and the Supreme Court got it wrong (IMO). FHFA have been fabricating misinformation to make their own case. How? By roiling on the coattails of those who trumped the law without regard to shareholder’s rights to a share of profits for the last 15 years.
I like the way you think.
A conversion is akin to the poison pill; however, it not only harms the shareholders, it harms a taxpayer/shareholder entity.
It they went this route, I believe chaos to the housing would ensue. Best to buy back the outstanding shares at a fair market price and let Congress re-charter the the twins.
Bravo to you.
How many years wasted when courts rejected our requests (suits) by stating that Shareholders had no standing.
Big deceitful mistake: also, a big waste of taxpayers and shareholders money.
‘Unless you are willing to share your 100% accurate crystal ball with the rest of the class, you need to sit back down.
Nope, it doesn't work that way at all. Don't fall into the sophistry bullshit trap of thinking that since nobody can fully know the future, all attempts at prediction are equally useless. By that logic all of science is bunk because no theory can ever predict something with 100% certainty’