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Exactly why I hope Trump finishes up his plan now that the government is open, executes his plan this week, then hands the plan to Waters.
"Maxine Waters stinks, she will go against anything Trump is for, she should not be at all involved in anything that involves money"
Money? She shouldn't be involved with anything that requires INTELLIGENCE!
Not at all. The purpose of cship is to get rid of debt.
Are preferred safe
I have not heard that.
Why would they call back preferred? One of the purposes of a bankruptcy is to get rid of debt.
Preferred callback
I heard that Preferred could be called back at any time. is this confirmed and what you mean?
Otting said they would recap in 6 to 18 months.
FnF can buy the warrants and sell them on the open market. Interesting concept. If they did that, it could be part of the recap.
Yes, act fast before certain members of congress can react.
Better to move forward assuming there is no reason not to move forward.
Cancel the NWS immediately.
Cancel the government preferred shares.
Cancel the Warrants.
Release Feb. 1 with a plan to build capital and build slowly over time.
Uplist this year so institutional investors buy.
Recap over 2 more more years.
RIF every FHFA employee, release FnF with a recap plan before Feb 1 so that dimwit Waters has a chance to reject a plan or craft a law that says Otting can't do anything, that's my idea of fun.
Yeah, he does but wouldn't you want to screw with that dimwit Waters just a little bit? Put a little steam under that wig hat ….Good Golly Miss Molly!
Sounds like DJT has everything under control.
DJT will release 11K docs if Dems criticize 3R of GSE
The court judgment will slap on the face of Dems and fake news for any critics.
That 11K documents release will take place 3-6 months before election.
DJT will say that he fixed the GSE problem which no one can do for 10 years and got Billions for taxpayers and wall too instead of having taxpayers hooked for $400B. If Dems want to nationalize GSE then they can pass $400B nationalization plan
Watt did not report to Trump, so Trump couldn't fire him.
FHFA was structured as an independent agency with the Director not reporting to anyone no matter what Maxine Waters thinks.
In hindsight, Trump should have fired Watt during the second year after taking office and put Otting and Calabria in their offices and came up with a fix (release) right after that. Republicans were the majority in the Congress during the first two years, and Trump would not have to deal with Maxim Waters at all.
Otting will do something Waters did not count on lol
Only Thing Otting Will Tell Those Crooks Is To Go To Hell.
He May Execute The Plan Before Their Hearing!
Would be nice to see the plan in advance to make sure the stock pick is the right one lol
She wants his plans no later than Feb. 1st he has a lot of work to do next week, LOL
Waters and Brown should read the 2019 Federal Budget.
There's no money in there for FHFA.
Get rid of FHFA, merge the companies into different entities.
No need to worry about a charter because the original FnF do not exist.
With no FHFA, there's no conservator. They've been saying regulator for over a year.
Waters and Brown Tell Otting to Show Them the Plan
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401734
Waters and Brown Tell Otting to Show Them the Plan
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=401734
Otting said they will offer a plan within weeks and that's what I expect to happen.
Anyone think they are offering a plan within weeks due to them facing heat from the law suits? In other words end all this crap in the courts and go with the release?
None on the federal level any time soon. They will be furloughed February 1.
https://www.politico.com/story/2019/01/22/federal-courts-government-shutdown-1119974
How many Judges will hear this ?
Otting is absolutely reversing Watt/Obama policy.
Big times ahead.
BooM! Otting Is Reversing Watt’s and Obama’s Position.
www.glenbradford.com/wp-content/uploads/2019/01/18-2506-4747217.pdf
Huge value increase for common shares.
Preferred shares have limited upside potential.
So no warrants equals huge $ value increase to shares.
So no more 80/20? We have 100% now? Really
They will not exercise the warrants.
Anyone else think they dont exxercise the warrants? How do they simotaneously say FHFA is unconstitional and then excercise the warrants?
Fantastic post Chess
It looks like FNMAS is one of the preferreds in that "libor catch 22" category. This is another good reason to favor the commons over the preferreds: Interest rate risk. If they end libor when interest rates are at or near zero, the interest rate for dividends could be only 1 or 2 percent. That low dividend rate would drive the pps down..no one would deliberatly want to buy a "dividend" stock at such a low rate.
Senators will agree to any plan that makes them rich.
That MOASS looks like it took 6-8 weeks from engine fireup to peak.
You obviously haven't head of the infamous VW short squeeze
It CAN HAPPEN AND DOES Happen--hopefully soon too
Preferred holders have no vote.
Only 1 preferred stock is convertible to common, and that is if common reaches $99 or about. Fitch has rated FnF preferred stock as junk debt.
Watch common go past $10
I highly doubt that preferred holders vote for less. They will just turn divvies on and offer a conversion to common for 2 reasons:
Common is uncertain but still may offer bigger upside to 6-10 initially
We don't need FHFA at all. There is no longer a conservator. For about a year now they have been using the term regulator.
IMO Otting called an all hands meeting thursday, peculiar since the employees are not working, to say that he is ending the conservatorship. ie find another job
I believe FHFA will not exist in the same form after release
They're all in on it, doesn't matter which political view they/you have.
Bush put FnF into cship, Obama stole the rest of the money.
They're all guilty.
Otting called FHFA employees into the office for an all hands meeting during a shutdown when very few were working. He absolutely told them to start looking for a job elsewhere.
He can RIF them after 30 days of furlough.
BOOM 600 employees off the federal payroll. Their furlough for 6 weeks pays for the wall.
BIGGER BOOM no need to amend any contracts, there's no one present at FHFA to oversee FnF.
Just a couple of regulators that will be within HUD
Otting called FHFA employees into the office for an all hands meeting during a shutdown when very few were working. He absolutely told them to start looking for a job elsewhere.
He can RIF them after 30 days of furlough.
BOOM 600 employees off the federal payroll. Their furlough for 6 weeks pays for the wall.
BIGGER BOOM no need to amend any contracts, there's no one present at FHFA to oversee FnF.
Just a couple of regulators that will be within HUD
OMG! Hands On Means RIF. FHFA Goes Bye-Bye! Adios Losers! LMAO
The FHFA all-hands meeting yesterday was Otting telling them they need to find work elsewhere.
They aren't being paid, aren't receiving benefits.
To be classified as employees, don't they have to be paid? I think so.
Can they buy FnF today without insider knowledge issues?
The FHFA all-hands meeting yesterday was Otting telling them they need to find work elsewhere.
They aren't being paid, aren't receiving benefits.
To be classified as employees, don't they have to be paid? I think so.
Can they buy FnF today without insider knowledge issues?
When was the last time we saw Freddie trade 10 million shares?
Dream bigger
Could we close at 2.50-3.00?
OTTING TO TAKE FnF OUT OF CSHIp
FHFA acting director discussing plan to take Fannie and Freddie out of conservatorship
Font size: A | A | A
11:45 AM ET 1/18/19 | MarketWatch
RELATED QUOTES
11:48 AM ET 1/18/19
Symbol Last % Chg
FMCC
1.89 4.42%
FNMA
1.91 6.11%
Real time quote.
FHFA acting director discussing plan to take Fannie and Freddie out of conservatorship
By Steve Goldstein, MarketWatch , Andrea Riquier
The acting director of the Federal Housing Finance Agency has told the agency's employees that the regulator will announce a plan within weeks to take the government-sponsored enterprises out of conservatorship.
Joseph Otting, who is leading the FHFA as Mark Calabria awaits Senate confirmation, said at an all-hands meeting on Thursday that a plan to lift Fannie Mae and Freddie Mac out of the conservatorship that has permeated the institutions since the financial crisis will soon be announced, according to an attendee of that gathering.
A spokesperson for the agency confirmed there was discussion about ending Fannie and Freddie conservatorship but denied there was any talk of timing or details.
"Acting Director Otting held the internal meeting to meet FHFA staff and establish open lines of communication," the FHFA said. "He mentioned, as he previously has, that Treasury and the White House are expected to release a plan for housing that will include details about reform and will likely include a recommendation for ending Fannie Mae and Freddie Mac conservatorships. [Treasury] Secretary Mnuchin has said that the goal of the [Trump] administration is to take the GSEs out of conservatorship. Acting Director Otting said that he and FHFA will work to advance that plan."
Fannie and Freddie were rushed into government control at the height of the financial crisis ((link: http://www.marketwatch.com/topics/subjects/financial-crisis-of-2008) marketwatch.com/topics/subject…). Then, in 2012, the terms of the 2008 bailout were amended to steer the quarterly profits of both enterprises to Treasury. That wiped out holders of the companies' stock, and they've fought the federal government in court ever since.
Congress has made several attempts at reform, but has not succeeded. As previously reported, the business-friendly Trump administration has been expected to find ways to work around legislators. Once the Obama appointee Mel Watt, who ran FHFA until early January, departed, and Otting was appointed, the path cleared. What makes these efforts unique is that the White House seems to be determined to go it alone without Congress's help.
Read:To free Fannie and Freddie, their regulator may bypass do-nothing Congress ((link: http://www.marketwatch.com/story/to-free-fannie-and-freddie-their-regulator-may-bypass-do-nothing-congress-2018-06-21) marketwatch.com/story/to-free-…)
The over-the-counter shares of both Fannie Mae(FNMA)and Freddie Mac(FMCC)have soared this month in anticipation of administration action, though it's not clear these shareholders would be rewarded.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
> Dow Jones Newswires
January 18, 2019 11:45 ET (16:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
OTTING TO TAKE FnF OUT OF CSHIP
FHFA acting director discussing plan to take Fannie and Freddie out of conservatorship
Font size: A | A | A
11:45 AM ET 1/18/19 | MarketWatch
RELATED QUOTES
11:48 AM ET 1/18/19
Symbol Last % Chg
FMCC
1.89 4.42%
FNMA
1.91 6.11%
Real time quote.
FHFA acting director discussing plan to take Fannie and Freddie out of conservatorship
By Steve Goldstein, MarketWatch , Andrea Riquier
The acting director of the Federal Housing Finance Agency has told the agency's employees that the regulator will announce a plan within weeks to take the government-sponsored enterprises out of conservatorship.
Joseph Otting, who is leading the FHFA as Mark Calabria awaits Senate confirmation, said at an all-hands meeting on Thursday that a plan to lift Fannie Mae and Freddie Mac out of the conservatorship that has permeated the institutions since the financial crisis will soon be announced, according to an attendee of that gathering.
A spokesperson for the agency confirmed there was discussion about ending Fannie and Freddie conservatorship but denied there was any talk of timing or details.
"Acting Director Otting held the internal meeting to meet FHFA staff and establish open lines of communication," the FHFA said. "He mentioned, as he previously has, that Treasury and the White House are expected to release a plan for housing that will include details about reform and will likely include a recommendation for ending Fannie Mae and Freddie Mac conservatorships. [Treasury] Secretary Mnuchin has said that the goal of the [Trump] administration is to take the GSEs out of conservatorship. Acting Director Otting said that he and FHFA will work to advance that plan."
Fannie and Freddie were rushed into government control at the height of the financial crisis ((link: http://www.marketwatch.com/topics/subjects/financial-crisis-of-2008) marketwatch.com/topics/subject…). Then, in 2012, the terms of the 2008 bailout were amended to steer the quarterly profits of both enterprises to Treasury. That wiped out holders of the companies' stock, and they've fought the federal government in court ever since.
Congress has made several attempts at reform, but has not succeeded. As previously reported, the business-friendly Trump administration has been expected to find ways to work around legislators. Once the Obama appointee Mel Watt, who ran FHFA until early January, departed, and Otting was appointed, the path cleared. What makes these efforts unique is that the White House seems to be determined to go it alone without Congress's help.
Read:To free Fannie and Freddie, their regulator may bypass do-nothing Congress ((link: http://www.marketwatch.com/story/to-free-fannie-and-freddie-their-regulator-may-bypass-do-nothing-congress-2018-06-21) marketwatch.com/story/to-free-…)
The over-the-counter shares of both Fannie Mae(FNMA)and Freddie Mac(FMCC)have soared this month in anticipation of administration action, though it's not clear these shareholders would be rewarded.
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
> Dow Jones Newswires
January 18, 2019 11:45 ET (16:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
You are so right.
Uplist triggers institutional investors, correct?
That will help the stock rise even higher, correct?
Absolutely the ruling is ready. Otting not contesting.
Can we get a link to Water's principles for Fannie?
Maxine water laid out 7 principles for Fannie- including the smooth transition to a new housing finance system.
Can anyone elaborate on what she means?
So Otting can't be removed until Calabria or whoever is approved by congress. That's good news.
What makes you say that?
UST/FHFA can't end the NWS without announcing the plan going forward.
Totally agree.
23 January we will win.
Good point