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Hvpatel, did you catch this one?
The Sohn Investment Conference is back on this year for its 20th edition, and the money managers slated to speak are as big as ever.
The May 4 New York charity event, which raises money to cure and treat pediatric cancer, will include investment idea presentations from BillAckman of Pershing Square Capital Management, Leon Cooperman of Omega Advisors, David Einhorn of Greenlight Capital, Larry Robbins of Glenview Capital Management and David Tepper of Appaloosa Management, among others.
"Wall Street's best and brightest investors participate in this unique, 'must attend' event to share their expertise with an audience of more than 3,000 people, comprised of portfolio managers, asset allocators and private investors," event materials explain.
Other speakers this year are Mala Gaonkar, co-portfolio manager of Lone Pine Capital; Jeff Gundlach, CEO of DoubleLine Capital; Keith Meister, founder of Corvex Management; and Barry Rosenstein, founder of JANA Partners.
Some of the speakers this year are repeats from 2014. Ackman pitched Fannie Mae and Freddie Mac long positions at the May 5 event; that trade has so far backfired, with both stocks down by about one-third since the presentation was made.
Read MoreAckman: Fannie 'best trade...in capital markets'
Einhorn recommended shorting Athenahealth. The stock is down about 2 percent since the high-profile attack was made.
And Robbins recommended going long Humana, WellPoint and Monsanto. Humana is up nearly 60 percent; WellPoint (which changed its name in December to Anthem) is up more than 50 percent; and Monsanto is up nearly 4 percent.
Read MoreLarry Robbins ofGlenview: Monsanto should be piling on debt
Lawrence Delevingne
Enterprise Reporter
http://www.cnbc.com/id/102511811
yes, their billing is kind of funny. lmk if you need any updates!
Hey Rocco, have you heard any news in regards to the Perry Capital appeal? Last real activity Jan 16th. Next payment to Treasury goes out March 31st.
Hearing entitled “Oversight of the SEC’s Division of Enforcement”
Thursday, March 19, 2015 9:00 AM in 2167 Rayburn HOB
Capital Markets and Government Sponsored Enterprises
Click here for the Committee Memorandum.
Witness List
Mr. Andrew J. Ceresney, Director, Division of Enforcement, U.S. Securities and Exchange Commission
http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=398785
The Sohn Investment Conference is back on this year for its 20th edition, and the money managers slated to speak are as big as ever.
The May 4 New York charity event, which raises money to cure and treat pediatric cancer, will include investment idea presentations from BillAckman of Pershing Square Capital Management, Leon Cooperman of Omega Advisors, David Einhorn of Greenlight Capital, Larry Robbins of Glenview Capital Management and David Tepper of Appaloosa Management, among others.
"Wall Street's best and brightest investors participate in this unique, 'must attend' event to share their expertise with an audience of more than 3,000 people, comprised of portfolio managers, asset allocators and private investors," event materials explain.
Other speakers this year are Mala Gaonkar, co-portfolio manager of Lone Pine Capital; Jeff Gundlach, CEO of DoubleLine Capital; Keith Meister, founder of Corvex Management; and Barry Rosenstein, founder of JANA Partners.
Some of the speakers this year are repeats from 2014. Ackman pitched Fannie Mae and Freddie Mac long positions at the May 5 event; that trade has so far backfired, with both stocks down by about one-third since the presentation was made.
Read MoreAckman: Fannie 'best trade...in capital markets'
Einhorn recommended shorting Athenahealth. The stock is down about 2 percent since the high-profile attack was made.
And Robbins recommended going long Humana, WellPoint and Monsanto. Humana is up nearly 60 percent; WellPoint (which changed its name in December to Anthem) is up more than 50 percent; and Monsanto is up nearly 4 percent.
Read MoreLarry Robbins ofGlenview: Monsanto should be piling on debt
Lawrence Delevingne
Enterprise Reporter
http://www.cnbc.com/id/102511811
Perry Capital Appeal? Last activity was pretty much Jan 16th, each side providing proposals for briefing format. Next payment to Treasury goes out March 31st. Any thoughts? :)
Expecting tomorrow to be really slow with the Fed meeting going on. Last time, you could hear crickets, almost looked like trading halted. After tomorrow, maybe things will liven up. Thursday is the hearing before the capital markets and GSE committee.
Hearing entitled “Oversight of the SEC’s Division of Enforcement”
Thursday, March 19, 2015 9:00 AM in 2167 Rayburn HOB
Capital Markets and Government Sponsored Enterprises
Mon the 23rd, responses due in AIG case. In Fairholme/Sweeney, the attorneys were supposed to meet by the end of the month to go over some of the privilege classifications. The plaintiffs' attorneys also said they expect to see a steady flow of documents at least every two weeks if not more frequently! :)
200k, "mil" is a thousand in espanol. :)
Thank you Sims!
nothing new since Jan 16th, response filed just beginning procedural things. Feb 3rd change of party info, one person on plaintiff side now deceased
Hearing entitled “Oversight of the SEC’s Division of Enforcement”
Thursday, March 19, 2015 9:00 AM in 2167 Rayburn HOB
Capital Markets and Government Sponsored Enterprises
@RiskRewardFBN: TODAY: Bill Ackman talks with @DeirdreBolton about the investigations surrounding $HLF. 1pmET/10amPT on @FoxBusiness
That news has been out there for quite a while. I don't think he'll suddenly sell Fnf shares. He just said, "It's the most interesting risk-reward that I'm aware of in the capital markets right now,"
Agreed! Good Piece!
In reaction to the new regulations, Fidelity said in February that it plans to convert its largest money-market fund, the $111 billion Fidelity Cash Reserves fund, from a “prime” fund — one that invests in both government and highly rated corporate debt — to one that invests only in U.S. government and agency debt. Some other Fidelity prime money-market funds are slated for the same conversion."
http://www.marketwatch.com/story/get-ready-for-new-money-fund-rules-2015-03-11?siteid=yhoof2
In February, $111 billion. That seems like a lot of $$$$!!!!!
Fidelity said in February that it plans to convert its largest money-market fund, the $111 billion Fidelity Cash Reserves fund, from a “prime” fund — one that invests in both government and highly rated corporate debt — to one that invests only in U.S. government and agency debt.
"Another big change is that all money-market funds that invest in corporate or municipal debt will be allowed to charge investors a fee to redeem shares when the funds are under pressure or temporarily block investors from withdrawing cash.
These rule changes won’t apply to funds that invest only in the debt of the federal government and agencies like Fannie Mae FNM, -3.70% and Freddie Mac FMCC, -1.13%
In reaction to the new regulations, Fidelity said in February that it plans to convert its largest money-market fund, the $111 billion Fidelity Cash Reserves fund, from a “prime” fund — one that invests in both government and highly rated corporate debt — to one that invests only in U.S. government and agency debt. Some other Fidelity prime money-market funds are slated for the same conversion."
http://www.marketwatch.com/story/get-ready-for-new-money-fund-rules-2015-03-11?siteid=yhoof2
What is WSJ up to now?
Watchdog Criticizes Hiring of Senior Fannie Mae Official
Report says mortgage-finance company selected chief audit executive in ill-managed process
By JOE LIGHT
March 11, 2015 6:19 p.m. ET
A government watchdog on Wednesday said the chief audit executive for mortgage-finance company Fannie Mae was picked in an ill-managed hiring process, that he had conflicts of interest at the time he was chosen and had little necessary experience for the position.
the fact q
Quote
Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac.
"This month kicks off the spring homebuying season. Between now and the end of June, we'll see about 40 percent of all home sales for the year. So these next few months will essentially tell us whether or not 2015 will be a good or bad year for housing markets. Overall, we're feeling good about housing and we expect this year to be the best year for home sales and new home construction since 2007 when we saw total home sales about 5.8 million for the year."
http://finance.yahoo.com/news/freddie-mac-march-2015-u-191808183.html?.tsrc=applewf
Yes, Boies in Starr (AIG), Cooper in Fairholme, Olson with the appeal. Busy times!!! Go Fannie!!!
Thanks hvpatel! Starr (AIG)
433
03/11/2015 NOTICE, filed by USA Errata to Defendant's Post-Trial Proposed Findings of Fact and Conclusions of Law (Mizoguchi, Brian)
2 different ones :) That post was the FSOC meeting today, but I guess it's closed press now. Sorry about that!
In the afternoon, Secretary Lew will chair a meeting of the Financial Stability Oversight Council (FSOC) at Treasury. Deputy Secretary Raskin will also attend. This meeting is closed press.
cancel
THUD Subcommittee Hearing on Department of Housing and Urban Development FY2016 Budget Request
WASHINGTON, D.C.--Chairman Susan Collins (R-Maine) will hold a hearing of the Transportation, Housing, and Urban Development Appropriations Subcommittee to review the Fiscal Year 2016 funding request and budget justification for the U.S. Department of Housing and Urban Development
TRANSPORTATION, HOUSING AND URBAN DEVELOPMENT, AND RELATED AGENCIES SUBCOMMITTEE(Susan Collins, Chairman)
Hearing to review the Fiscal Year 2016 funding request and budget justification for the U.S. Department of Housing and Urban Development
10:00 a.m., Room 562, Dirksen Senate Office Building
Webcast: The hearing will be webcast. Livestreaming will begin when the hearing starts, and it may be necessary to restart your web browser at this time.
Witnesses:
The Honorable Julian Castro
Secretary
U.S. Department of Housing and Urban Development
Subcommittees:
Transportation, Housing and Urban Development, and Related Agencies
Date:
Wednesday, March 11, 2015 - 10:00am
"Another big change is that all money-market funds that invest in corporate or municipal debt will be allowed to charge investors a fee to redeem shares when the funds are under pressure or temporarily block investors from withdrawing cash.
These rule changes won’t apply to funds that invest only in the debt of the federal government and agencies like Fannie Mae FNM, -3.70% and Freddie Mac FMCC, -1.13%
In reaction to the new regulations, Fidelity said in February that it plans to convert its largest money-market fund, the $111 billion Fidelity Cash Reserves fund, from a “prime” fund — one that invests in both government and highly rated corporate debt — to one that invests only in U.S. government and agency debt. Some other Fidelity prime money-market funds are slated for the same conversion."
http://www.marketwatch.com/story/get-ready-for-new-money-fund-rules-2015-03-11?siteid=yhoof2
"Another big change is that all money-market funds that invest in corporate or municipal debt will be allowed to charge investors a fee to redeem shares when the funds are under pressure or temporarily block investors from withdrawing cash.
These rule changes won’t apply to funds that invest only in the debt of the federal government and agencies like Fannie Mae FNM, -3.70% and Freddie Mac FMCC, -0.75%
In reaction to the new regulations, Fidelity said in February that it plans to convert its largest money-market fund, the $111 billion Fidelity Cash Reserves fund, from a “prime” fund — one that invests in both government and highly rated corporate debt — to one that invests only in U.S. government and agency debt. Some other Fidelity prime money-market funds are slated for the same conversion."
http://www.marketwatch.com/story/get-ready-for-new-money-fund-rules-2015-03-11?siteid=yhoof2
I'd like them to ask Lew some questions!
Hearing entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System”
Tuesday, March 17, 2015 10:00 AM in HVC-210 of the House Visitors’ Center
Full Committee
x
It still says postponed, date to be determined for the hearing with the SEC. For the Starr case (AIG), responses due end of March, closing arguments end of April.
There's an FSOC meeting tomorrow, so Lew, Yellen, Watt and the rest of the committee will be there. You can tap into that webcast.
Financial Stability
Oversight Council
Home » Initiatives » Financial Stability Oversight Council » Council Meetings
Council Meetings
Get updates to this content.
On Wednesday, March 11, Secretary Lew will preside over an executive session of the Financial Stability Oversight Council (Council) at the Treasury Department. The preliminary agenda includes an update on the Council’s 2015 annual report, a discussion of central counterparties (CCPs), and a presentation by the Board of Governors of the Federal Reserve System on the results of the Dodd-Frank Act stress tests (DFAST).*
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues. The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and sensitive information at the center of its work. Consistent with the Council's transparency policy, the Council opens its meetings to the public whenever possible.
Open session Council meetings are made available to the public via live webcast and also can be viewed after they occur here. Upcoming Council meeting dates and times are posted following the official notification to Council members of an upcoming meeting.
Meeting minutes for the most recent Council meeting are generally approved at the next Council meeting and posted online soon afterwards. Meeting minutes for past Council meetings are available here. Readouts for past Council meetings are available here.
* In accordance with the Council’s Transparency Policy, which is available at www.fsoc.gov, this portion of the meeting will be held in a closed session to prevent the potential disclosure of information contained in or related to investigation, examination, operating, or condition reports prepared by, on behalf of, or for the use of, an agency responsible for the regulation or supervision of financial markets or financial institutions; information which would lead to significant financial speculation, significantly endanger the stability of any financial market or financial institution, or significantly frustrate implementation of a proposed agency action; and inter-agency or intra-agency memoranda or letters which would not otherwise be available by law.
Bookmark and Share
Last Updated: 3/4/2015 5:58 PM
Financial Stability
Oversight Council
Home » Initiatives » Financial Stability Oversight Council » Council Meetings
Council Meetings
Get updates to this content.
On Wednesday, March 11, Secretary Lew will preside over an executive session of the Financial Stability Oversight Council (Council) at the Treasury Department. The preliminary agenda includes an update on the Council’s 2015 annual report, a discussion of central counterparties (CCPs), and a presentation by the Board of Governors of the Federal Reserve System on the results of the Dodd-Frank Act stress tests (DFAST).*
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues. The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and sensitive information at the center of its work. Consistent with the Council's transparency policy, the Council opens its meetings to the public whenever possible.
Open session Council meetings are made available to the public via live webcast and also can be viewed after they occur here. Upcoming Council meeting dates and times are posted following the official notification to Council members of an upcoming meeting.
Meeting minutes for the most recent Council meeting are generally approved at the next Council meeting and posted online soon afterwards. Meeting minutes for past Council meetings are available here. Readouts for past Council meetings are available here.
* In accordance with the Council’s Transparency Policy, which is available at www.fsoc.gov, this portion of the meeting will be held in a closed session to prevent the potential disclosure of information contained in or related to investigation, examination, operating, or condition reports prepared by, on behalf of, or for the use of, an agency responsible for the regulation or supervision of financial markets or financial institutions; information which would lead to significant financial speculation, significantly endanger the stability of any financial market or financial institution, or significantly frustrate implementation of a proposed agency action; and inter-agency or intra-agency memoranda or letters which would not otherwise be available by law.
Bookmark and Share
Last Updated: 3/4/2015 5:58 PM
Yes, they were supposed to get out their calendars and decide on a time by the end of March to go over some privilege classifications.
No status conference Mar 11th
137
03/09/2015 JOINT STATUS REPORT Regarding March 11 Status Conference, filed by All Plaintiffs. (Cooper, Charles)
Consumer Optimism Toward the Economy Reaches New All-Time Survey High
Expected Ease of Getting a Mortgage Also Hits Record High as Overall Housing Sentiment Holds Steady
PR Newswire Fannie Mae
3 hours ago
????
WASHINGTON, March 9, 2015 /PRNewswire/ -- Amid continued strengthening in employment, consumer optimism toward the economy is growing and appears to be contributing to further improvement in overall housing sentiment, according to results from Fannie Mae's February 2015 National Housing Survey™. The share of respondents who believe the economy is headed in the right direction increased 3 percentage points last month to an all-time survey high of 47 percent, while the share who believe it is headed in the wrong direction decreased to 45 percent, a new survey low. Additionally, the share who believe it would be easy to get a home mortgage today increased to a record-high 54 percent while a survey low 43 percent think it would be difficult to get a mortgage.
"Continuing improvements in consumer attitudes in this month's National Housing Survey lend support to our expectation that 2015 will be a year of the economy dragging housing upward," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "The share of consumers who think the economy is on the right track rose to a record high since the inception of the survey nearly five years ago and for the first time exceeded the share who believe it's on the wrong track. Consumer confidence seems to be getting a boost from employment growth. This is reflected in their views on the ease of getting a mortgage today, which also reached a survey high in February. We continue to see strength in attitudes about the current home buying and selling environment and consistently high shares of consumers saying they expect to buy a home on their next move. At the same time, we still need to see further growth in consumer optimism toward personal finances and income for more robust improvement in housing market attitudes."
SURVEY HIGHLIGHTS
Homeownership and Renting
The average 12-month home price change expectation remained at 2.5 percent.
The share of respondents who say home prices will go up in the next 12 months fell to 46 percent. The share who say home prices will go down fell to 6 percent.
The share of respondents who say mortgage rates will go up in the next 12 months increased back to 48 percent.
Those who say it is a good time to buy a house remained at 67 percent. Those who say it is a good time to sell decreased by 4 percentage points to 40 percent.
The average 12-month rental price change expectation increased to 4.0 percent.
The percentage of respondents who expect home rental prices to go up in the next 12 months remained at 52 percent.
At a survey high of 54 percent of respondents think it would be easy to get a home mortgage today, while the share saying it would be difficult to get a mortgage fell 4 percentage points to 43 percent—a survey low
The share who say they would buy if they were going to move fell 1 percentage point to 65 percent, while the share who would rent remained at 29 percent.
The Economy and Household Finances
The share of respondents who say the economy is on the right track increased by 3 percentage points to 47 percent—an all-time survey high, couple with a survey low of 45 percent of those saying the economy is on the wrong track.
The percentage of respondents who expect their personal financial situation to get better over the next 12 months fell to 46 percent.
The share of respondents who say their household income is significantly higher than it was 12 months ago fell 5 percentage points to 24 percent.
The share of respondents who say their household expenses are significantly higher than they were 12 months fell to 31 percent.
The most detailed consumer attitudinal survey of its kind, Fannie Mae's National Housing Survey™ polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.
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For detailed findings from the February 2015 survey, as well as technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The February 2015 National Housing Survey was conducted between February 1, 2015 and February 23, 2015. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.
Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.
Fannie Mae enables people to buy, refinance, or rent homes.
Visit us at http://www.fanniemae.com/progress.
Follow us on Twitter: http://twitter.com/FannieMae.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumer-optimism-toward-the-economy-reaches-new-all-time-survey-high-300047062.html
http://finance.yahoo.com/news/consumer-optimism-toward-economy-reaches-130000208.html?.tsrc=applewf
Ackman is expecting a $6 billion payday when the Allergan deal closes in April. His swaps also expire in April.
1:45 PM EDT
Secretary Jacob J. Lew
Tour of Ellicott Dredges to highlight the Administration’s commitment to fostering economic growth and investing in American infrastructure
1611 Bush Street
Baltimore, Maryland
There will be a b-roll opportunity of the Secretary’s tour for TV cameras and still photographers. Media planning to attend must RSVP to Sarah Logan at sarah.logan@treasury.gov by 10:00 a.m. on Monday, March 9. Press should arrive by 12:45 p.m. to allow time for equipment sweeps and set-up. For additional information on the visit, please visit http://www.treasury.gov/press-center/media-advisories/Pages/03042015.aspx.
Taxpayers Recover $30 Million from Second First Bancorp. Trading Plan
3/9/2015
WASHINGTON – The U.S. Department of the Treasury today announced the completion of the second pre-defined written trading plan for First BanCorp. common stock. Treasury sold 5,000,000 shares and recovered approximately $30 million for taxpayers. Treasury currently holds 10,291,553 shares, or approximately 4.8 percent of First BanCorp. common stock.
To date, taxpayers have recovered a total of $441.7 billion on TARP investments including the sale of Treasury’s AIG shares, compared to $427.1 billion disbursed. Of the 707 banks that received TARP investments through the Capital Purchase Program, only 32 remain in the program. For more details on Treasury’s lifetime cost estimates for TARP programs, please visit Treasury’s Monthly 105(a) Report to Congress on TARP at this link.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of First BanCorp. common stock.
Why would there 8k show a new Freddie logo?
http://www.sec.gov/Archives/edgar/data/1026214/000102621415000017/fmlogo201410a01a01a02.gif