I didn't know much about Castro before this, but from what I've seen it's easy to tell that he's a snake, he doesn't know jack about his current role as head of HUD and every response of his is political jargon, he's great at dodging answers so his responses are not on permanent record and quotable in the future, for instance:

Hensarling: "The law is 2% retention correct?"
Castro: "The law is 2%"
Hensarling: "You are not at 2%, so yes or no, is HUD breaking the law?"
Castro: "We are working hard to get to 2%"
Hensarling: "You're not at 2% so you are breaking the law, wouldn't you agree?"
Catro: "We are working hard to get to 2%"


What a hack

Castro is getting hammered by representaitve luetkemeyer

i expect no less... we've got a couple reps there that are willing to ask the tough questions

on now, hensarling is making opening remarks

http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=398666

Ackman and Berk don't need the media with the lawsuits... Besides, public opinion on FnF is still completely lopsided and has become almost dogmatic, at least in my experience, and there's no arguing with dogmatic thinking. Bill and Bruce know better than to even try and waste their time swaying public opinion through the media.


Over the past two years when I've brought up FnF to family and friends and co workers, 9 out of 10 times I receive the same response:

Me-"You know the companies Fannie Mae and Freddie Mac?"
Them-"Yea the one's who screwed our economy..."

It takes a good twenty minutes plus, depending on the person, to sway an opinion. Once they hear the situation they are completely befuddled and ultimately change their beliefs on the companies, but the hard thing is actually getting them interested in listening for that 20 minutes. A headline in the news doesn't do a damn thing to make them want to sit and listen, they have their minds made up already.

We're going to win this through the courts and Bill and Bruce know this. Hunker down, it's going to be a while. Keep accumulating if you can.

yup, everyone knows they are stable, Watt said when asked are the companies stable "we think they are," now Obama says they are stable in his budget. Two of the three who have power to end conservatorship have admitted their stability, now all we needed is treasury to admit it and for one of the three to follow the law and do what's right

With Obama projecting 191 billion in profits from FnF he is blatantly admitting to their stability

tweeting your message as we speak

i respect your realism but disagree with you completely. There is no other outcome for these companies that would maintain the stability of housing and our economy in the near decades. Every other bailout company has been let off the hook, it's just a matter of time

up 8% is nada? look, i'm sick of the false hoop over the past few years as well, but the things in play today are nothing like we've seen in the past... "Wind Blowing" as you speak of has affected share price in the past positively and negatively, and it will affect it again, and yes, nothing will be concrete until those things you mentioned happen, but those things you mention WILL happen and there is no doubt in my mind. We can't thrive as a country without housing and FnF ARE housing.

no news, really? we have reps asking "why are we still in conservatorship," reps bluntly stating, "FnF will be out of conservatorship at some point," reps calling for "recapitalization" senators calling for "5th amendment adhearance." This isn't news? These are the guys that MAKE LAWS and hold the GSE future in their hands, what about this are you missing?

HUGE NEWS: Sen. Rand Paul Introduces the FAIR Act


Jan 27, 2015
WASHINGTON, D.C. - Sen. Rand Paul yesterday reintroduced S. 255, the FAIR (Fifth Amendment Integrity Restoration) Act. This legislation would protect the rights of property owners and restore the Fifth Amendment's role in property proceedings. Rep. Tim Walberg (R-MI) is the lead sponsor of the FAIR Act in the House of Representatives.

"The federal government has made it far too easy for government agencies to take and profit from the property of those who have not been convicted of a crime. The FAIR Act will ensure that government agencies no longer profit from taking the property of U.S. citizens without due process, while maintaining the ability of courts to order the surrender of proceeds of crime. I will continue to do all I can to protect the rights of Americans and ensure that their Fifth Amendment rights are no longer infringed upon," Sen. Paul said.

"America was founded on the principles of due process and property rights. These principles must be defended, not undermined by a system that allows the government to seize an individual's private property without filing criminal charges. At a time when trust between government and its citizens is quickly eroding, the FAIR Act intends to return the balance of power back to the American people and away from an overreaching federal government," Rep. Walberg said.


http://www.paul.senate.gov/?p=press_release&id=1279

http://www.paul.senate.gov/files/documents/ALB15102.pdf

Yesterday was undeniably positive, if not positively amazing, for shareholders IMO.

We have officially shifted from "Wind down and eliminate the GSEs" talk of a year ago. Not one single word of elimination or wind down from the lawmakers yesterday. NOT ONE. Now the talk has turned to "why aren't we recapitalizing them?" and "WHY ARE THEY STILL IN CONSERVATORSHIP IF THEY'RE STABLE?".... these statements from Reps yesterday alone should have investors flocking.

A year from now what will the talk be? These are exciting times in the FnF neighborhood as always, but the stars are all aligning and time is running out for action before shit hits the fan and these lawsuits actual go through and reveal the injustice... strap in tight everyone because as the sometimes great Kevin Hart once said, "It's about to go down."

GL everyone.

TO THE NEWBIES:

I've been following this stock since its initial run in December of 2013 when it ran all the way up from .70 to 4.60... I will follow it indefinitely because I think it is a well ran company by the folks in San Diego and has a bright future. That being said, this stock is heavily manipulated and it is easy to see that by looking at the chart to anyone with the slightest of experience. My only advice is enter with caution if you trade, and plan on holding for a long time if you invest. GL to everyone and hopefully this thing shoots up and stays up this time.

Rep Barr: "Why are they still in conservatorship?"

aaaand then Watt asks for a two minute break directly after the question lol

Mulvaney: "Is fannie stable?"

Watt: "We think it is"

Mulvaney: "IF YOU THINK IT'S STABLE THEN YOU SHOULD STOP THE PAYMENTS"

Hinojosa and Waters have both acknowledged the 38 million dollar profit, that's amazing

Duffy back to the topic of capitalization of the GSEs, says we cannot fund the Housing Trust fund without adiquate capital

yea it's rediculous. happy that royce is trying to block the funding of the housing trust funds but he's clearly mistaken when he says tax payers have not been paid back... 38 billion more would than borrowed would beg to differ

Cleaver: "Thank you Mr. Watt for continuing to be the voice of reason..."

Hensarling: Crosses arms and laughs

Luetkeymer: "So fannie and freddie have no capital, how do they get money if they need it if these loans go bad? The treasury writes a check to them?"

Watt: "Yes that is correct, until congress passes GSE reform."

thank you, you are the first one to also acknowledge this amazing fact lol

http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=398622

you haven't missed much at all

Watt: "we don't play out the administration's policies, we follow the statute"... what a hack

the statute says he can release as well

hensarling will bring up recapitalization and possibly shareholders, i'd bet on it... garrett seems to be pretty logical and fair as well, they both don't agree with watt's policies and actions from the sounds of it

hensarling 'bout to buss a cap in cleveland's ass

Cleveland begins his opening statement

Can Waters kiss Watt's ass any more?

hensarling: "the crash wasn't caused by de-regulation, but dumb regulation"

I'm actually trying to look that up right now, I'm not sure exactly

WATT INTERVIEW TOMORROW

http://financialservices.house.gov/uploadedfiles/012715_fc_memo.pdf

On Tuesday, January 27, 2015, in room 2141 of the Rayburn House Office Building, the Committee will hold a hearing entitled “Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency.” The Honorable Melvin Watt, Director of the Federal Housing Finance Agency, will be the sole witness. The purpose of this hearing is to receive an update from the Federal Housing Finance Agency (“FHFA”) on:

(1) measures FHFA has taken as conservator of Fannie Mae and Freddie Mac
(2) FHFA’s current Strategic Plan for Fannie Mae and Freddie Mac
(3) the current financial condition of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (“FHLBs”)
(4) the current state of private sector participation in the housing finance market
(5) whether adequate steps are being taken to encourage additional private capital in this market
(6) additional actions FHFA has taken as regulator of Fannie Mae, Freddie Mac and the FHLBs.

Wow, haven't had a status report in forever it seems

Glad to see you back Bruce, hoping for a quick recovery

yea what a rush, that was my first actual feeling of euphoria from the market since I started investing. idk what was more intense, that or the following crash and depressing despair after my heart dropped out of my ass

50 DMA looks to be a possible trend line, watch for the ceiling bounce, if it breaks and holds we may finally see another uptrend.

Earnings out in a few weeks, we will see how the new phones did over the holidays

Has Obama talked about fannie and Freddie in his state of the union address In years past?

Prayers brothers, we'll see you next week

Minnesota twins=2015 AL central champs, mark it

"end the failed Fannie/Freddie duopoly business model"

Thoughts on this statement in the white house press release? It does not mention elimination or wind down of the companies which in my eyes is amazing, however, carneyites of the world can spin this very negatively for the simple fact that it has "end," "failed" and "FnF" in the same sentence..... what do you guys think?

http://m.whitehouse.gov/the-press-office/2015/01/07/fact-sheet-making-homeownership-more-accessible-and-sustainable

1030 signatures, 525 more than last time and still a few weeks, this says a lot IMO. Ralph Nader just retweeted it, we should be able to get quite a few more by the end. Thanks for everyone that signed.

This is a critical week, good luck everyone