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woo hoo!! It's hot!!
Someone needs to ask Watt if he is in talks with Lew to end the sweep. Lew also needs to be brought before the House and Senate and answer the question. IMO
capitalization talk! Let's go!!
Ya, Royce should be sued for lying right there.
oh no royce
hearing starting now
10am EST
Fanofred put this up on another site
https://thetruthaboutfannieandfreddie.wordpress.com/2015/01/26/mel-watt-prepared-statement-jan-15-2015-house-banking-committee/
Us Coloradoans say, get out your hats and gloves and 4 wheel drive jeep. You'll be fine!!
Yes, 11pm EST :)
I got through early, was informed that I wasn't allowed access.
I guess they didn't like my phone call. :) They never did this before....
I'm going to have to back to Pacer and I already owe them a zillion dollars :)
Big week!
They are very tight-lipped right now. Hard to get any info.
Always try, hope to get an ethical Treasurer from the smallest club, HOA, etc to the UST. IMO Very powerful position in any organization...Must audit :)
Sorry Cramer never responded to Fannie, Freddie. What, is he being sued also? The other hosts mentioned Fannie, Freddie today.
Thank you for the time. Much appreciated.
The board was. given a formal request by Berkowitz last year. They said that under conservatorship, they report to the Fhfa. I don't think we should be paying a salary for that response either. IMO
Yes, constant manipulation.
Does anybody know of a rep that's going to ask him the hard questions? Like in November before the senatebanking committee?
Who puts in an order of 5 shares of a stock trading at 2.16?
Would like to fly out to attend, if it wasn't for that nasty snowstorm. :) I'll try the telephone option.
It is also about protecting the health of the FHA's insurance fund, which has gained $21 billion in value in the past few years, largely on the backs of new borrowers with pristine credit. Last year mortgage giants Fannie Mae and Freddie Mac (the government-sponsored enterprises) announced they would offer a 3 percent down payment loan for both new borrowers and those who wish to refinance.
The FHA stood to lose considerable market share if its best borrowers jumped ship to those new loans, which unlike the FHA, do not require mortgage insurance for the life of the loan. Losing those best borrowers could hurt the FHA fund.
"Certainly [Federal Housing Finance Agency] Director (Mel) Watt and the GSEs are doing some noteworthy things," admitted Castro, "but that is not the ultimate driver of this decision. The driver really is what is in the best interest of keeping the fund strong."
http://www.cnbc.com/id/102368008
So true, he was number 1 for 2014. Hope he hits it out of the park for 2015.
Ackman's returns make him a top 20 fund manager
http://www.cnbc.com/id/102368083
Good timing. Then we can send in any questions about it to Bruce B before his Feb 3rd conference call.
Thanks Rocco2, sounds like they want to cover a lot!
JacobZf, if you're asking about the hearing with Watt, it's tomorrow at 10am. Disregard if that's not what you meant. :)
Lew on Friday, not sure if they'll talk about the GSE's
8:45 AM – 4:30 PM EST
Office of Financial Research (OFR) and Financial Stability Oversight Council (FSOC)
OFR/FSOC Fourth Annual Conference, “Evaluating Macro-Prudential Tools: Complementarities and Conflicts”
Federal Deposit Insurance Corporation “C” Building, Auditorium
3501 Fairfax Drive
Arlington, Virginia
This event is open press. For additional information, Please contact John Poirier at john.poirier@treasury.gov. The conference will also be webcast live at http://new.livestream.com/accounts/5201442/events/3728215.
Great news Bruce! Hope you have a speedy recovery!
Castro on CNBC this morning
http://video.cnbc.com/gallery/?video=3000349489&trknav=videogallerycarousel:8:46
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I'll tweet anybody if they'll mention on national TV that 100% net profits of Fannie, Freddie continue to go to the Treasury coffers after they have been paid back.
@jimcramer: Have a stock question? Tweet it to me using #CramerQ and I'll answer them at 10am today at the @NYSE on @TheStreetTV!
Have a stock question? Tweet it to me using #CramerQ and I'll answer them at 10am today at the @NYSE on @TheStreetTV!
— Jim Cramer (@jimcramer) January 26, 2015
Have a stock question? Tweet it to me using #CramerQ and I'll answer them at 10am today at the @NYSE on @TheStreetTV!
— Jim Cramer (@jimcramer) January 26, 2015
Right CBS, EU needs a Fannie.
2. EU Has No Fannie Mae
QE seems to work best when central banks inject capital directly into specific markets. The Fed purchased mortgage-backed securities that significantly lowered interest rates on mortgages across America. Housing prices recovered much of the value lost during the financial crisis, and new home construction rebounded.
The EU has no analog to Fannie Mae and Freddie Mac, and the ECB cannot readily purchase mortgage-backed securities to boost the European housing sector.
http://www.newsmax.com/Finance/Europe-QE-ECB-Greece/2015/01/22/id/620061/