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Please comment as FHFA is seeking for our opinions. Thanks.
https://www.fhfa.gov/SupervisionRegulation/Rules/Pages/Comment-List.aspx?RuleID=511
This is a very good thing if you are starting to fund the Affordable housing Act. I have been waiting a long time to see you start puting money into this fund since 2008
Fannie was not insolvent.
At the time of conservatorship Fannie had 40 BILLION in capital.
2007 loss 2.1 billion
2006 Gain 4.1 billion (profit)
2005 Gain 6.3 billion (profit)
SUM it up
2008 Q1 loss 2.2 billion
2008 Q2 loss 2.3 billion
As you can see, before the FHFA could fool with fannies books, The losses by July 2008 were a total of 6.6 billion dollars.
Quote from Fannies 10-Q. Q2 2008.
Our core capital as of June 30, 2008 was $47.0 billion, $14.3 billion above our statutory minimum capital requirement and $9.4 billion above our regulator-directed 15% surplus requirement. We currently expect that we will remain above our regulatory capital requirement for the remainder of 2008.
FROM 2005 to 2006, fannie was profitable.
2007 minor loss vs capital. 5% loss of capital
2008 first 2 quarters another loss of 5% capital.
SO the statement that fannie was insolvent was a LIE. they had 47 billion in capital.
Which after the lawsuits and the DTA they did not need to take, They would have never been Insolvent!!! Also without the treasury forcing Fannie to buy from TBTF banks MBS alt-a and subprime immediately after conservatorship began.
As reported in:
Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets
By Dawn Kopecki – October 11, 2008 00:00 EDT
Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.
Fannie and Freddie began notifying bond traders last week that each company needs to buy $20 billion a month in mostly subprime, Alt-A and non-performing prime mortgage securities
Please relist and relist FNMA/FMCC
https://www.fhfa.gov//SupervisionRegulation/Rules/Pages/Comment-Detail.aspx?CommentId=12988
Thanks Hollyk. Letters like these to the elected representatives will have more impact than 100k signatures. I signed though. Just IMO. Thanks.
Owns total 150k shares ?? That's pretty cool.
I am long but feeling like it may take years for the conservator ship to end.
fanofred on December 22, 2014 at 9:14 am
New Blog:
FHFA General Council Alfred Pollard Seeking Comments
http://thetruthaboutfannieandfreddie.wordpress.com/2014/12/22/fhfa-general-council-alfred-pollard-seeking-comments/
Send Mr. Pollard your thoughts on the Housing Trust and Capital Magnet Funds…and related ideas!
Reply
http://timhoward717.com/2014/12/18/redacted-response-in-opposition-to-defendants-motion-to-stay-all-proceedings-fairholme-lawsuit/#comments
Fresh Doubt Over the Bailout of A.I.G.
DECEMBER 20, 2014
http://mobile.nytimes.com/2014/12/21/business/fresh-doubt-over-the-bailout-of-aig.html?_r=0&referrer=
rmbph00@gmail.com on December 21, 2014 at 5:26 pm
Yesterday’s “Fresh Doubt Over the Bailout of A.I.G.” piece in the New York Times by GRETCHEN MORGENSON, seems to indicate that the brilliant and well intentioned professor, Richard Espstein, has not done the homework he should have done on the AIG case when he pronounced that:
http://timhoward717.com/2014/12/18/redacted-response-in-opposition-to-defendants-motion-to-stay-all-proceedings-fairholme-lawsuit/#comments
If what your assumption is right, then why the govt. has to fight so hard in the courts ?? I really doubt whether the conservatorship will end anytime sooner. This is just IMHO and I am long. Thanks.
If what your assumption is right, then why the govt. has to fight so hard in the courts ?? I really doubt whether the conservatorship will end anytime sooner.
Looks like nothing has mentioned about FNMA in today's interview.
Yea, I am in commons. Something(Release) to be happen now is exciting than to be happen after some years.
Thanks CatBirdSeat. Nice observation.
Crowley Interview with Obama:
http://m.huffpost.com/us/entry/6355630
After four years on the program, Crowley will say goodbye with an exclusive interview with President Barack Obama. The two are set to discuss the latest news concerning North Korea, the move to normalize relations with Cuba and the president's final years in office.
Dan W on December 19, 2014 at 11:46 am
That was potentially a reasonable thing to do in Ally’s case because apparently the TARP funds weren’t returned yet. In FnF’s case, treasury has been paid back. The treasury executing the FnF warrants for any reason at this time would constitute a “taking” of private property.
Reply
TrishG on December 19, 2014 at 1:10 pm
Thanks Dan
Reply
www.timhoward717.com
What is it about please ?
Common securitization platform.
Assets: 1,704 million ??
Liabilities: 988 million ??
Got a notice of disclosure statement hearing today. Hearing will commence on Jan 12,2015 at 1P.M EST. Objections, if any, must be filed no later than 4 P.M EST on Jan 2, 2015.
Sam on December 18, 2014 at 6:17 pm
Iowa is a horrible state to hold legal cases
Reply
http://timhoward717.com/2014/12/17/the-continuation-of-the-sweeps-through-the-conservatorships-is-a-violation-of-every-principle-established-in-bankruptcy-and-in-the-more-than-80-years-of-fdic-bank-resolutions-michael-krimminger/#comments
timhoward717 on December 18, 2014 at 5:21 pm
I must say the odds don’t look good in Iowa.
Reply
AIG Bailout Lawsuit News:
http://www.insurancejournal.com/news/national/2014/12/01/348529.htm
What does it mean ?? Can any expert on the board please explain. Thanks.
They literally want to cancel the shares second time also with out any compensation ?? It's ridiculous letting them to do that !!!
Aren't the share holders should get paid legitimately in that case ??
What does this mean in lay man terms please ??
Why no trading happened till now in XIDEQ. ???
1 million on bid for 0.06.
Mikemillions on December 18, 2014 at 2:59 am
Yesterday momentum has changed in our direction. Lots of great articles and big names came out to speak the truth. Driving home today I saying to my self how could this still be the money has been paid back. Release the GSE and let them build capital.
Reply
http://timhoward717.com/2014/12/17/the-continuation-of-the-sweeps-through-the-conservatorships-is-a-violation-of-every-principle-established-in-bankruptcy-and-in-the-more-than-80-years-of-fdic-bank-resolutions-michael-krimminger/#comments
Good observation. Thanks.
Fannie Mae and Freddie Mac have since fully repaid the taxpayers.
http://www.nyrealestatelawblog.com/Manhattan-Litigation-Blog/2014/December/FUNDING-THE-NATIONAL-HOUSING-TRUST-FUND.aspx
Yes it's about FNMA.
No questions on FNMA ??
"I will go to till the end of the earth to fight" - Bill Ackman
Regarding Herbalife ??