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And the only reason that they are pink sheeted is because the government made it so that they could be taken off the big board
The GSEs were created and chartered by some very smart senators. They were only put into peril by a Congress that refused to take actions on the financial reports that the regulators were giving.
Dial back to an interesting article from 2014 - still no fix
http://thehill.com/blogs/congress-blog/economy-budget/207937-treasury-stealing-from-fannie-and-freddie-shareholders
Brings more focus to how resistance to the normal way of running the GSEs enabled (still) the great defeat of constitutional law - something that one president didn’t and still doesn’t believe in.
He had the opportunity to fix those parts that were deemed detrimental to their operations; however, he didn’t, did he?
If he didn’t, he simply didn’t do what Congress mandated- he failed and no one cared to question his motives - so Congress failed and are still kicking the can without offering a fix.
Any wording that falls short of clear and concise language should be credited to ‘the people’ and not to a self serving unfunded agency of the Govt.
Simply, scotus got it wrong as they are not financial experts. (IMO)
a senator who was onboard should have read a senator who wasn’t onboard..
Sorry for the mistype..
When I read c-ship guidelines, the only needed to preserve and conserve in order to prove sound operations and profit in order to promote release back to Shareholders and market. This was simply a grab the cash situation promulgated by the Obama lead Administration.
The administration knew Congress wouldn’t interfere, especially if those general fund monies were spent wisely (wink-wink).
I remember watching the overview senate hearings where Tim G would pony up an offer for a closed door meeting with a senator who was onboard with their program. That was the last we would hear of any conversations - not my idea of full transparency and/or understanding.
Hope the jury can see past the smoke and mirrors of what treasury and FHFA actually did.
Always enjoy reading your posts. Safe travels.
I too believe this was orchestrated and approved at the highest levels - maybe the reason those documents were protected by executive orders.
I believe there’s a provision that exec docs cannot be hidden if believe a crime was involved. Good luck pulling that nail — you’ll need a crowbar.
Thanks for explaining this. From what I read, it seems that one could see deliberate manipulation (tax credits) to maximize the nws.
Was this signed before or after she said they would be earning tons of cash? If after her announcement, then the 10q was fraudulent- correct?
Maybe that’s why Bo kept repeating Fannie Freddie have been fixed.. No one asked him to elaborate on what he meant.
Waiting to hear of Obama and Tim Geithner’s involvement.
Wish I had a like button for your comment/post!
All three Ames are subject to many years of criticism - if you believe that the intent was return the GSEs to the Shareholders, then you (IMO) don’t have a case.
Free enterprise, not a central government, is what made and preserved this country. This was a way to route. Obie’s to the general fund of treasury for the then president to spend of his choosing- nothing less than deceit (IMO).
Hard to believe that He didn’t consult with Treasury on that decision. Don’t believe the jury would believe that he was on his own - do you think plaintiffs could promote that little fact (previously from treasury and signing I’ve all control (via nws) to treasury)?
Interesting, if not deceiving. Wonder what emails could be involved? Or, did He too have separate mobile phones to rope the deal?
Did demarco come from treasury?
Has the mob ever canceled anything off the books? With that, One would believe that’s why We’re still here in a Conservatorship.
Who are on the Board of Directors and what are they doing for those great salaries?
I see it now - thanks.
Where are you seeing this?
Notice the above...do not use if jury sworn.
The question I would like to ask her is have you had any conversations with Treasury about The status of the current net worth sweep and ending the conservatorship?
Wow, I’m very impressed that He said that.
Thanks to all - really great slide (image) 955.
Invasion of privacy?
Should be required reading for all jurists and judges..
Great pics and wow what an experience. Maybe some day when this FHFA ‘dumpster fire’ ends we can all pick a spot to make good conversation.
Keep championing the cause and again thank you for your service then and now.
For everyone on the F&F train, I enjoy your discoveries and opinions - makes for great reading.
Yes, home ported Subic twice - two west-packs. As an officer, take the adventure again in another life.
I did one fly in to Clark and too a help to catch the boat on its way to liberty in Manila and one took a trip to Baguio and did a stay at the R&R (Robinson?) up that way - nice and cool in the mountains. But you took your life in your own hands riding Victory Bus line - great driving on those narrow mountain roads.
Fun times indeed.
Very nice pics. Cubi Point?
First off, thank you for your service.
Thank for sharing those proud career moments.
I now understand your passion and commitment on this boondoggle.
I too served (Ranger/CVIC) as enlisted.
I now know why you will “Never give up the ship”.
Again, thanks for all that you have done to keep this board (your new shipmates) positive and motivated.
I salute you with pride and honor.
That’s great news.
Thanks for the post Navy.
Navy, if I may ask, what was your speciality in the Navy?
Served on any ships?
Thanks for that link. Now, if just one judge or jurist has the fortitude to follow the law, this c-ship (nws) could be voided and all monies returned to the GSEs…
As the higher court said, it will not be an easy job to unscramble the egg, but it must be done to fix this problem.
So, correct me if I got this wrong - defendant’s lawyers are too busy..because they took on too many cases? Is this the plaintiffs fault? Another delay tactic that the court is honoring?
Yes, indeed…
“Since this is an Appointments Clause challenge, Ryder and Lucia apply. Thus, the de facto officer doctrine does not prevent the shareholders from obtaining relief..”
I agree, those who had ties to this NWS and help cover the intent should be held accountable.
I am about at the end of being able to post; however, I have some previous I-hun discussions (I don’t know who posted these) that are (IMO$ great reads and are pertinent: enjoy.. please shoot the messenger.
So the Board of Directors (BOD) are essentially doing everything as usual, except FHFA keeps them in this forever…set-up. They report to the Conservator - is the acting director of FHFA serving a dual role?
The BOD positions are political appointees - speaks for itself.
Is there a class action for the terms of c-ship being changed?
The intention of c-ship was to ensure and confirm sound business practices have been established and the enterprises can operate on their own.
Why wasn’t this agreement followed?
Why wasn’t it followed?
Who initiated the change in terms of the original c-ship and why?
If GSEs are deemed rehabilitated, at what date were they deemed rehabilitated?
It was and has been a back and forth argument between President, Treasury and FHFA regarding housing policy and how much monies can be allowed to new home buyers. Congress have left the discretion for FHFA to ensure sound housing policies are being implemented and processed.
The only other factor that comes into play is the Executive ( ie President) policies, Congress and the Banks. All this is now (seemingly) tied to the Treasury (in the guise of the FHFA).
Wait, I thought the FHFA was independent? If not, when did the FHFA lose the ability to go work independently of Treasury?
From what I have pieced together is that the last act of defiance of FHFA that caused Treasury to tear up the original terms of c-ship began with Obama Housing plan - that Demarco opposed. Demarco did not want Fannie Mae to participate in the HAMP PRA program.
https://www.forbes.com/sites/steveschaefer/2012/07/31/fannie-mae-freddie-mac-regulator-rejects-principal-forgiveness/
Demarco stance looks to have sparked the restructuring of FHFA and the terms of C-ship at the behest of Treasury:
From what I read, this act against the FHFA by Treasury essentially kicked in the “salt of the earth” plan - to keep the GSEs from being able to return a profit to Shareholders and exit from C-ship. Better yet, provide funding for those much needed President Projects that Congress could not fund.
So in this 8/17/2012, a press press release from Treasury, announcing the 3rd Amendment sweep. This could be the date that Govt made its move against the GSEs and the date that Govt knew GSEs would be back to making huge profits.
https://www.treasury.gov/press-center/press-releases/Pages/tg1684.aspx
(Short note, each time I read ‘taxpayer’ I sub/use the term ‘Government’ - this is who is who is directly spending the taken profits.)
Did Treasury get its orders to do this from the Oval Office?
Were Shareholders damaged?
Should that Government had ended C-ship at any time? If so, what time?
Hopefully a good Lawyer can help explain this to a Judge and Jury so We taxpayers can move on with our lives.
I-Hub 12/10/21
A power grab by any other name. 2008 was no accident, rather a well thought out heist of free capital markets executed through a takeover of the world's largest profit making machines, the GSE's. 9/11 was a well thought out heist of western freedoms through the ushering in of the Patriot Act. Recent pandemic and ensuing lockdowns are yet another tightening of the grip over global freedoms. Again, all very well planned and thought out. Want more evidence? On Wednesday, Sen Wicker (R-MS) stated US would not rule out pre-emptive nuclear strike on Russia if they invaded Ukraine, a state under heavy influence by the CIA and a major source of funding for Biden campaign. A major shift of nuclear policy from one of deterrence to one of coercion. This is what Bush Sr., former CIA director, meant by New World Order. Take note of those who are in denial.
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China releases a bioweapon on the world and people are at each others throats over masks and vax, they won the war without ever firing a single shot
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Constitution created three separate branches of the government: legislative, executive and judicial. While it may not have been the intention of HERA to insulate all executive actions under the law from judicial review, Supreme court’s interpretation of ‘incidental powers under a section’ caused this to happen.
What would happen if there was no judicial review? The constitution would be rendered unenforceable without it. if federal officials violated the constitution, the only recourse would be in the political process, a process unlikely to offer little protection to those whose rights have been violated. HERA (or it’s interpretation) granted executive branch with powers which were not subject to judicial review.
“According to Calabresi and Lawson, Congress has no ability to alter or make exceptions to the judicial power of the United States, or to do anything less than bring the full judicial power into execution.”
HERA therefore should be deemed unconstitutional. Most of the current cases do not address this issue (Wazee is one of the exceptions). A separate case or altering existing cases can force the issue in front of the Supreme Court. Declaration of HERA as illegal would bring all actions of the conservator under question and unravel conservatorship itsel
Good one
“Sir you have reached the wrong dept let me transfer you.”
If He’s found guilty, could He be sued?
If the below past was correct then plaintiffs should add John Carney and do some questioning - He served up lots of negative articles that discredited the GSEs.
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Re: chessmaster315 Post# 507574
For those that are new or unaware, Carney's wife works at Covington where Eric Holder was/is a partner. Same Eric Holder who defended lawsuits by GSE shareholders against FHFA/UST for years in the Obama administration.
It's no coincidence that Carney trolls GSE shareholders and spins in favor of Demarco, et al; or that he's so interested in the "GSE shareholders lost another lawsuit" angle.
How to convince the Jury
https://www.valuewalk.com/fannie-mae-fnma-freddie-mac-fmcc-hud/
Disclaimer: it’s somewhat dated