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Fannie Mae – A Look At Some Top Officials And Their Holdings Raises Questions
http://www.valuewalk.com/2016/09/fannie-mae-treasury-l-disclosure/
Fannie Mae & Freddie Mac – Senator Mark Warner’s Financial Disclosure by Travis Rothell and Jacob Wolinsky
On June 25, 2013 Senator Bob Corker (R-TN) and Senator Mark Warner (D-VA) introduced The Corker-Warner Housing Finance Reform and Taxpayer Protection Act (S.1217) to wind down government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. After reviewing senate financial disclosures from 2006-2008 it has come to light that both Corker and Warner were shareholders in Fannie Mae and Freddie Mac, of which they both took financial losses due to the subprime mortgage crisis. In a Financial disclosure dated 2009 Mark Warner disclosed many subprime mortgage investment including the infamous Countrywide. We now must ask ourselves two questions, the first being can two individuals that sustained personal losses in the GSEs look at the situation non-biased. It is impossible to answer this question but it should be noted especially when one looks at Corker’s recent comments and actions regarding GSE reform.
The second question, is the same senator that personally invested in subprime mortgages such as Countrywide qualified to write legislation that changes the landscape for the mortgage industry. He obviously looked at the subprime mortgage investments pre 2008 and decided that these were sound investments, do we want that same logic applied to fixing the troubled housing industry. Jacob J. Lew the current Secretary of the Treasury in a public financial disclosure dated January 11th of 2009, disclosed investments in both Fannie Mae and Freddie Mac. Lew’s Fannie Mae investment was valued between $15,000-$50,000. Fannie common shares traded at $0.74/share on January 9th of 2009, which could indicate that Lew held between 20,000-67,000 shares. If we look back to pre 2008 crash Fannie Mae shares traded as high as $67/share, this would indicate that Lew potentially took massive losses. Does this constitute a conflict of interest? The man responsible for upholding the “Net Worth Sweep” for the very companies that he took losses in. Can Lew look at this situation non-biased, I think this is an important question. Additionally, Lew would appear to have many conflicts of interest with Citigroup (NYSE:C) as this form shows.
Investments in Fannie Mae and Freddie Mac
Mark Warner
We will see...
If he is bs'ing he will lose a ton of credibility. Why did he say this? Account hack? Believing DC Bob? We will see
Waiting for it...
No way
In exchange for entering into these agreements with the GSEs, Treasury will immediately receive the following compensation:
o $1 billion of senior preferred stock in each GSE
o Warrants for the purchase of common stock of each GSE representing 79.9% of the
common stock of each GSE on a fully-diluted basis at a nominal price
Read this: http://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-8-7_SPSPA_FactSheet_508.pdf
Ever since the bailout, the government has had what's called a warrant to buy 80 percent of the common stock in Fannie and Freddie at any time. That means, whenever it feels like it, the government can take ownership of 80 percent (actually, 79.9 percent) of both companies. But the government has not actually acted on that warran
Actually they do have them. No court has said otherwise. Until then.
Everyone must remember!!! The US treasury owns over 4 billion shares of Fannie and Freddie. This is a huge number and one day will sell their share. 4 x 10 = 40 bill 4x20 is 80 bill. I think they may even own more than this.
Bottom?
Maybe today?
Correct
The case was not dismissed. The questions were not answered and denied.
So there isn't a time limit on decision?
Isn't the 150 day time limit up this week?
Come on Watt!! Do it already!
Still here. Waiting patiently. Like I said. Take my money or make me money already!
So I wonder all those big buys in the 1.90's were those buys to short? Or what
It can happen any day IMO
Take my money or make me money already
Maybe court news tomorrow YAH!!!
There was also a big 2 million share trade in the low 1.70's after the drop for no reason.
So we may drop but if we don't it shows that the appeals case is pretty strong. Tim's case was just to gain access to the books.
Or Friday
Maybe Tuesday.
Here we go...
I'm by merchandise mart
Usually when I'm in Chicago we drop hard. I was here for Lambeth. Not fun. Glad to see it holding.
Nothing today. Maybe next Later this week.
Maybe not :)
Had a dream it was $44.00 then dropped to .25 cents. So it was a good and bad dream. I did sell some though and made $1.3 million before the drop.
MMs dropping and loading covering. 2 million share trade last week. We will see....
Stocks don't climb 20% in a few days for no reason right?
Gap up...
This Page Last Updated: 08/12/2016 10:54:51 AM
Green today! Good luck everyone. Load up if you can
Big news for weed tomorrow! Hold tight!
We should hold here. We are right at the trend line from 1/20/16 when we hit .98 cents. Chart still looks good