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What? You don't think Brown's minority opinion pointing out HERA was building on established law about conservators was reading HERA right?
Olson was, IMHO, a disaster -- judges had to explain his brief to other judges...
Hard to tell what they thought -- though they were far from clearly aligned about the agency being obviously unconstitutional.
Brown asked a good question; Millet was downright annoying and rude, plus appeared not to be on topic once again...
Hard for to tell who was favored either way. As we saw with Ginsberg and Millet, if they want a certain outcome they go in for Make-a-Judgement and don't let the written law get in the way, so who knows...
Yes. What I have thought for a while
That is the speed at which the law runs when one side is dragging things out and has deep pockets
Very encouraging, thanks Navy
I think we will get R&R, but I think a PR campaign will precede it and so too will a settlement
So I think Mnuchin will not tip his hand this week and let the opposition start to organize and campaign
I think R&R will come
But I think Mnuchin may give nothing at all away in testimony - don't expect anything much
They won't say anything till they are ready
I REALLY want to know if any settlement talks have been initiated
You need to think about this a little more carefully...
Lots of ways to put the R&R into motion prior to 2018 and focussed on actual R&R in 2018
For example, settle with plaintiffs and lock in a plan...
And/or design the R&R to be consistent with the omnibus rules
And/or make sure no government securities change hands until after 2018
No so hard to do for a competent lawyer.
Why secretive? Because the TBTF banks will mount a huge PR campaign against any R&R move...
Like Paulson did to FNF, you need the TBTF banks to hear their faces hit the floor -- don;t let them know what is hitting them...
Dead of night administrative action -- no PR response, or congressional response, no legal response, can be orchestrated ahead of time
All over when they realize
The move to R&R is on because you are talking about an FHFA official -- R&R is not THEIR purview
On the other hand, Treasury can pursue R&R -- if GSE stick around then you have to fo that route.
Congress gets more dysfunctional every day, admin action only way to move FNF forward...
Mnuchin will R&R when ready
Right, Mnuchin just needs to say Watt's move is prudent -- then we know Watt and Mnuchin are woarking in tandem...
And we know there is a bigger plan behind Watt
OFC Watt and Ryan saying their suspension is not about R&R -- THEIR motive is no draw
BUT Mnuchin's motice.. well, another ball of wax
They are obviously trying to placate the people who are upset about GSE staying around, so they throw them a sop -- you will get more business (somehow)
Sounds great for shareholders...
The drive to receivership is DONE
Hence the move to R&R is ON
Whole direction of policy is CHANGED
This was very very foundational move -- we have now gone 180 degrees IMHO
HUGE! as someone might say
It is interesting to speculate why Corker is so, so determined to stick a stake through the GSE's heart -- is the short that big whether direct or through intermediaries?
Corker is really pissed he has lost and GSE's are here to stay -- and he just found out apparently
It basically is that simple I think
Corker is pissed so is pulling the chain
But this dog bites
No accident lots of peices out today on Corker trading Cheasepeake, I think...
OFC Ryan emphasizes they only ending sweep for short term reasons - since they do not want to fight the big battle
Little steps
But the direction is a new one and THAT is obvious for anyone to see who might be interested in doing so
We are moving towards GSE's staying around
Corker criticizes Trump on handling classified docs today
First time we have seen Corker attack Trump on anything -- and very wise not to do that cos Trump remembers EVERYTHING
Any connection between Corker "sensing something has changed on GSE's", his tantrum and now attacking Trump publicly?
I think this is a big mistake for Corker -- with Trump it is either you are with him or against. Corker just stepped onto the other team...
All very encouraging imho
Not sure I see why the President should not reach out to his base using every legal means
BTW Did you see Corker attack Trump today on handling classified info -- tell me that Corker's new attitude is not related to anger over, or even dejection at, Trump's GSE stance?
2+2 =4
No one here invested in FNF due to Corker's tantrum
But FNF investors can only be heartened to see the man who told people to short these companies, and who has pressed failed legislation aimed to destroy them, have a tantrum because the tide has turned on him
I actually thought that more telling than the whining and walk-out was Corky opining that "something has changed, I don't know what" -- Corky knows there are plans he has not been made a party to.
Corky does not like that -- should FNF investors? :)
That is just mistaken, I believe the vote was hours later -- Corker did not get his way so he took his ball home.
Explains a lot...
I find myself drawn to cliff edges, red headed women and FNMA common.
The first two I always knew involved a tendency to suicide, but thnak you for showing me FNMA stock may be linked.
Thanks to everyone for the company -- just feels right to come over the edge together!
lol
Wish I could answer.
But I hope that she rules in our favor and, before the end of this year, that sets a date to go to trial.
THAT would put us back with some leverage.
I think Sweeney has gone as fast as she can -- go faster and you get slammed on appeal or even removed.
I would not give up on Sweeney. I believe we will go to trial in her court -- and THAT would be enough for Mnuchin to start settlement talks IMHO.
Right, but it is very hard to tell what Mnuchin and the administration is up to. The Ginsberg Build-A-Judgement in the Appeals court threw a huge wrench in the process imho. Mnuchin/Trump need cover for doing the right thing.
One way to go would be baby steps, Watt suspends NWS.
Mnuchin settles with plaintiffs -- where that settlement involves a whole new approach.
The next step? Watt, Mnuchin and plaintiffs agree to the settlement -- though they would need a judge to sign off on that. BUT which court are we in where that would be appropriate?
Sweeney and Delaware need to get going. And we need those damn documents...
PS Change that - Puerto Rico is bust. FHFA shoudl annex Norway with its oil wealth and small army.
Well, I do not think Watt has authority to END the NWS (even given sweeping powers Appeals recently gave him...). So Watt talked about what he can do as Conservator.
Watt PLUS Mnuchin could end the NWS, but Watt cannot talk for Mnuchin.
But either reading could be right, I grant you.
Do you think FHFA could annex Puerto Rico? No court could review it per the Appeals ruling...
Fired or worse...
Watt appears committed to protecting FNF and the 30 year mortgage, so finally he moves
But you are right that as conservator he should have acted long agao -- and I believe the recent ruling of the Appeals court says he can do whatever he wants.
I would actually like to see FHFA annex Ukraine or perhaps Puerto Rico since they can do whatever they like given the recent interpretation of HERA. (And I am really not kidding..)
Navy, agreed. Watt gave them the options -- and they cannot pass anything given the political situation.
And Watt has been talking to Mnuchin -- who we can assume has greenlighted the action otherwise Watt would not finally be getting up on his hind legs.
So... NWS gone. Now what needs to be done?
Question: Have settlement talks started?
Please move to the FNMA preffered board -- nothing new to say here
Who cares what a court would rule, it is pretty plausible on the circumstantial evidence NWS was instituted, in part, to fill Obamacare funding shortfall.
I would be unsurprised if released documents support this once we get to see them -- either directly or indirectly
Nice summary, thanks Navy.
Sweeney is not judge Ginsberg who had a goal in mind and twisted a law to meet it.
Sweeney is going by the book - and finding against the US government. And protecting against Appeals.
I praise her for it and I am thankful for her integrity.
Na Na Na Hey Hey Goodbye...
lol
Here is a case where the mainstream media HAS been biased.
Pressing the truth on this case only makes these outlets look good, highlights how corporate ownership of the media does indeed have damaging effects, and highlights how on this issue at least we have indeed had "fake news"
This set of issues would be a huge winner for the Tweeter in Chief -- you could bash Obama, bash the media, bash the Dems using a stack of newly released docs to support your claims. All in the service of protecting the middle class's 30 yr mortgage and home ownership
O h l o r d
LOL
lol
What are FNMA's G-fees by the way?
Oh my, now we see where you are coming from...
Go over to Howard on mortgages site and read his detailed, and credible, account of how for two decades the banks have funded a multi-pronged campaign to take FnF's business.
I am done with you. Good luck
Anyone else: Is John Paulson in the common?
Please post a link either way. The board prodigy wants to know and cannot use google.
For the love of mike.
http://www.foxbusiness.com/features/2017/03/29/john-paulson-slashes-bonuses-at-hedge-fund-after-dismal-2016.html
I assume Paulson is using swaps or something else.
Lastly, you might do a google search on articles on Paulson's funds recent performance which outline how the fall in the common of FNMA hit him hard...
Anyway, you do a google search for yourself.
Try another one -- HINT: it talks about the common stock rise and fall cos Paulson owns so much of it:
https://theintercept.com/2016/11/22/hedge-fund-managers-expect-a-return-on-their-investment-in-donald-trump/