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Thanks H! And thanks again Gretchen Morgenson!
YW, Camacho.
And another short part from Watt at
3:03:30 into hearing
http://www.c-span.org/video/?401650-1/hearing-financial-stability-oversight-council-operations
Lumpina, 3:08:00 into hearing, Watt
http://www.c-span.org/video/?401650-1/hearing-financial-stability-oversight-council-operations
2:37:20 into hearing, Rep Wagner's remarks
http://www.c-span.org/video/?401650-1/hearing-financial-stability-oversight-council-operations
Yes, you're right, but then he and others seem to stop at the third amendment issue. Who has the ability to end or amend that? The Treasury, congress or the lastly the court.
Yes, that was my take. Hopefully, we can get some clips to post.
It's open to interpretation, but he also said that it had been eight years, it was unsustainable and they were at risk of losing qualified employees.
Lew is chairman of the very powerful ad-hoc committee created in 2010.
Incredible, thumbs down. Lew, Treasury going unchecked. Have to get a clip of that!
Also now Watt just said conservatorship unsustainable. Question back to Watt, so you're saying, you, (congress) should act? Watt answers, yes, you should act. I'll try and post that clip to the minute also.
955, did you catch Wagner's questions and comments, right before they just cut out for recess? Incredible!! I'll try and post that clip.
It says full committee. We'll see who shows up!
Committee Members
114th CONGRESS
Jeb Hensarling, Texas,Chairman
Peter T. King, New York
Edward R. Royce, California
Frank D. Lucas, Oklahoma
Scott Garrett, New Jersey
Randy Neugebauer, Texas
Patrick T. McHenry, North Carolina, Vice Chairman
Stevan Pearce, New Mexico
Bill Posey, Florida
Michael G. Fitzpatrick, Pennsylvania
Lynn A. Westmoreland, Georgia
Blaine Luetkemeyer, Missouri
Bill Huizenga, Michigan
Sean P. Duffy, Wisconsin
Robert Hurt, Virginia
Steve Stivers, Ohio
Stephen Lee Fincher, Tennessee
Marlin A. Stutzman, Indiana
Mick Mulvaney, South Carolina
Randy Hultgren, Illinois
Dennis A. Ross, Florida
Robert Pittenger, North Carolina
Ann Wagner, Missouri
Andy Barr, Kentucky
Keith J. Rothfus, Pennsylvania
Luke Messer, Indiana
David Schweikert, Arizona
Frank Guinta, New Hampshire
Scott Tipton, Colorado
Roger Williams, Texas
Bruce Poliquin, Maine
Mia Love, Utah
French Hill, Arkansas
Tom Emmer, Minnesota
Maxine Waters, California, Ranking Member
Carolyn B. Maloney, New York
Nydia M. Velázquez, New York
Brad Sherman, California
Gregory W. Meeks, New York
Michael E. Capuano, Massachusetts
Rubén Hinojosa, Texas
Wm. Lacy Clay, Missouri
Stephen F. Lynch, Massachusetts
David Scott, Georgia
Al Green, Texas
Emanuel Cleaver, Missouri
Gwen Moore, Wisconsin
Keith Ellison, Minnesota
Ed Perlmutter, Colorado
James A. Himes, Connecticut
John C. Carney, Jr., Delaware
Terri A. Sewell, Alabama
Bill Foster, Illinois
Daniel T. Kildee, Michigan
Patrick Murphy, Florida
John K. Delaney, Maryland
Kyrsten Sinema, Arizona
Joyce Beatty, Ohio
Denny Heck, Washington
Juan Vargas, California
The Committee on Financial Services will hold a hearing entitled “Oversight of the Financial Stability Oversight Council” at 10:00 a.m. on Tuesday, December 8, 2015, in room 2128 of the Rayburn House Office Building.
The witnesses will be the Honorable Richard Cordray, Director, Bureau of Consumer Financial Protection; the Honorable Thomas Curry, Comptroller of the Currency; the Honorable Martin Gruenberg, Chairman, Federal Deposit Insurance Corporation; the Honorable Timothy Massad, Chairman, Commodity Futures Trading Commission; the Honorable Debbie Matz, Chairwoman, National Credit Union Administration; the Honorable Melvin Watt, Director, Federal Housing Finance Agency; the Honorable Mary Jo White, Chair, Securities and Exchange Commission; and the Honorable Roy Woodall, Independent Member with Insurance Expertise, Financial Stability Oversight Council (FSOC).
The Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) requires the Secretary of the Treasury, as the FSOC Chair, to appear before the House Financial Services Committee and the Senate Banking Committee at annual hearings to discuss the FSOC’s efforts, activities, objectives, and plans, and to answer questions about the FSOC’s annual report.1
This statutory requirement was last met when Secretary Lew testified before the Committee on the FSOC’s 2014 Annual Report on June 17, 2015. This hearing is intended to supplement the statutorily required annual hearing and allow the Committee to hear directly from the FSOC’s voting members other than Secretary Lew on matters relating to the FSOC’s agenda, operations, and structure.
Eight of those nine voting members have agreed to testify; only Federal Reserve Chair Janet Yellen declined the Committee’s invitation to appear.
That's what I was thinking TII. Final rule goes into effect December 21, 2015.
Greetings Camacho! I took a break when my Pacer bill became the size of a house payment. :) I was just looking over this doc right now.
Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters
http://www.gpo.gov/fdsys/pkg/FR-2015-11-19/pdf/2015-29367.pdf
"(b) Election and designation of body of law. (1) To the extent not inconsistent with paragraph (a) of this section, each regulated entity shall elect to follow the corporate governance and indemnification practices and procedures set forth in one of the following:
(i) The law of the jurisdiction in which the principal office of the regulated entity is located;
(ii) The Delaware General Corporation Law (Del. Code Ann. Title 8); or
(iii) The Revised Model Business Corporation Act."
"The proposed rule would have defined ‘‘executive officer’’ to include the chairperson and vice-chairperson of an Enterprise, along with a number of other specified senior executive positions at any Bank or Enterprise. Both Enterprises commented that defining ‘‘executive officer’’ to include the chairperson and vice-chairperson created a conflict with another provision of the proposed rule, 12 CFR 1239.20(a)(3), which requires the chairperson of an Enterprise to be a person other than the chief executive officer, who also must be independent, as defined by the rules of the New York Stock Exchange (NYSE). The applicable NYSE rule provides that a company’s chairperson is not ‘‘independent’’ if the person is, or has been within the past three years, an executive officer of the company. In order to resolve this conflict, FHFA agrees with the commenters and has amended the definition of ‘‘executive officer’’ to delete the references to an Enterprise’s chairperson and vice-chairperson."
because they have paid followers, or they have a paid position where they are followed by the Sec, ha! IMHO
Most cases involve "final" injunctive relief. Difficult to get injunction in the interim, must prove irreparable harm, etc. for interim.
Big Yank, you know the posting of these "losses" were explained a year ago. The USTreasury continues to confiscate 100% net profits of these privately held, publicly traded US companies, after the $187 billion+ of slush funds have been slushed back to the USTreasury, what motivation would there be for the companies to "post" any profits now?
Santelli has been pretty fair to Fannie, Freddie in the past, IMO. He brings the guests on and allows them to fall upon their own sword. We just saw the Corker debacle.
Thank you Fierce for all the great DD, much appreciated!
Seriously? If their move was so wonderful, why don't they make any comment whatsoever?
No!!! It is not their job! Who lifted the ceiling to what subprime junk the GSE's could take on Christmas Eve 2009? Why? What authority? and who stayed around to see it played out to the end and accept responsibility?
Thanks for sharing :)
Why such a change in tone today?
Thanks Bradforj!
Confirmed: payroll is being shifted to a new provider. Operators at Rontan are redirecting questions to GDSI when inquiries about management are made. This is legit guys.
Absorbing the full A/S count is still more than acceptable. Rontan is a $150m company easily. Do the math using the A/S and that works out to a valuation of .23/share. Now add the value of GDSI/NACSV onto that! This final bit of housecleaning of the debt through conversions is not going to keep us all from making an amazing profit. Stop listening to the lies and stay strong! I will admit, the volatility here has shaken me a bit and made me reconsider my "no flipping" stance, but I just can't afford to be out of this when the big PR hits the wires.
I'm not sure why he jeopardizes his reputation, if he does have so many followers? He has been corrected and refuted, and then, he gets back on a few hours later and posts, as if he didn't hear it?
Thank you to all the Veterans, active duty and their families! Happy Veterans Day!
http://www.syracuse.com/news/index.ssf/2015/11/veterans_day_2015_discounts_freebies.html
https://www.washingtonpost.com/pb/news/answer-sheet/wp/2015/11/11/why-veterans-day-is-on-nov-11-2/?resType=accessibility&nid=menu_nav
Familyof5, post your good stuff, but I'm not sure that too much time should be spent on this guy. He must get paid on each response here or his "thousands" of Twitter followers that he mentions. He says himself he has no skin in the game, so what's his motive?
You're welcome! Hope you have a great day!
Thank you to all the Veterans, active duty and their families! Happy Veterans Day!
http://www.syracuse.com/news/index.ssf/2015/11/veterans_day_2015_discounts_freebies.html
https://www.washingtonpost.com/pb/news/answer-sheet/wp/2015/11/11/why-veterans-day-is-on-nov-11-2/?resType=accessibility&nid=menu_nav_accessibilityforscreenreader
Thank you Commander for your service! Hope you get to take the day off and enjoy Veterans Day!
http://www.syracuse.com/news/index.ssf/2015/11/veterans_day_2015_discounts_freebies.html
Excellent thanks Hvpatel! Also keeping an eye on the Starr/Greenberg appeal.
http://www.bloomberg.com/news/videos/2015-10-26/greenberg-bernanke-geithner-way-overreached-on-aig
I agree H. Did you send any questions in this time?
And if you want to send even more money to the Treasury, you can now open a myRA. :)
"So here's the irony: The myRA actually has the working poor financing the government's deficit spending. By creating accounts that invest in a government pool, it's yet another way for the Treasury to raise funds without having to sell bonds in the public markets.
While this may not have been the original intention behind its creation, it's an important consequence, nonetheless."
http://www.cnbc.com/2015/11/04/oh-myra-what-a-misguided-bureaucratic-mess-this-will-be.html
Your opinion, not mine!
Big Yank, you yourself allude that Hank won, "old Hank learned with Judge Wheeler's decision that sometimes you lose when you win... no damages awarded.".
The rest is still under appeal....
Event Date: Monday, November 9, 2015
Event Time: 11:00am – 12:00pm EST; 16:00-17:00 GMT
US Toll-Free Participant Event Plus Dial-In Number: (844) 489-4527
Participant International Dial-In Number: (925) 418-7826
Conference ID: 22782662
Questions for the call should be emailed to ir@persq.com.
Following the call, a replay of the event will be available by audio webcast until Monday, November 23, 2015 at midnight EST/Tuesday, November 24, 2015 at 5:00am GMT.
Thanks H! Ackman has stayed more in connection with us, "the common folk, ha!!!) than anyone else. We'll see what he has to say Monday. We've pushed some buttons recently, and the forces, "that be" are firing back. We'll have to see what happens this month!!!