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Funny. Scottrade was reporting $0.20 for FMCC for a little bit today (on one ticker, but not another).
Almost had a heart attack.
"Most of what you say is obviously a reflection of your drinking too much of the media koolaid. BTW, BO does not want a middle class. His ideology is to destroy the middle class. "
Ironic post of the day.
NO, A theory becomes the hypothesis and after many experiments the hypothesis can become the law of whatever is being tested and tried, be it in physics, chemistry, biology, and or math.... However everything works in theory.....
Remember, Scientific method requires one to be able to prove out normally through observation of a theory before it is accepted as law. Big Bang, Evolution, dating using layers are just unproven theories. Liberals tout them as fact.
Exactly what I was thinking. I've never seen anything that even suggests that Watt wanted F&F eliminated. Maybe a smaller market share, but not elimination. Poor reporting.
Showing on Scottrade for FNMA
Close 4.10
Bid 4.26
Ask 4.23
So ask is below bid, and close is over 10 cents below both
EDIT: this wasn't supposed to be a "reply." Hit the wrong button to post
Certainly we should press for an uplisting, I don't realistically see it happening until they decide to end conservatorship.
Then they take the risk of being sued for mismanagement of the company.
I doubt FHFA will allow a relisting unless they're deciding to release from conservatorship. It would be politically harder for congress to disband F&F after they're relisted.
These are the same people that said this back in the days:
I'm glad to see everyone who has responded to MB post sees it the way I did as well.
They need to release FnF and let them recapitalize.
This is a no brainer.
Using the median low annual income of $6314 from the article below
Even with that wording of the question, they didn't get 60% opposition to F&F.
sn't it really just disgusting?
It is not polling, it is social engineering.
I am actually laughing
wow - tell the person subject X will kill them - then ask them what do you think of subject X
which slimeball polling firm agreed to field this? wow
Wow, talk about polling bias...
Oh, I see.
Don't forget that HUD also increased F&F's requirement to buy sub-prime loans in 2004 because "they were falling behind the private lenders" (paraphrasing). I don't think that hurt F&F much, comparatively, because even the sub-prime loans F&F backed looked like AAA prime compared to the stinking liar loans coming from the likes of WaMu.
HUD, under collusion between government and banks to take down F&F, places FHA & F&F in direct competition with each other, banks with assistance of credit rating agencies (Moody's et al) flood housing market with bad NTM's,
What's your point?
I always assumed out-right dismantling F&F would more likely come from Republicans. They even list F&F as a main cause for the 2008 financial crisis in their 2012 platform.
With the Koch brothers launching ads attacking politicians for attempting to dismantle F&F, that dries up any Republican support for that really quick.
So who is left with the political capital to touch F&F? A politician's best strategy is to do nothing, and hope the courts settle the issue for them.
Yes, they are behind the attack ads aimed at the senators pushing for the J-C bill. 60 Plus is on our side and also connected to the Koch brothers...who are both No. 6 on Forbes billionaires list.
Well this should reset the RSI
Wound down doesn't mean eliminated.
"The portfolio business, [Treasury Advisor] Mr. Stegman said, accounted for around 60% of the companies’ combined income, and those investment portfolios—currently a combined $1 trillion—are being wound down by 15% annually until 2018, when they will be capped at around $250 billion each."
http://blogs.wsj.com/moneybeat/2014/01/24/why-is-the-u-s-downplaying-huge-profits-at-fannie-freddie/?mod=yahoo_hs
There was a statement a few weeks ago that they would "wind down" F&F 15% a year until 2018, where they would be capped at $500 billion.
I'll see if I can find it.
are being wound down by 15% annually until 2018, when they will be capped at around $250 billion each.
Excellent post.
Politicians care little about F&F bringing in $10 billion a quarter. They want to be able to say "X wanted to kill these guys, and I saved them! VOTE FOR ME"
The thing is though, the Gov. is not greedy for money (they can print as much as they want). The governments interest is in HOW the money is made and WHO gets paid. The governments greed is for POWER, the ability to dictate situation and outcome.
As far as the government is concerned a "win" with fannie is simply the ability to say they made the right decision concerning fannie. They always have and always will control fannie… their stock ownership is irrelevant, they will give that up in a minute. It ain't about the money, it's about the power
Inflation of our currency has been happening steadily since 1913, and over the course of those 100 yrs, our dollar has lost about 96% of its purchasing power.
The GSEs' very existence as a guaranteed buyer of mortgages contributes to the high prices of houses (relative to income). Look at that data (income to house prices) and you'll see a very steady ratio going back hundreds of years. But that ratio began to change when the GSEs were born. And then house prices skyrocketed compared to incomes in the 1990s once the politicization of the GSEs' mission became more forceful. That's a bigger reason for price increases, I think, than the mere existence of the GSEs as guaranteed buyers of mortgages.
I had share builder, they let me exit and re-enter immediatly after the trade as long as I did not re-enter the same ticker I just exited, I swapped between FNMA and FMCC.
FMCC just hit $3.00
Weird day. FMCC is up 2.75% right now, while FNMA is down .36%. They usually don't diverge by that much.
OTC. Hey, we're slightly more reliable than Mt.Gox!
The problem is the Ask got stuck yesterday @2.55
Any idea when we will hear the judge's response to the government's (non)response?
Today's action proves the stock is news driven. TA is great, but it can't predict the action when it is attributable to news.
A bill introduced by Senators Bob Corker (R-TN) and Mark Warner (DVA) would replace Fannie and Freddie with a new public-private partnership that limits risks to taxpayers but still allows for the government to continue playing a limited role in the secondary mortgage market.
Wow. "A BILL To stabilize the housing and banking sectors" my butt.
I wonder why their reasoning for reducing FDIC to $150,000 is.
Holy crap.
Here's a link to that, from FHFA's website:
http://www.fhfa.gov/webfiles/25835/ProgressReportrelease112513.pdf
I like this line: "In particular, important progress toward the building of a new secondary mortgage market infrastructure and the contracting of Fannie Mae and Freddie Mac’s dominant presence in the marketplace has been achieved.
I laughed
Next Monday will mark a full straight month above $2.
Scottrade is reporting a day low of $2.03 LOL.
Do fat fingers close gaps?
No worries. I wasn't actually serious. ;)
That's it. I'm selling all my FnF and buying bitcoin.