is...waitin for the government to get rite for the people
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She has to sleep sometime. Those red eyes would be buggin if she was awake rite now
Calabria uh uh uh uh uh. That must be his favorite cat. He was very nervous yesterday. Did not anyone see this. He had to say whatever he must to appease congressional fools as not to be grilled over and over. For now Rump will praise his new safe zone while the cat watches his regrettable own testimony
I feel like this news piece is bias and the whole story isn't here. It's only partly what was said. Calabria clearly stated shareholders should have been wiped in 08 not more. This has been blown out of proportion.
Regulator says government will 'wipe out' Fannie Mae and Freddie Mac shareholders if needed
BY MarketWatch
— 8:47 AM ET 10/23/2019
The comment came during a congressional hearing regarding the Trump administration's housing finance reform plans
Shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) have tripled in value this year as shareholders eagerly welcomed the Trump administration's interest in ending the two mortgage firms' conservatorship.
But a side comment made by a regulator during a congressional hearing Tuesday shows how little is settled when it comes to the fates of the two companies that underpin much of the housing finance market in the United States.
"If the circumstances present itself to where we have to wipe out the shareholders, we will," Federal Housing Finance Agency director Mark Calabria said during a hearing before the House Financial Service Committee, referring to Fannie Mae (FNMA) and Freddie Mac's (FMCC) shareholders.
The remark came in an exchange with Rep. Bill Foster, a Democrat from Illinois, who suggested that the plan to recapitalize Fannie Mae (FNMA) and Freddie Mac (FMCC) was benefiting shareholders rather than U.S. taxpayers.
"I agree completely that we should have and we should still wipe out these shareholders," Foster responded.
I feel like this news piece is bias and the whole story isn't here. It's only partly what was said. Calabria clearly stated shareholders should have been wiped in 08 not more. This has been blown out of proportion.
Regulator says government will 'wipe out' Fannie Mae and Freddie Mac shareholders if needed
BY MarketWatch
— 8:47 AM ET 10/23/2019
The comment came during a congressional hearing regarding the Trump administration's housing finance reform plans
Shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) have tripled in value this year as shareholders eagerly welcomed the Trump administration's interest in ending the two mortgage firms' conservatorship.
But a side comment made by a regulator during a congressional hearing Tuesday shows how little is settled when it comes to the fates of the two companies that underpin much of the housing finance market in the United States.
"If the circumstances present itself to where we have to wipe out the shareholders, we will," Federal Housing Finance Agency director Mark Calabria said during a hearing before the House Financial Service Committee, referring to Fannie Mae (FNMA) and Freddie Mac's (FMCC) shareholders.
The remark came in an exchange with Rep. Bill Foster, a Democrat from Illinois, who suggested that the plan to recapitalize Fannie Mae (FNMA) and Freddie Mac (FMCC) was benefiting shareholders rather than U.S. taxpayers.
"I agree completely that we should have and we should still wipe out these shareholders," Foster responded.
ok now im broke
Yes clearly Democrats were only worried about the panel profiting on it to which they have no skin in the game. Besides did you see who was making their TV debut AOC LMAO. she knew nothing.
Bottom line Treasury has the money. GIVE IT BACK! GO FnF!
yip, there is just so much happening its hard to fathom the ties it all has. like untying the worst knot you ever had in your fishin line as a kid
People just dont get it. once this happens and it will, the Contracts will become void and we win
clearly stated Clbria has congressional authority to do what he wants
Wholly agree.. they said everything correctly. I need a biological break now
Why Much Is at Stake in the CFPB Court Case
By Peter J. Wallison
The Supreme Court’s decision to consider the constitutionality of the Consumer Financial Protection Bureau gives the conservative majority on the court yet another opportunity — thus far unrealized -- to validate and re-enforce the Constitution’s separation of powers.
The Constitution vests all law-making authority in Congress, but also gives the president and the executive branch the exclusive authority to enforce the laws. The Framers created this separation because they believed that putting the power to make and enforce the laws in the same hands would endanger the peoples’ liberty.
The power of executive branch agencies — which many call the administrative state — has grown rapidly since the New Deal. This has occurred because Congress has been unwilling or unable to make the difficult choices involved in legislating. Instead, it has enacted broadly phrased laws, essentially delegating the key legislative choices to administrative agencies and violating the Framers’ constitutional plan of separation.
The CFPB case is not only an example of this problem, but represents a different and more dangerous tack — creating an agency with vast legislative authority that is answerable to no one, not even Congress.
The brainchild of Sen. Elizabeth Warren, the CFPB was given plenary authority to enforce all federal laws that apply to financial transactions with consumers. But its power was broadened beyond existing laws when it was authorized to take enforcement action on any transaction it finds to be “unfair, deceptive, or abusive.” The term “abusive” was not defined by Congress in the act, and thus delegated to the CFPB a vast field for the agency to define and pursue.
Although this kind of delegation is not new, there are two other areas where the Dodd-Frank Act — the authorizing legislation for the CFPB -- represents a dangerous step in support of an even more powerful and uncontrolled administrative state
First, it gives the CFPB’s director a five-year term of office, protected from removal by the president other than for “inefficiency, neglect of duty, or malfeasance.” This places the director outside the control of the president, whose ability to pursue the policies he was elected to implement depends crucially on the ability to remove and replace the senior officials of executive agencies.
This is the element that the Supreme Court will review and there are good reasons to overturn it. For example, if Congress were to place similar provisions in every law, a duly elected president would be unable to act. Virtually every domestic law empowers an agency, rather than the president, to act. If the president cannot dismiss the head of the agency at will, he cannot pursue his agenda.
But the Dodd-Frank Act went even further in attempting to make the CFPB independent, placing it beyond the control of Congress itself. Almost all agencies of the executive branch receive their funds in annual appropriations from Congress, but not the CFPB. This agency was made a bureau of the Federal Reserve, and was to receive its funding from the Fed at its director’s request. To ensure that even the independent Fed did not use this funding authority to control the CFPB, Congress made clear in Dodd-Frank that the Fed was to have no ability to affect the agency’s actions.
The CFPB legislation thus shows that the agencies of the administrative state can be even more dangerous to democracy than some might initially think. If the CFPB’s structure is approved by the Supreme Court, it would be possible for Congress to create other agencies that are beyond the control of any elected body.
Looked at from that point of view, it is obvious that the CFPB case involves more than merely the president’s power to remove the heads of federal agencies. Leaving the CFPB in place, and simply nullifying the provision that forbids the director’s removal without cause, will mean that it is still possible for Congress to create agencies that are beyond Congress’s appropriation power. The very existence of the CFPB shows that this is not a fantasy; Congress will apparently tie its own hands — as well as that of the president -- in the interest of placing an agency of the administrative state beyond the control of any elected person.
Now is the time for the court to make clear that the constitutional separation of powers means that Congress makes the laws and appropriates the funds for the president and the agencies of the executive branch, while the president has the power through the appointment and removal of executive officials to carry out the policies he was elected to pursue. Any limitation on these fundamental constitutional authorities, the court should say, will be overturned.
Agree
Feels the same everyday now. It feels like we are reading articles constantly that mean absolutely nothing, like a heads you lose tails they win. Tired and bored of this everyday. WHEN WILL SOMETHING CONCRETE EVER HAPPEN, BESIDES WORDS OUT OF THE MOUTHS OF FOOLS.!
Freddie Mac, Inst Holders, 3Q 2019 (FMCC)
BY Dow Jones & Company, Inc.
— 3:46 AM ET 10/20/2019
The following table shows the largest shareholders in FEDERAL HOME LOAN MORTGAGE CORP CO (FMCC) for the quarter ended September 30, 2019, listed by holding size. The list represents up to 50 of the largest holders in the company.
Note: Unless otherwise mentioned the reporting date is 09/30/2019
Institution Shares Shares % Last Held Changed Held Report Jet Capital Investors LP 1,475,000 1,475,000 0.227 06/30 Parkwood LLC 1,085,500 0 0.167 06/30 CapWealth Advisors LLC 184,200 0 0.028 06/30 RhumbLine Advisers LP 28,948 0 0.004 06/30 InterOcean Capital LLC 21,000 0 0.003 06/30 Carret Asset Management LLC 15,900 0 0.002 06/30 FNY Capital Management LP 15,000 15,000 0.002 06/30 Edge Wealth Management LLC 4,000 (1,000) 0.001 06/30 PanAgora Asset Management Inc 3,700 0 0.001 06/30 CapFinancial Partners LLC 1,320 0 0.000 06/30 Enterprise Bank & Trust (Misso 1,200 0 0.000 06/30 IFP Advisors Inc. 1,000 1,000 0.000 03/31 Winch Advisory Services LLC 609 0 0.000 06/30 Glenmede Investment Management 250 0 0.000 06/30 Fulton Breakefield Broenniman 0 (291,000) 0.000 09/30 Marietta Wealth Management LLC 0 (54,999) 0.000 06/30 Weaver Consulting Group LLC 0 (850) 0.000 06/30
we. are lookin at a breakout anyday now
a settlement for the juniors would be a nice timing with this
Refinancing mine today at 3.62 and dropping the pmi. Seems worth it to save that 400 bucks using the appraisal which was waived.
This is damn expensive.. why? https://www.insidemortgagefinance.com/products/295736?t=e19290
FnF beyond boring
well I'll beeee. I seee lil greeen men
cmon lil guy you can do it. crawl back out of this hole
Givin it 6 months and im done with this. May even consider less than 2 at this point. Just makes me sick anymore
does every move or agreement that is made get reviewed by an oversight or do fhfa and treasury just do what they want even though ruled against. where is the check and balance
Eternal it Feels like we are barely breathing
Not even logical to allow one owner take over the same as what the Gov. has had all these years! Not only that himself to take the money from Berkshire. Insane
(They someone DOES NOT WANT SCOTUS to hear the Collins case, thus dropping CFPB so there is not split circuitsAre you meaning split by fed and state?. Something is getting teed up)
They being (government)? No split circuit? (Teed up) , what might you speculate.?
That is the only part I dont understand, but thanks for the layman's with how it all went down.
Oh gosh spooky season is now in full effect
My eyes are about to pop out with all this reading. I cant do it spock but I know this all ties in to the red tape of conservatorship breaking
I guess we should vote for a price then. Starting bid $80 for me but feel it should be double. 80 going once
Amazing article. Just goes to show there are bigger things than even FnF and it even has ties to housing already. Gives the imprressiin of impending doom..a purge if you will
FNMA 115.47 Assets minus liabilities
Can someone please try and do an overlay chart comparison of either common of FnF and GBTC and please post it. I dont have the ability
WOWEEE!! Barchart shows Fmcc Growth Rate Est. (year over year)+1,248,650.00%
Market watch books FMCC shares Book Value($126.57) per share 9.24 billion in income
How about a firm that has already been working on this issue. That would more prove to me full value in 2 years
the close was a beautiful graceful thing today
Ya and I cant wait to see how they stick us with the bill. Can you imagine how many dishes you would have to wash
Boy does this sound like my life.
https://www.supremecourt.gov/oral_arguments/argument_transcripts/2016/14-1055_h3dj.pdf