Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Lots of unaccountability and it could continue past our mortal lifespans IF they are not released from the CONservatorships.
No one is really monitoring the FHFA and really very little checks and balances.
FHFA and UST are hiding SO MUCH INFORMATION THAT THE AMERICAN PUBLIC SHOULD KNOW but CAN'T because of Execution Privilege and National Security Privileges.
Unreal, it's like Government FOR the Government by the Government at the expense of the American People.
We'll see what happens.
That's right and Sandra can hire and hand out as many new positions as she wants so long as it's 'reasonable' and Freddie and Fannie get to foot the bill!
Did someone say, 'BANANA REPUBLIC' ! !
Don't worry the Shareholders have generously decided to pay all the 1,172+ FHFA Employees to have the day off!
"The average employee salary for the Federal Housing Finance Agency (FHFA) in 2022 was $175,878. This is 153.6 percent higher than the national average for government employees and 142.7 percent higher than other federal agencies. There are 1,172 employee records for Federal Housing Finance Agency (FHFA)."
https://openpayrolls.com/federal/federal-housing-finance-agency#google_vignette
These federal agencies have way too much concentrated power and the American People need to regain control of their Gubmint and one tool could be letting the independent Judiciary decide what the law means and NOT have the Agency have exclusive domain over determining what the law means and consequently the agencies reach of power over American Citizens and their Businesses.
"The problem with Chevron deference at the end of the day is it is almost like an abdication for the judge’s role in interpreting the statute if he think’s there is an ambiguity,” says Ryan P. Mulvey, a counsel with the Cause of Action Institute in Arlington, Va., a legal organization that is helping to represent the New Jersey fishers.
The Supreme Court granted review in Loper Bright last May, limited to the question of whether Chevron should be overruled or clarified. But Justice Ketanji Brown Jackson, who had participated in an oral argument in the case while on the D.C. Circuit (but did not rule), recused herself.
The court in October granted review in the Relentless case, again only on the Chevron issue. That will allow Jackson to participate in that case.
John J. Vecchione, senior litigation counsel with the New Civil Liberties Alliance, a legal organization (also based in Arlington, Virginia) that is representing the Rhode Island fishers, says that Chevron has been ineffective and not rooted in the Constitution.
“If judges find ambiguity and get to [Chevron] step 2, the government wins something like 95 percent of time,” he says. “So what you have is a judicially created instrument that compels one litigant to win.”
Mortgage Banking ain't exactly a hot button vote getter issue !
Are you going over to the O'Bummer Presidential Library this weekend with your snow shovel to 'help out'! He's the self proclaimed POTUS whose "the most transparent POTUS in history!". HeeeeHeeee! !
“It matters for every average American citizen—whether the government is allowed to regulate you and hurt you or not. Those things do matter.”
https://www.abajournal.com/web/article/supreme-court-to-consider-overruling-landmark-chevron-deference-decision-in-a-fishy-case
Legislative Branch seems asleep at the wheel as well.
I guess a couple of positive things:
(1) The idea of replacing the GSES has since 2012, morphed into TINA. Although the current director says she's waiting for Congress to decide the future of the GSES.
(2). At least the FHFA's current and past director said, "We're preparing for the exit" instead of ignoring the idea.
(3). The NAR, MBA, and NHBA seem to believe that exit is good for them as the GSES will be less prone to 'yuge' swings in policy from administration to administration.
(4). The win in Lamberth has some potential to be pivotal in some type of resolution.
(5). The GSES continue to maintain high Secondary Mortgage Market Share.
(6). A realization that after May 2020, the GSES are necessary and serve the American People well by keeping the Secondary Mortgage Market running on all cylinders.
It's like saying, "Oh on August 17, 2012, the Government decided to"salt the earth with the Shareholders Carcasses" but in 2019, on the next Amendment we only decided to maim and render powerless the Shareholders through the cumulative sweep of profits into the Litigation Preference, which is less bad.
Shame on Uncle Suggy for trying to kill AND THEN maim the Shareholders who have put their hard earned private capital at risk for a Social Good.
Having the Executive Branch decide unilaterally without Congressional approval to 'wind down ' the enterprises was misguided in the least and HERA wasn't passed to hold the GSES into perpetual CONservatorships.
Either put them in Receiverships or release them!
We need to wait for the appeals process to unfold and be finalized don't we, but of course you can initiate the Litigation if you wish.
But don't you want to know whether or not damages is expanded on appeal or if some of J. Lamberth's pretrial rulings are reversed?
Anorexia I think. When I worked at Fannie Mae, my girlfriend at the time told me she had that as a teen (she was SMOKING HOT, big taatas thin waist) and while in residential therapy the other girls would look at models in magazines and think that they need to be thinner.
Why must we as a society encourage our female teens to have tiny waists?
Let's tell Sandra to set up a ZERO down, ZERO percentage mortgage program so society can repay these Smoking hot beauties ! HeeeeHeeee!
The corporations and hence the shareholders are paying the judgment plus interest for the malfeasance of the actions of the FHFA CONservator.
To add insult to injury the corporations are likely paying the litigation expenses for defending the FHFA's bad acts here!
Amerika, my kinda place !
Question for the courts: Did the 4th Amendment breach the implied Covenant of Good Faith and Fair Dealing by transferring the net worth of the corporations to a Liquidation Preference for the US Treasury?
Thoughts?
MC in his podcast with Tim Rood believes that it is much more likely with him than the incumbent.
The incumbent is 5 more years of status quo whereas the alternative is likely to end government interference with the GSES.
According to the podcast, if the House is controlled by the R's, then French or Luke could spearhead the effort to end the conservatorships.
Looks like you are looking for a quicker route than the courts to end these most unpopular with Shareholders Conservatorships. Would this guy take us out of the Conservatorships quicker?
https://www.foxnews.com/politics/how-where-watch-fox-news-town-hall-donald-trump
https://www.nytimes.com/2024/01/10/us/politics/trump-town-hall-iowa-watch.html
Here's another take at reigning in the Administrative State, todays WSJ: "The SpaceX lawsuit also seeks to break new legal ground by taking aim at the NLRB's combination of adjudicative, legislative and executive power, which it argues violates the constitutional separation of powers and due process. NLRB members rule on charges brought in its administrative courts and decide whether to seek injunctive relief in federal court.
Members of other independent agencies do the same, but SpaceX argues that the NLRB's procedural unfairness is magnified because the board "has chosen to promulgate virtually all the legal rules in its field through adjudication rather than rulemaking."
In other words, the board uses internal adjudications to write new labor law. When a party appeals a board decision in federal court, the NLRB then claims that its interpretations of labor law based on its precedents and fact finding deserve judicial deference. Imagine a district attorney writing the law and hearing cases that it prosecutes under that law.
The "accumulation of all powers legislative, executive and judiciary, in the same hands" is "the very definition of tyranny," SpaceX writes, citing James Madison's Federalist No. 47. Congress has granted the NLRB and other independent agencies sweeping powers that would have made the founders blanch. But the agencies have also expanded their purview.
The Biden NLRB is a case in point. The board's statutory mission is to protect workers' right to organize, but it is rewriting labor law to limit employer rights to manage their workforces. Credit to SpaceX for firing a rocket at the administrative state."
Also, as I recall, the US Treasury was a listed Defendant originally, but the court ruled that their was no privity of contract between the Shareholders and the US Treasury, since the Implicit Contract was between Fannie Mae and Freddie Mac (and the FHFA in its acting capacity as the Conservator) and the Shareholders.
During both trials, the team of Arnold & Porter argued on behalf of the Defendants and the attorneys representing Fannie Mae and Freddie Mac were in the audience to help with the presentation of their case if necessary.
BTW, the lead attorney for Arnold & Porter said that the Shareholders were free to sell their shares at any time so what's the big deal, right!
Pretty sure FHFA is a defendant, they are represented by Arnold & Porter The Government go to firm, Dewey, Cheatum, & Howe were unavailable.
https://www.bloomberg.com/news/articles/2024-01-05/yellen-declares-us-economy-has-achieved-soft-landing?embedded-checkout=true
Soft landing or calm before the storm?
https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey
"Consumer Optimism About Mortgage Rates Jumps Significantly
Survey-High Share of Consumers Now Expect Mortgage Rates to Go Down
January 8, 2024"
The Chief Financial Officer for Freddie Mac in late 2011 through August 17, 2012 was buddies with either the FHFA installed CEO OR Demarco.
I thought it unusual at the Lamberth trial that this largely inexperienced CFO would be unable to see the upcoming massive turnaround in earnings and was towing the FHFA/UST line.
As I recall he was a Government Witness testifying on behalf of the government.
Let's see, (1) bad faith and unfair dealing with the Shareholders (2) the reversal of $50B+ in tax deferred assets into the US Treasury coffers (3) the reversal of massively inflated Loan Loss Reserves into the US Treasury coffers (4) the timely settling of the TBTF banks Litigation to conveniently allow for the transfer of 10's of billions more into the US Treasury coffers (5) $120B+ in NET INCOME reported in 2013 alone, with more Net Worth transferred to the US Treasury coffers quarterly until 2019 (in return for NOTHING) and continues today in the form of the 'Liquidation Preference'.
Nothing to see here my friends, according to the government.
"We're going to salt the Earth with the Shareholders Carcasses", UST official.
Could DOJ look into this, like they did here?:
https://finance.yahoo.com/news/billionaire-jimmy-haslam-being-investigated-195319838.html
https://www.cbsnews.com/amp/news/trump-colorado-case-2024-ballot-supreme-court/
"The court set a swift schedule for filings from the parties in the appeal brought by Trump and said in a brief order that arguments will be held Feb. 8. A decision could come quickly after arguments, since Super Tuesday, when Colorado and more than a dozen states will hold their primaries or caucuses, is scheduled for March 5."
Sounds sketchy: "Its ONE+ program – a conventional 1% down home loan program that launched in May – will include Freddie Mac‘s loan product advisor (LPA), which could translate to a 16% increase in client eligibility, Mike Fawaz, EVP of Rocket Pro TPO, said in a recorded video made public this week."
https://finance.yahoo.com/news/rocket-pro-tpo-announces-updates-180436287.html
Nice seafood, Southern Charm!
Encouraging News, people in charge that actually understand the importance of removing the Government's boot from the necks of Fannie Mae and Freddie Mac.
Great job! Thanks, next time I'm in Charleston, I'll buy you lunch!
Outstanding, thanks Clarence! 12 days until Loper!
SCOTUS in Conference today, Monday morning is the Order List.
'The Court will release an order list at 9:30 a.m. on Monday, January 8."
https://www.supremecourt.gov/
Petitions Relisted for the Next Conference
22-1130
74 Pinehurst LLC v. New York
(1) Whether a law that prohibits owners from terminating a tenancy at the end of a fixed lease term, except on grounds outside the owner’s control, constitutes a physical taking; and (2) whether allegations that such a law conscripts private property for use as public housing stock, and thereby substantially reduces its value, state a regulatory takings claim.
22-1170
335-7 LLC v. City of New York, New York
(1) Whether New York’s Rent-Stabilization Laws and accompanying regulations effect a per se physical taking by expropriating petitioners’ right to exclude; (2) whether the laws effect a confiscatory taking by depriving petitioners of a just and reasonable return; and (3) whether the laws effect a regulatory taking as an unconstitutional use restriction of petitioners’ property.
Real median household income was $74,580 in 2022, a 2.3 percent decline from the 2021 estimate of $76,330 (Figure 1 and Table A-1).Sep 12, 2023
https://www.census.gov › demo
Income in the United States: 2022 - U.S. Census Bureau
I want me a Gubmint Job!
"The average employee salary for the Federal Housing Finance Agency (FHFA) in 2022 was $175,878. This is 153.6 percent higher than the national average for government employees and 142.7 percent higher than other federal agencies. There are 1,172 employee records for Federal Housing Finance Agency (FHFA)."
https://openpayrolls.com/federal/federal-housing-finance-agency#google_vignette
Don't you think that the World Owes Me a Living?
Not sure about the procedural time limits but just Google, Time limit to file Request for En Banc Hearing in the 5th Federal Circuit.
Or, time limit to file a Petition for a Writ of Certerrori
HeeeeHeeee! There's a reason they're called the SUPREMES !
I'm not sure what's going on with Collins, yesterday someone speculated they may be waiting for the Lamberth Judgment.
What was the last hearing in Collins and how long ago was it? Do you know?
The Gubmint is the 2nd largest job creator in the USA....https://www.cnbc.com/2024/01/05/heres-where-the-jobs-are-for-december-2023-in-one-chart.html
Alex, I'll take, "Why do Americans increasingly believe that the Government can solve everyone's problems?"
Just par for the course. I'm pretty sure that all this Litigation hasn't cost the government a dime. To add insult to injury, I believe the FHFA not only deducts the Judgment from the GSES Balance Sheets but ALSO includes the Arnold & Porter team of attorneys and support staff (and Fannie Mae and Freddie Mac attorneys) and court costs from the GSES.
Nice guy, that Uncle Suggy !