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Wednesday, June 29, 2016 10:56:09 AM
“Multiple sources have confirmed that the White House has reached out to the housing finance community to understand better its options on what to do with the GSEs after conservatorship,” according to Andrew Taylor, director of research at the investment intelligence agency. There’s already been rumours by various hedge funds that Obama’s team wants to privatise the GSEs; is this the beginning of the end?
Perhaps Obama’s team is coming around to the Republican senator from Tennessee’s camp, who was quoted on CNBC saying “people should just short it, because it’s major BS.”
“The Administration is in the very early stages of looking at various options to end the GSEs conservatorship. This is a major shift in thinking as it would entail ending the GSE profit sweep allowing Fannie and Freddie to begin to retain capital. We have been told the Administration is not close to deciding how to proceed,” said the Political Alpha note.
This follows on the heels of the latest litigation that arose from the Treasury Department’s 2012 profit-seeking takeover of Fannie Mae and Freddie Mac. On Sept 30, Judge Margaret Sweeney of the Court of Federal Claims agreed to the the plaintiffs’ demands in Fairholme Funds vs. United States to file all materials classified as “protected information” in relations to Fannie Mae and Freddie Mac. This essentially forces the administration to disclose the internal dealings behind the takeover they’ve been trying to suppress.
http://www.valuewalk.com/2015/10/fannie-mae-bob-corker/
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