Fannie Mae-No Politics (FNMA)

[obiterdictum]

He did OK, he could have been a hero for us now and the share price would be north of $8 by now. Instead we trending water at $3.86. Thanks Mnuchin for your loyalty to the GSE shareholders. I give him a grade of C for passing the democrapic committee tests. He could have done better and still get approved if he did not renig on "recap and release" comment. I am sure in the long run he will renig on his comment to the committee in our favor which is the constitutional and ethical thing to do. GLTA.

Steven Mnuchin did not renege on any of his statements made prior to his confirmation hearing.

Mnuchin never said publicly he was going to "recap and release" the GSEs in those words and so could not have reneged on something he never said.

A close comparison of his statements on November 30, 2016 on Fox Business News and his statements made in the 1/19/17 confirmation hearing show no contradictions or change of position.

Fox Business News
“It makes no sense that these are owned by the government and have been controlled by the government for as long as they have. In many cases this displaces private lending in the mortgage markets and we need these entities that will be safe. So let me just be clear— we’ll make sure that when they’re restructured they’re absolutely safe and they don’t get taken over again. But we gotta get them out of government control.” - http://www.foxbusiness.com/politics/2016/11/30/steve-mnuchin-time-to-jettison-fannie-mae-freddie-mac.html Mnuchin also said the incoming administration “will get it done reasonably fast.”

Confirmation Hearing
Video Clip of Sen. Warner's questions and Steven Munchin's answers concerning GSE Reform - 1/19/2017
https://www.c-span.org/video/?c4649494/steven-mnuchin-gse-reform

Video Clip of dialog between Sen. Crapo and Steven Mnuchin on GSE Reform during the Treasury Secretary Confirmation Hearing - 1/19/2017
https://www.c-span.org/video/?c4649516/steven-mnuchin-gse-reform