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It helps if you read the actual https://www.google.com/url?sa=t&rct=j&q=&esrc=s&amp

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arkup   Monday, 10/21/19 10:37:16 PM
Re: slacker01 post# 571484
Post # of 576567 
It helps if you read the actual statute. Here is the relevant part that I already posted:

Quote:

TITLE VII—FINANCIAL SERVICES
SEC. 701. TABLE OF CONTENTS.
The table of contents for this title is as follows:
Sec. 701. Table of contents.
Sec. 702. Limitations on sale of preferred stock.
Sec. 703. Confidentiality of information shared between State and Federal financial
services regulators.
Sec. 704. Application of FACA.
Sec. 705. Treatment of affiliate transactions.
Sec. 706. Ensuring the protection of insurance policyholders.
Sec. 707. Limitation on SEC funds.
Sec. 708. Elimination of reporting requirement.
Sec. 709. Extension of Hardest Hit Fund; Termination of Making Home Affordable
initiative.
SEC. 702. LIMITATIONS ON SALE OF PREFERRED STOCK.
(a) DEFINITIONS.—In this section:
(1) SECRETARY.—The term ‘‘Secretary’’ means the Secretary
of the Treasury.
(2) SENIOR PREFERRED STOCK PURCHASE AGREEMENT.—The
term ‘‘Senior Preferred Stock Purchase Agreement’’ means—
(A) the Amended and Restated Senior Preferred Stock
Purchase Agreement, dated September 26, 2008, as such
Agreement has been amended on May 6, 2009, December
24, 2009, and August 17, 2012, respectively, and as such
Agreement may be further amended and restated, entered
into between the Department of the Treasury and each
enterprise, as applicable; and
PUBLIC LAW 114–113—DEC. 18, 2015 129 STAT. 3025
(B) any provision of any certificate in connection with
such Agreement creating or designating the terms, powers,
preferences, privileges, limitations, or any other conditions
of the Variable Liquidation Preference Senior Preferred
Stock of an enterprise issued or sold pursuant to such
Agreement.
(b) LIMITATIONS ON SALE OF PREFERRED STOCK.—Notwithstanding
any other provision of law or any provision of the Senior
Preferred Stock Purchase Agreement, until at least January 1,
2018, the Secretary may not sell, transfer, relinquish, liquidate,
divest, or otherwise dispose of any outstanding shares of senior
preferred stock acquired pursuant to the Senior Preferred Stock
Purchase Agreement, unless Congress has passed and the President
has signed into law legislation that includes a specific instruction
to the Secretary regarding the sale, transfer, relinquishment, liquidation,
divestiture, or other disposition of the senior preferred
stock so acquired.
(c) SENSE OF CONGRESS.—It is the Sense of Congress that
Congress should pass and the President should sign into law legislation
determining the future of Fannie Mae and Freddie Mac, and
that notwithstanding the expiration of subsection (b), the Secretary
should not sell, transfer, relinquish, liquidate, divest, or otherwise
dispose of any outstanding shares of senior preferred stock acquired
pursuant to the Senior Preferred Stock Purchase Agreement until
such legislation is enacted.



Congress could up until Jan 01 2018 restrict the Secretary of the Treasury from selling/canceling the SPS without legislative approval. That time limit has expired. If you recall from school house rock a bill must go through three steps to become/amend a law. First a bill starts in the house and if they vote to approve it then it goes to the Senate. If the Senate approves it then the President will sign it into law or veto it.

Considering that Water's bill will need to go through that process it incredibly unlikely it would make it to Trump and if it did he would likely veto it.

So what is the fear fairy that haunts your dreams?





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