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?