Fannie Mae-No Politics (FNMA)

[Wise Man]

Goldman Sachs doesn't get that our only category is:
NOT ORDINARY BUSINESSES.

Supreme Court-appointed amicus:


With "de-regulation (sic) category", Goldman Sachs covers everything up, beginning with the 2011 UST Privatized Housing Finance System endgame (guarantee fee increases, Basel framework,...), chosen for the release from Conservatorship, at the request of the Dodd-Frank law. A Report to Congress.
Then, the FHEFSSA capital metrics, as seen also in the BTIG report, a subsidiary of Goldman Sachs, commented yesterday. Etc.
This is why GS now comes out with "easing the Capital Rule" stance.
A two-pronged attack. Or one attack if it's the same conglomerate.

The problem isn't "deregulation", because today's Basel framework for capital requirements is an international standard, but the current adjusted $-194 billion Core Capital together.
The reason why there is a 20% Risk Weight floor to calculate the Risk-Based Capital requirement, which is the only addition by regulation albeit authorized by Basel rules, is because of the "Capital covers unexpected losses" that BTIG said it all wrong (commented as well), because it leads to a capital level for the long haul, and not subject to the current pristine portfolios in FnF, with an average Current LTV of 58%.
For that, there is a different analysis called Stress Test, published annually and required by the Dodd-Frank law.

Anyway, there is also a Minimum Leverage capital requirement higher than the Risk-Based Capital requirement. So, no matter how low the latter is (deregulation), the binding capital is still the Leverage ratio (Core Capital > 2.5% of Adjusted Total Assets).
This is why Howard only complains about the Risk-Based Capital requirement and conceals the other, pretending that it doesn't exist, so the problem of FnF now is only "deregulation", instead of the real problem which is a Separate Account plan and that $420B of core capital generated during Conservatorship is currently missing on their adjusted Balance Sheets.
Timothy Howard is behind this attack by Goldman Sachs/BTIG for sure.

Hand-in-hand with the plaintiff Joshua Angel entertaining the shareholders on the Ihub message board with his deranged posts using 20+ aliases, that make our heads spin.

A phone call from the DOJ will clear things up.
Now, GS forms part of the pot liable for $4.8 billion in Punitive damages as compensation to the Equity holders, along with all others that have written the government theft story in formal documents: Moelis and sponsors, Ackman, Howard, Pagliara, the plaintiffs, etc.
Collusion.