Fannie Mae Preferred S (FNMAS)

[georgenips]

Housing Finance Reform and Taxpayer Protection Act (Corker Bill).

I read through the important parts of the bill again and it is setup to "abolish" but with a few minor last minute tweaks it could look like the Blueprint for Housing Finance Reform in America written by Jim Milstein.

"Jim Millstein, a former Treasury officer involved with the restructuring and recapitalizing of AIG, has bought shares of Fannie Mae through his company, according to Inside Mortgage Finance."

The Milstein approach is more inline with what Harry Reid is favoring.

“He says he wants to get rid of [Fannie and Freddie]. We’ve got to be very, very careful doing that,” Reid said. “I have no problem looking at them, revamping. But I think getting rid of them is not the right thing to do.”

The only difference I see with the two approaches is the Corker bill will wind down and the Millstein approach would recapitalize.

Both would utilize the FMIC only one would stop the lawsuits and satisfy all parties.


Blueprint for Housing Finance Reform in America:
http://online.wsj.com/public/resources/documents/WilsonCenter5.22.12.BlueprintforHousingFinanceReform.pdf

Housing Finance Reform and Taxpayer Protection Act Summary:
http://www.corker.senate.gov/public/_cache/files/f6951d82-1a9c-40d2-9291-dcdd5c153cbe/06-25-13%20GSE%20reform%20Summary.pdf

Housing Finance Reform and Taxpayer Protection Act Bill:
http://www.corker.senate.gov/public/_cache/files/1bc94e87-5a8a-4f07-a709-30bb19f15873/06-25 13%20BILL%20TEXT.%20Housing%20Finance%20Reform%20&%20Taxpayer%20Protection%20Act%20.pdf

Jim Millstein Fannie Mae shareholder:
http://www.cnbc.com/id/100754423