Replies to post #205457 on Fannie Mae-No Politics (FNMA)

[mikoli007]

If that is true, which, I guess could be. It show just how ludicrous and "STUPID" politicians can be.

stu·pid [stoo-pid, styoo-]
adjective, stu·pid·er, stu·pid·est.
1.
lacking ordinary quickness and keenness of mind; dull.
2.
characterized by or proceeding from mental dullness; foolish; senseless: a stupid question.
3.
tediously dull, especially due to lack of meaning or sense; inane; pointless: a stupid party.
4.
annoying or irritating; troublesome: Turn off that stupid radio.
5.
in a state of stupor; stupefied: stupid from fatigue.

It's like tearing your house because you stubbed your toe on the porch in front of a girl you were trying to impress while your wife was in the kitchen getting you a glass of tea.

[obiterdictum]

UPDATE 3: Johnson-Crapo Senate Banking Committee Vote - How can we know who will vote for and against the bill being reported to Senate leadership on April 29th?

So far, we know the following:

JOHNSON-CRAPO BILL SPONSORS
Tim Johnson, South Dakota, Chairman
Mike Crapo, Idaho, Ranking Member

SPONSORED AND CO-SPONSORED CORKER-WARNER
Bob Corker, Tennessee
Kay Hagan, North Carolina
Heidi Heitkamp, North Dakota
Dean Heller, Nevada
Mike Johanns, Nebraska
Jerry Moran, Kansas
Jon Tester, Montana
Mark Warner, Virginia
Joe Manchin, West Virginia
Mark Kirk, Illinois - "His office seemed convinced the bill will pass, not because the bill is a good bill, but because "I did not know what was going on (in the past with fannie)". - personal communication

LIKELY COMMITTEE SUPPORTERS OF JOHNSON-CRAPO | see: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100450707
Richard Shelby, Alabama
David Vitter, Louisiana - "Senator Vitter was "non committal" - personal communication.

DID NOT CO-SPONSOR CORKER-WARNER
DEMOCRAT
Jack Reed, Rhode Island - "Others in their party including Chuck Schumer of New York, Robert Menendez of New Jersey, Jeff Merkley of Oregon and Jack Reed of Rhode Island have yet to signal which way they’re leaning."

Chuck Schumer, New York - "Others in their party including Chuck Schumer of New York, Robert Menendez of New Jersey, Jeff Merkley of Oregon and Jack Reed of Rhode Island have yet to signal which way they’re leaning."

Bob Menendez, New Jersey - "Others in their party including Chuck Schumer of New York, Robert Menendez of New Jersey, Jeff Merkley of Oregon and Jack Reed of Rhode Island have yet to signal which way they’re leaning."

Jeff Merkley, Oregon - Merkley Cosponsored A bill to provide for the affordable refinancing of mortgages held by Fannie Mae and Freddie Mac.

Sherrod Brown, Ohio - says bill "is too complicated and doesn’t do enough to address too-big-to-fail concerns or provide assistance for affordable housing." “It’s not going to pass this year,” Brown said today at a Bloomberg Government breakfast in Washington. “If anything, it can get out of committee, I think it probably will.” "Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio have said they won’t back a plan unless it guarantees affordable loans for most buyers." "Democratic senators on the panel including Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio have said they want to ensure any measure guarantees affordable loans for most buyers and provides funds for rental housing for the poor."

Elizabeth Warren, Massachusetts - "Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio have said they won’t back a plan unless it guarantees affordable loans for most buyers." "Democratic senators on the panel including Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio have said they want to ensure any measure guarantees affordable loans for most buyers and provides funds for rental housing for the poor.

REPUBLICAN
Pat Toomey, Pennsylvania - The so-called profit “sweep” that the Treasury enacted in 2012 “raises serious concerns, including whether these actions lawfully respect the rights and interests of all Americans,” wrote Mr. Toomey. “Taxpayers should be fully compensated, but once they are, investors…should not be denied their fair share of any remaining value.”

Tom Coburn, Oklahoma

What notes can be added to each committee member?

_____________________________________________________

Sources:
S. 1217: Housing Finance Reform and Taxpayer Protection Act of 2013
https://www.govtrack.us/congress/bills/113/s1217

chessmaster315 - personal communications
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100498451

MB NOTES
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100450707

Sherrod Brown Says Fannie Mae Revamp Won't Pass This Year
http://www.moneynews.com/Personal-Finance/Fannie-Freddie-housing-collapse/2014/04/08/id/564325/

Brown Says Fannie Mae Revamp Won’t Become Law This Year
http://www.bloomberg.com/news/2014-04-08/brown-says-fannie-mae-revamp-won-t-become-law-this-year.html

Sen. Toomey Goes to Bat for Fannie, Freddie Shareholders
http://blogs.wsj.com/moneybeat/2014/03/12/sen-toomey-goes-to-bat-for-fannie-freddie-shareholders/

Fannie Mae Fix Fades as Senate Democrats Split on Plan - 44centsAKAchoccake
http://www.businessweek.com/news/2014-01-31/fannie-mae-fix-fades-as-senate-democrats-split-on-mortgage-plan

Senate’s Fannie Mae Wind-Down Plan Faces High Hurdles - 44centsAKAchoccake
http://www.bloomberg.com/news/2014-03-12/senate-s-fannie-mae-wind-down-plan-faces-high-political-hurdles.html

Helping Responsible Homeowners Act (2011) - 44centsAKAchoccake
http://thomas.loc.gov/cgi-bin/bdquery/z?d112:SN00170:@@@P
http://www.merkley.senate.gov/issues/legislation/index.cfm?PageNum_rs=36
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100494659

[chessmaster315]

Senators want to kill Fannie out of revenge against former fnma lobbyists, not to "protect taxpayers".

I can understand why senators are mad. Under the powerful Senator Barney Frank, Fannie got some special treatment, as Frank's Husband was a FNMA executive.

So, many fannie mae lobbyists were hired and blocked the Senators doors for other lobbyists (on purpose).


To get revenge on FNMA, Barney Frank, and the lobbyists for fnma, several senators (Corker, Warner, etc) decided to "kill fannie" and hired a former countrywide worker to write the kill bills. And, they want to do this at the expense of shareholders who had nothing to do with the actions of fannie mae lobby, or Barney Frank and his lover.

The Senate is acting out of revenge, not concern to protect taxpayers as they pretend. Its political scandal at its worst.

Source: This is my personal interpretation of a conversation on April 8 with an Aid in Senator Kirks office, that I attended with "Ann" and Mr. Frank Fosco.