Mel Watt wanted to stop March NWS, but was politically threatened by crooked Bank Whore Senators. I believe it, because Watt has been "somewhat" pro-recap before, but again, was brushed off by Obama Treasury in 2016:
Bank Whore Senators don't want to see Fannie and Freddie get out of this with large market share, on a private scale.
Allowing the GSE's to go into receivership allows the Big Banks to move in. Don't forget folks, Mnuchin is a banker as well. Preferreds are looking very good right about now.
Mnuchin doesn't appear to want a recap and release. He wants a "reform" and release AFTER receivership takes place.
Sogo, while not a popular scenario on this board, I agree that congress could be hell bent on a wind down - and they could get away with it if there are no court decisions that force another outcome. The bigger obstacle that I see is that a wind-down would make the warrants worthless along with the common - but put corrupt wall street bankers and congressmen together and I'm sure they could find a way around that as well. Still hoping the 11K docs have SOMETHING of use in them and/or that we finally get one major favorable court ruling. glty shadow
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