Replies to post #458457 on Fannie Mae-No Politics (FNMA)

[Release us]

Update.... I believe Tim is reading a little too much into his coments.

https://video.foxbusiness.com/v/5778391807001/?#sp=show-clips

The way I remember it Mnuchin only said when Watts term is expired they will need to get someone who agrees with the administrations views. I don't remember him saying that Watt was against them. I'll go back and look again.

Great article and summary. What does everyone think when Tim says :


Quote:
So what is the solution? Mnuchin won’t say. However, he tipped his hand a little on Fox. Getting rid of FHFA Director Mel Watt when his term is up next year will give the Administration an opening to act. This is the same Mel Watt who has managed an historic offloading of the GSEs’ portfolios to the private sector and shepherded meaningful policy reforms to prevent a replay of the years leading up to 2008. And this is the same Mel Watt who has been pleading for years with the Obama and Trump Administrations, as well as Congress, to protect taxpayers by ending the Sweep and getting serious about reform. We’re in trouble if the secret plan for GSE reform rests on axing the only public official who is actually tuned into reality.

[Release us]

I believe Mnuchin made this comment about replacing Watt not to throw off on Watt. I believe Watt and Treasury had a pretty good working relationship. They worked together on the 3B capital buffer.

I believe Mnuchin said what he said because it has to be done. Mel Watts term is about up and they will want to have "their man" in place on 1/1/19...

I think a nomination for his successor will be made sooner rather than later because of the amount of time it take to get a conformation.

Disclaimer This is all just my opinion.

[cfljmljfl]

It was brought forward that Mel Watt wanted the 3 billion to pay the subsidies. Congress demand to know why Watt was paying subsidies when he was asking for a bailout.

Mel Watt conducted auctions to sell assets of FnF .

HOWARD writes a critical article about CRT business paying hugh interest to tbtf banks to hold MBS , but states it is bad cause tbtf will abandon the risk at first sight of trouble . Now he praises Watt , who put CRT plan in motion. Putting the taxpayer at increase risk knowing tbtf are being highly compensated only to abandon risk sharing .

It is like Glen Bradford tweeted “ the conservertory it is about race”. The only hope to stop this is through a court decision or administrative act. Not going to happen through Congress. Administrative action by president only works till the next President changes it.

Watt is not your friend.