Replies to post #471636 on Fannie Mae-No Politics (FNMA)

[Clutch29]

Sen. Elizabeth Warren's new reform bill would ban members of Congress from owning individual stocks

Sen. Elizabeth Warren proposes a new bill that would ban members of Congress and the White House staff from owning individual stocks.As an apparent alternative, the legislation would create "conflict-free investment opportunities for federal officials with new investment accounts."While the measure is unlikely to pass the Senate as long as Republicans hold majority control of the chamber, it comes amid speculation that Warren could run for president in 2020.

[Pecker9Wood]

So what your take. I never thought the government should get into the slum lord business and surely not partner with them. Most likely they owners of those loans are not following guide lines a good managers.

[Patswil]

Quote:
Once Trump becomes aware of the contents of the withheld documents, assuming they reflect the bailout intention, and once Trump is informed Justice and Treasury will lose the argument to keep the documents privileged, he will have to settle on the basis that the entire FHFA was a fraud.
Now rerun the calculation. Instead of $37.3B returning to Fannie, the number goes to $154.4B (dividends) + $117.1B (draws) = $271B. Subtract a reasonable reserve. (Tim Howard, the former Fannie CEO has argued for $60B, (2% of $3T) here, so use that.) $271B - $60B = $211.5B . Divide by the outstanding Fannie shares after the warrants are voided, roughly 1.2B shares, to get $176.3 per share. Add to that the $75 to $110 per share common value above on a going concern basis to get a range of $251 to $286 per share.

Class action lawsuit filed against Federal Housing Finance Agency and Treasury Department
FILINGS

By Noddy A. Fernandez | Aug 21, 2018

According to the complaint, since the 2008 execution and implementation of the Third Amendment to the Senior Preferred Stock Purchase Agreement has caused the expropriation of the companies' resources and private shareholders' rights, and its pursuit of housing-financing policies that disadvantage the companies and their shareholders, continue to harm plaintiffs and the class.

The shareholders are owners of common stock issued by the Federal National Mortgage Association ("Fannie Mae" or "Fannie") and the Federal Home Loan Mortgage Corporation ("Freddie Mac" or "Freddie;" Fannie Mae and Freddie Mac together, the "Companies").

https://pennrecord.com/stories/511539439-class-action-lawsuit-filed-against-federal-housing-finance-agency-and-treasury-department

The plaintiffs request a trial by jury and seek award of reasonable costs, including attorneys' fees incurred, and grant such other and further relief as the Court may deem just and proper. They are represented by Eric L. Zagar of Kessler Topaz Meltzer & Check, LLP in Radnor, Pennsylvania.