Trump can remove Mnuchin in a heartbeat. Has nothing to do with Trump and Mnuchn being at ofds with one another. Has to do with the government institution defending itself. No president is looking to make a large payment to a tiny amount of shareholders when there a million other pressing issues to manage.
Calabria was nominated by the Trump administration and Trump needed to wait until he had “his guy” at the helm of the FHFA. He couldn’t and didn’t want to work with the remanence of the prior administration - Mel Watt.
Honestly, Calabria has been in office since March and has mad a lot of progress. Mnuchin must fight FNMA as he has a fiduciary duty to Treasury and the government. He can’t just roll over and yield to FnF shareholders.
The 5th circuit also ruled.
The SP hasn’t moved because the market wants clarity on the capital rule and warrants/SPSA. Hopefully a new amendment happens within the next 3 to 9 months to show the end game to this epic saga.
This has been very clear from the day one. But sole reliance on SM was a big misplaced trust. SM has been half halfheartedly interested in Trump MAGA Agenda. Like previous Goldman secretaries SM and his team have been more interested in wall street agenda. Look at adviser SM hired for FnF reform report. It says it all.
The agenda of revolving door appointees (from wall street) has been to promote interest of wall street at the cost of main street and US.
Look at how Hank promoted the interests of Chinese while on taxpayers payroll and also after the that.
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