Howard only knows stealing from private shareholder-owned enterprises, as proven in the 300-page OFHEO report when he was ousted from Fannie Mae in 2006 for Accounting fraud. He talks about capital needs when there is still $7.4 billion Treasury Stock in the balance sheet reducing Equity and Core Capital in Fannie Mae. They are the stock buybacks to boost his EPS target bonus back then, hand-in-hand with the Accounting fraud he was accused of. Surprisingly, in 2012 he was acquitted of civil charges by a DC judge (coincidence?) because there was no evidence that he had the intention to commit fraud. Huh? I see 27 million reasons in this table: I'm wondering whether his current blog about the Conservatorships was part of this kind of settlement with the DOJ, with the objective to rip off the shareholders and enrich the Treasury. Besides, he should always disclose that he's a member of Berkowitz's legal team.
By the way, the Request for Input on pricing, was not about the Capital Rule and the Basel framework. It was about the recent LLPA changes.
Thanks for posting LuLeVan - Freddie was cash flow positive before the GFC and every year thereafter. There was no definitely no need to put Freddie in Conservatorship. Your analysis of Tim Howard's post is exactly right - the only question is why doesnt the JB Admin act now for the win/win that TH has highlighted?
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