You are welcome. One result, unintended or intended, of Obama's comments about GSE and housing finance reform and his giving positive acknowledgement to the Corker-Warner proposed legislation is an increased political, economic and social focus on the contents of the bill and what enacting that bill would mean for financial system and the people of the US.
Politicians and policymakers, pundits and academics, economists and financial advisors and consultants, realtor, mortgage and bank associations, credit unions, community banks, mortgage banks, mortgage lenders, REITs, homeowners and more will now look to see where they will be hurt or where they will benefit with the two bills - Corker-Warner and Hensarling.
However, by not mentioning Hensarling, the President has taken that bill off the table and effectively pushed it aside indicating to all those mentioned above and more not to waste their time considering that bill and it seems to have worked. The bill is hardly mentioned in the dozens of reports, copied and repeated or original, and when it is mentioned it is a side comment.
So the Corker-Warner bill will be the focus for a while and it will be in a short time revealed for what it means and will do to stakeholders in the housing finance industry and the GSEs.
It can already be seen in the media reports how this going. It is a confused lot with common sense and ideology, financial intelligence and financial stupidty, etc. all rising up to make some kind of critique of the President's message and the Corker-Warner bill.
Missing are the Democrats and the big mortgage banks.
When the dust settles and it is not settled yet, we will get a better idea of what is going on.
The feedback since the President's statements were made is already affecting the President's language and where he places Fannie and Freddie in it. In his latest weekly message, he changed slightly the location of Fannie and Freddie so they are not the center of housing bubble bursting. See if you can notice how he changed the speech he was reading off the teleprompter from those previously given.
All of this is mud stirred up in the pond. Eventually, the mud particles will settle to the bottom and clarity will emerge, even if it takes years to do so. A mistake cannot be made. This time it has to be done right or we are heading right back to where we came from.
For an interesting parallel in history, review the relation and ideas of President Eisenhower, Miles Colean and Albert Cole in relation to Fannie Mae and the Housing Act of 1954.
Market Data 
Markets 
AI
