Jack Lew where are you
That is the question. Obama and Congress are pretty outspoken about 'reform' of GSEs. Ed DeMarco is flailing around, speaking from both sides of his mouth. How can he be collecting 5.1B from JPM and $1B from UBS and $1B from BofA in fraud case and dribs and drabs from SunTrust and smaller entities and still say "We have to remember Fannie and Freddie's faults" and how he is continuing on his charted course to wind-them-down.
Jack Lew was asked by Ralph Nader to treat FnF fairly. Response?
Jack Lew has been awfully quiet, hasn't he?
Tim Geithner has to go to the Hill and explain his position vis-a-vis the GSEs and caught flak from more than one Congressman about the China and PIMCO profits vs. small bank "taking" of junior preferred capital.
Where is Jack Lew?
What has he said?
He has been invisible, but this will change.
Shareholders have been an after-thought and as Jim Millstein stated recently, "The government pretends they don't exist".
Someday, sometime (and I think it will be soon), someone like Elizabeth Warren is going to call him up and ask him in front of the whole world - What were you thinking?
There can't be a reform without a resolution as to us shareholders. Jack Lew and Ed DeMarco will have to answer to Congress someday.
GL all!
chris (chrisanja YMB)
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