NEW BILL: H.R. 2435: To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes.
Track Bill Here: Website omited, ymb, go to ihub, look up member: obiteridctum
Introduced: Jun 19, 2013 (113th Congress, 2013–2015)
Sponsor: Rep. Michael Capuano [D-MA7]S Treasury engine.
Status: Referred to Committee
Bill text not available yet. This is a Dem move to uncouple the GSEs train from the US Treasury engine. It is a legislative attempt to amend the money siphon of dividend-draw constructed by the US Treasury to drain the profit of the GSEs by making a PSPA instead of a note payable or loan. There is no debt or loan or note payable, just a financial siphon arrangement now.
Finally someone with common sense has come forth with a doable plan that recognizes reality and is not trying to rake us over the coals. Share price would explode up rewarding the LONGS. Even the shorts should enjoy this one because of the volatility it would create. Hope it is true!
This is great news from Senator Capuano ; this is a great bill and the fact that there are no co-sponsors at this time does not matter ; it is early ; expect this news to propel the PPS by 0.06 on Monday for a $1.91 close