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Federal National Mortgage Association Message Board

  • foscofrank2 foscofrank2 May 16, 2014 3:59 PM Flag

    WATT's up with this statement! Looks like the DEMS want to save their fanny but take our money!


    “I don’t lay awake at night worrying about what’s fair to the shareholders,” says FHFA boss Mel Watt in an interview to be aired on Sunday. "There would be no Fannie (FNMA -1.8%) or Freddie (FMCC -1.2%) but for the taxpayers."
    Watt also notes the he had no role in altering the bailout agreements to allow for the continuous taking of all GSEs profits by Treasury. “I don’t know whether I would have thought differently had I been there, but I don’t have that luxury ... It’s an arrangement that I’m comfortable operating under.”

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    • All these clowns in Washington,Mel Watt forget who they are working for.I guess WE THE PEOPLE means nothing anymore.The shareholders are the taxpayers.Judge Sweeney will remind everyone that the Constitution is still the supreme law of the land.Until someone comes up with a better proposal,Ackman's proposal is the best solution.Barack Hussein Obama doesn't have a clue and should be grateful we have a Federal Reserve that saved his presidency.

    • grdnzrnic May 16, 2014 7:23 PM Flag

      What do you expect from Obama's hand picked man? The feds will try to get every nickle it can! FNMA is a cash cow! It will depart from the current policy only by court order/decision. Period. Until then the feds will surely enjoy the ride. Again, until the markets see some daylight in the law suits, things will continue as is.

      Politicians love the spotlight. It is far easier and fun for them to put the GSEs down and all the while enjoy windfall profits

    • When treasury get payment of June 30, after that it will release & relist. My only concern is warrant. Are they going to retire warrant or use it US debt reduction and/or capitalization of GSEs.

      One crazy idea: They can give sweep money back to GSE and sell warrant to recover $188B bail out money. After dividend payment to preferred & common, what ever is left that will provide cushion to GSE in capitalization. So why are they coming with new statements to control pps? Perhaps they are trying to force long term retail investors to sell shares common & preferred so that GSE has to pay less dividend. Berko is not selling his single preferred.

      • 1 Reply to mannsngr
      • The whole fiasco is an illegal mess---which could possibly, as a result of the multiple stupid mis-steps, could actually be a MASSIVE windfall for common shareholders( they don't want anybody getting rich because of their mistakes)-----and they cannot turn back the clock---Judge Sweeney will set them straight

        Sentiment: Hold

    • That fits nicely with the"You didn't build that" philosophy of his boss. Actually, any CEO that is focused on stockholders may not have their eye on the long prospects of a company. Many times when a CEO or COO are worried about stockholders they go for the short run results which hurt the company in the long run. I hope Mr. Watt is there to build a very health robust company and has not been sent there to wreak it.

    • Allow me a stupid question.
      If a taxpayer buys a share wouldn't be called a shareholder.
      Since a shareHolder is a tax payer wouldn't be called a taxpayer.
      Why is they are differentiating between the two when they address the winding down.
      I believe they have no argument and they are confused.
      Logic would prevail and they would be both released and relisted.
      Go long

      Sentiment: Strong Buy

    • All he had to say was something like, "there are a lot of complex issues to be dealt with and I intend to continue to address them one by one." His answer was completely out of line and totally inconsistent and a continued breach of duty as Conservator. Totally disgusting and disturbing.

    • He should be worried about shareholders, or more importantly the viability of the companies as the CONSERVATOR. It is his legal obligation and duty to make sure the companies are solvent and therefore worried about the owners of the companies. Making sure taxpayers are made whole is not in his mandate and has already been accomplished at any rate. Show me where taxpayers ended up on the wrong end of the deal here. Billions profit on top of other billions in profit by way way of 10% interest for 4 years.

    • He gave an absolutely politically correct answer to a tricky question. You would be naive & borderline dumb to expect him to openly comment in favor of shareholders at this juncture!

    • In his speech he said he wants FnF to capitalize themselves yet he's OK operating under an agreement whereby Treasury takes everything. Wonder if he proofread his speech before presenting it to us. Can't have it both ways

    • I guess it is really up to the courts. Too many criminals in government. Mel is just another one. How long did it take him to STUDY the matter. 6 months of figuring out how to steal.

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