i get google alerts for fannie mae news, and you're right...there are so many stories directly or indirectly indicating that Fannie and Freddie played an insignificant role in the "housing crisis," and that if they were dismantled or otherwise impeded from their constitutional charge (1938 and 1970) of providing stability in the housing finance sectore, America would be in disasterous straits...concur fully
with the GOP news, and a report that Shelby wants to discard both corker/warner and crapo/johnson bills as a basis for new legislation, and good statements by nat. assoc. of buildiers head and others...i'm gonna say we'll gain 25 cents tomorrow...jump in before the water gets too hot
close at $2.65
yes, this is the hottest story now, in fact, this is amazing, jaw-dropping, sit up in bed, and could be the pipvot around wihich we can finally breathe a sigh of relief...this could be the jaw-droppin' story i said would be released monday...anyway...BEAM ME UP, SCOTTY
around 10 AM Monday, an announcement will come that cause shorts and bashers to fall down on their knees and ask forgiveness for pressing their false notions, and longs will be dancin' in the streets...see you monday, i'm off for some press meetings and won't be able to post until then, rest easy my long friends, rest easy, and even a little pre-celebration wouldn't be misguided...see you monday
My Fellow American FNMA and FMCC investors: My consideration of dismantling Fannis and Freddie was based on some erroneous information I received from high-level Treasury, SEC and FHFA personnel. To be frank, I was misled on some very significant issues regarding Fannie and Freddie's culpability in the 2007-2008 housing crisis. To make a long story short, I am firing the people responsible for those misstatements and instructing Treasury and FHFA to ease up on their dismantling efforts. I am also urging and calling for a complete restoration of Fannie and Freddie to their original statuses and specifically instructing Mr. Watt to release Fannie and Freddie from C-Ship. My sincere apologies for the consternation my administration has caused you for the last 6 years. Your Pal, The President
why? well, look at the scandals we've seen in the VA, IRS, SS, and rampant corruption by government officials statewide, and federal...so why should fannie and freddie be immune from such? the VA, IRS, and SS are far far more security wise and honorable than mere mortgage loan brokers....mark this post...some time, maybe sooner than later (lawsuits aside), something outlandishing scandalous will break out that will shed shame of the key figures involved in the conservatorships and related matters, including Treasury,
FHFA, and specific areas of malevolent conduct might be found in the initiation of the new CSS (does that scare you, shorts?) and other issues like data rights, relisting (which could involve that lady that's chairman of the SEC)...something is going to explode and expose some major shennanigans among top-level people, and possibly in concert with big finance and banking interests, domestic and abroad...it's gonna explode, PLEASE EXPLODE, so shareholders, the shareholders that have agonized for years about their investments, can have the last laugh.
please rise quietly now, and leave the hall via the exits on your right
To the Editor:
Re “Megarich Plaintiffs, Legally Adrift” (Op-Ed, Oct. 20): Steven Rattner lumps together two cases, A.I.G. and Fannie Mae/Freddie Mac, that raise entirely different legal issues. The A.I.G. case questions whether government has the power to dictate bailout terms. The Fannie/Freddie case questions whether government can unilaterally and retroactively change a bailout package years after private investors made decisions based on the original terms.
The government invested in Fannie and Freddie preferred stock carrying a 10 percent dividend. It changed its mind and decided to confiscate all earnings of Fannie and Freddie in perpetuity — despite the fact that the government recovered its entire investment with interest and will likely book a $200 billion profit on the sale of its common stock in the two government-sponsored entities.
Moreover, the government placed Fannie and Freddie in a “conservatorship” to preserve their assets and restore them to health, which cannot happen if they are stripped of all earnings.
I do not envy those in government who have to deal with the next crisis if this decision stands; they will have no credibility.
WILLIAM M. ISAAC
Sarasota, Fla., Oct. 21, 2014
The writer is a former chairman of the Federal Deposit Insurance Commission and a senior managing director for a consulting firm.
so in a nutshell, FHFA wouldn't be able to authorize "riskier loans" WITHOUT Fannie and Freddie, therefore, if Fannie and Freddie are dismantled, or otherwise eliminated, these 'riskier loans" would not even be available...is that right?
and if that IS right, Fannie and Freddie are HERE TO STAY...right?