Administrative action imminent
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Europegoodold
Feb 14, 2019, 1:20:34 PM2/14/19
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Is it safe to say that, in an admittedly provocative way?
Dr.Calabria can claim innocence after his testimony today and likely gets confirmed anyway.
Mr.Otting doesn't want to look like a big-mouthed fool who's just collecting his paycheck.
The only remaining -and biggest- obstacle: Can the Treasury refrain from using the honey pot? And aren't they technically -without funding- unable to pay anything back?
Europegoodold
Feb 14, 2019, 4:52:14 PM2/14/19
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Andrea Riquier from Market watch confirmed today:
"...the interim director of the regulator, the Federal Housing Finance
Agency, has already begun working with Treasury to lay out a long-term
vision for the American housing finance system, finally freeing the two
companies from conservatorship"
Europegoodold
Mar 7, 2019, 10:34:26 AM3/7/19
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Chris Roberts
Mar 7, 2019, 1:20:49 PM3/7/19
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Aber das war Feb.7
On Thursday, March 7, 2019 at 9:34:26 AM UTC-6, Europegoodold wrote:
Glen replied today abt. McConnell's scheduling on cloture (i.e. vote), so maybe new on your feed.
"Been out there a long time"... plus one month... but it is coming.
On Thursday, March 7, 2019 at 9:34:26 AM UTC-6, Europegoodold wrote:
Europegoodold
Mar 27, 2019, 10:58:19 AM3/27/19
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From politico today:
MM scoop: White House moving on housing — Victoria Guida and I hear that the White House as soon as today will release a presidential memo directing the Treasury Department and the Department of Housing and Urban Development to draft reports on reform of Fannie Mae and Freddie Mac.
Our housing pro, Katy O’Donnell, reports that there won’t be much meat to it — expect a longer version of the section on GSEs in the summer 2018 OMB government reform plan
Europegoodold
Mar 27, 2019, 11:03:52 AM3/27/19
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Action, or plan -that's the question.
Europegoodold
Mar 27, 2019, 12:59:06 PM3/27/19
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Fox News: More talk, no action imminent
Who can trump Mnuchin and Otting?
Europegoodold
Mar 27, 2019, 1:02:26 PM3/27/19
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Europegoodold
Mar 27, 2019, 1:03:26 PM3/27/19
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Geithner says U.S. far behind on housing finance reform
SimSla
Mar 27, 2019, 1:04:50 PM3/27/19
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Isn't this the old video? I thought he was on air at 1pm eastern today.
hellbentonholding
Mar 27, 2019, 2:38:01 PM3/27/19
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The imminent action is maintaining control over the involved Judiciary
Europegoodold
Mar 27, 2019, 2:40:10 PM3/27/19
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Hell bent on waiting for the 5th circuit :-)
Chris Roberts
Mar 27, 2019, 2:50:17 PM3/27/19
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The way I see it...
We are now just one announcement away from End C-Ship / R&R.
Otting teased it, but the skids needed to be greased and it allows for a little more ramp up in PPS so that the gosh-look-at-the-hedge-fund-profits people aren't saying they profited overnight.
Common should be going to $4 or $5 and Preferreds up to $20+ on this news.
As Barney on How I Met your Mother would say..... "Wait for ittttt".
Question then: Mnuchin has a dog-eared copy of the Moelis Plan in his back pocket. When does he slap it down on the table for Calabria and Trump to approve?
Europegoodold
Mar 27, 2019, 3:02:36 PM3/27/19
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You got some of what Pauly got? :-) Commons won 25 cents in a heartbeat and then fall back again to where the day started... Let's see what the market says in the next days.
Chris Roberts
Mar 27, 2019, 3:16:08 PM3/27/19
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Up-down, up-down, up-down, bleed, up-up-up, bleed, bleed, bleed.
Yes, there are traders.
But, at some point they move and move hard and fast. Recall how common went to $5-$6 on two separate occasions?
Once the headlines hit, there will be a move (all IMO). Treading now.
Again, I see this being one pen-swipe away now... we knew (suspected based on Otthing comments) it was coming... now we really know it is coming... we've been told by the leader of the free-world (who gets to make he & himself a lot of money).
Don't need Pauly to talk about the Palace intrigue and personalities, etc. Just need to see Trump's edict to US TSY.
See you in Vegas!
SimSla
Mar 27, 2019, 3:21:41 PM3/27/19
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Now Mnuchin is officially tasked to come up with a release plan. This gives him cover from any inquiries from Congress. I expect to see the detailed plan coming from Treasury pretty soon.
Europegoodold
Mar 27, 2019, 3:24:43 PM3/27/19
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True, the progress today is that Trump (not only his underlings) officially has a commitment, and this one is a slam dunk that Congress can't prevent. Well, we knew this for 2 years, and much longer, unfortunately no one was ever asking us. :-)
P.S. Pauly, never mind please, I like your contributions, keep up the good spirit.
Chris Roberts
Mar 27, 2019, 3:35:27 PM3/27/19
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"I expect to see the detailed plan coming from Treasury pretty soon."
Like tomorrow? Friday? Monday?
Two weeks?
One month?
Recall Otting said "within weeks" and that was like 2 months (if you count today as end-date)
We all know Mnuchin has been meeting with Moelis people. Moelis has stated they have had meetings when they submitted their "Blue Print". He's got that plan, Are there others? Sure - we've had merger, utility, and in the past govt. corporation, co-op, etc. The KISS theory says: Moelis. I go with Moelis.
I am not holding my breath on any date.
Given the Otting fiasco, I think (maybe genius) is to let the media prognosticate and have the weather-balloon take a temperature.
Over the past few weeks they've debated whether admin action was cool. Now, they can debate whether Moelis is cool.
End-date is near.
Pauly Montreal
Mar 27, 2019, 3:43:15 PM3/27/19
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:) I've only been in trade actually three years to the day, so yer all way smar....well you already knew that :). But again, ain't done jack yet. We all know, Otting said as much, plan has been signed off on, so time to get off their butts. How intense can COngress resist given their theft is worst kept secret? Ahh, who the hell knows anything anymore, anyways. I trimmed commons to 80 and upped jr's to 29 this month. Anyways, I hope it works our for you all, especially beach boy. That mofo has been in this dog for an effing decade. Good for him, and you all. All it took was Trump Potus. Meantime, Devil(da big one) is in da deets. Peace, out.
SimSla
Mar 27, 2019, 3:45:50 PM3/27/19
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Soon is a relative term in GSE land.
This will drag on till the end of 2020. At best we can hope after 5th circuit en banc (August-September).
How do you recap when you have active litigation going on?
You can't announce the Senior preferred paid off because Congress will skin you alive for giving away taxpayers' money.
You can't entice new shareholder to put in new capital because the way HERA is applied by the courts (so far) shareholders do not have any rights whatsoever and FHFA can take over these companies at will.
Soooo stock up on patience.
Chris Roberts
Mar 27, 2019, 4:10:16 PM3/27/19
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Soon is a relative term in GSE land. >>> Been here since July 2008
This will drag on till the end of 2020. At best we can hope after 5th circuit en banc (August-September). >>> No, it won't. Yes. Recap will have stages but Stage 1 (per Moelis) is the swap of common. The last stage in 2020 is sale of last bit of US common.
How do you recap when you have active litigation going on? >>> Easy $25 / $50 swaps to common and most are satisfied. Lawsuits moot.
You can't announce the Senior preferred paid off because Congress will skin you alive for giving away taxpayers' money. >>> No, because no giveaway, per John Paulson, $100B. Are they trading $187 for $100B? Okay, that might be the case. I've asked that question before. We shall see. You might have a point there.
You can't entice new shareholder to put in new capital because the way HERA is applied by the courts (so far) shareholders do not have any rights whatsoever and FHFA can take over these companies at will. >>> Yes, you can, because as even Paul Muolo knows, WS is salivating to get in on ground floor here.
Soooo stock up on patience. >>> Mnuchin plan... that will be the next step and wasn't it you that said "pretty quick".
SimSla
Mar 27, 2019, 4:20:56 PM3/27/19
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I understand your impatience. I am in this since September 2008. Unfortunately you are using logic to solve this problem. The thing is this is fraud and you need the courts to solve fraud.
Europegoodold
Mar 27, 2019, 4:26:40 PM3/27/19
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Unfortunately during a decade every important court decision (besides Lamberth 2.0, and the preliminary rulings of Jugde Sweeney) was negative for shareholders. Trust in the judiciary has been damaged too.
SimSla
Mar 27, 2019, 4:30:44 PM3/27/19
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All the court cases we lost were APA ( Administrative Procedure Act) cases. On one of the Investors' unite calls a leading attorney said we should not expect to win any of them and if we do win anything it will be gravy. Sweeny is what matters. ( We did not have the unconstitutional claim back then)
Europegoodold
Mar 27, 2019, 4:34:46 PM3/27/19
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Remember the slam dunk Delaware case? :-)
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SimSla
Mar 27, 2019, 5:02:33 PM3/27/19
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That one was a bummer
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Europegoodold
Jul 17, 2019, 5:02:43 PM7/17/19
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From Paul Muolo/IMF today:
"Forget about, for now, all this chatter regarding a possible delay in the Trump administration’s plan to reform (and release?) Fannie Mae and Freddie Mac from the shackles of conservatorship. We’re told by an attorney who works for one GSE (and requested anonymity) that any such plan cannot go forward without the Federal Housing Finance Agency first releasing its new regulation on capital requirements. Sources who claim to have talked to the Trump administration about the capital rule said it will not be out until December…
The FHFA told IMFnews on Wednesday the agency is not discussing any timetables at this point. For more on the story, see this Friday’s edition of Inside MBS & ABS. The story will also touch on the issue of “implicit” versus “explicit” MBS guarantees for Fannie and Freddie Mac…"
Europegoodold
Jul 17, 2019, 5:23:53 PM7/17/19
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The thread title turned out to be dead wrong obviously -but I love how the word imminent gets more ironic day by day.
Mnuchin, before entering his office: one of my top priorities
Calabria, before entering his office: illegal, illegal, illegal
Trump, while in office: all geniusses on Wall Street get involved
From drama to comedy and rinse and repeat.
If it's a rant, I apologize.
Duncan Macleod "Beta"
Jul 17, 2019, 5:31:16 PM7/17/19
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thanks Euro gold- i am getting weary of this rinse n repeat.
Europegoodold
Jul 17, 2019, 5:31:18 PM7/17/19
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Last thought for today:
Perhaps it take this long to get a denial from the Supreme Court to hear an appeal against the decision in the Collins case (favorable for our side, as we hope and pray).
Am Mittwoch, 17. Juli 2019 23:02:43 UTC+2 schrieb Europegoodold:
From Paul Muolo/IMF today:capital rule... will not be out until December…
Duncan Macleod "Beta"
Jul 17, 2019, 5:35:08 PM7/17/19
to Fannie and Freddie Preferreds and Commons Message Board
saw this:
U.S. HOUSING FINANCE REGULATOR SAYS U.S. GOVERNMENT REPORT ON HOUSING FINANCE REFORM IS "ESSENTIALLY DONE," EXPECTS RELEASE IN LATE AUGUST, SEPTEMBER - INTERVIEW
Europegoodold
Jul 17, 2019, 5:46:47 PM7/17/19
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Remember this:
Mike SP
Jul 17, 2019, 5:50:51 PM7/17/19
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It's so old, i forgot
Europegoodold
Jul 17, 2019, 6:00:13 PM7/17/19
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I wish to live at least until the Collins ruling comes out and some good old-fashioned humiliation of the Treasury's behaviour and a batch of appropriate castigation from the judges for all those disgraceful actions by the administration appear before my slowly tiring eyes.
Bryndon Fisher
Jul 17, 2019, 6:55:51 PM7/17/19
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What we need now can only come from our courts - we need justice.
Europegoodold
Jul 18, 2019, 9:23:01 AM7/18/19
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Please take a look at the Treasury, Mr.President.
hellbentonholding
Jul 18, 2019, 9:45:48 AM7/18/19
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Calabria said he expected the Treasury will in the report back some form of government guarantee for Fannie and Freddie. But he said he planned to advocate for a guarantee limited to the mortgage-backed securities issued by the pair, rather than a government backstop for the companies themselves.
Soooo...the government will insure the insured product? Am I misunderstanding this? Are the gses necessary? Is this the FMIC envisioned by Barry and the Bandits?
Letgoofmyfannie
Jul 18, 2019, 10:00:09 AM7/18/19
to Fannie and Freddie Preferreds and Commons Message Board
that's just His Three Card Monte Patter "watch the lady, watch the lady..."
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