hardincap

I believe this is highly likely. After all, one of the first things Mnuchin starts every interview with is "I've followed these companies closely for 30 years..." He might as well say, I'm an expert and don't need help on what to do here but I'm a politician now so I might as well make people think they have input so they can tell their constituents they were involved in the outcome. when has he started interviews that way? i know he said that at his conf hearing but im not aware of any interviews. the fact that he hired craig philips and assigned him to housing reform shows he really is exploring all options and isnt wedded to any one path In multiple interviews he has. Just look at any videos I've posted of him since November and he makes a point to mention it the majority of the time if asked about GSE's. out of 5 interviews i heard him say this once--"its something i know alot about..."--1/5 is far from "every interview" if he really didnt need/want help figuring out what to do, why hire craig philips? purely for optics?

I believe this is highly likely. After all, one of the first things Mnuchin starts every interview with is "I've followed these companies closely for 30 years..." He might as well say, I'm an expert and don't need help on what to do here but I'm a politician now so I might as well make people think they have input so they can tell their constituents they were involved in the outcome. when has he started interviews that way? i know he said that at his conf hearing but im not aware of any interviews. the fact that he hired craig philips and assigned him to housing reform shows he really is exploring all options and isnt wedded to any one path

read tim howard's blog. he basically pooh poohs the whole report

i dont think he actually meant absolutely to privatization. its important not to read too much into somewhat ambiguous statements, a la senator brown speaking of "current settlement negotiations" a while back

great article, thx for sharing. this is what #fanniegate-ers should be focusing on--real facts and figures--not obamacare conspiracy theories, corker, or even the nws

ft:

Joe light reporting that Fhfa on record said sweep will go through

reuters:

http://ln.is/morningconsult.com/2/d7krD

Calabria: It's too early for the Trump admin to have a GSE reform plan but expect to release a set of principles in next couple months

also notice the dividend payment is already included in cumulative dividends paid

check the following url on the 31st: https://www.fhfa.gov/DataTools/Downloads/Documents/Market-Data/Table_2.pdf

"Mr. Mnuchin and Mr. Donovan will tackle not only changes to the corporate and individual tax codes but also the potential restructuring of the government-sponsored mortgage guarantors Fannie Mae and Freddie Mac."

only 8-9 months left until zero capital (!), so you may be right

from a political angle, its probably better for him to wait until later in the year when he has fully developed a proposal for what to do with the gses going forward. then he can say "we've studied this thoroughly and decided recap is necessary to preserve the health of the mortgage market." what does he lose by waiting?

Attorney General Jeff Sessions asks remaining 46 US attorneys appointed by Obama to resign http://www.businessinsider.com/sessions-asks-obama-appointed-us-attorneys-to-resign-2017-3 may not change anything wrt gse cases

meeting is focused on dodd frank regulatory relief. probably unlikely f&f gets much if any airtime edit: yep no talk of f&f http://www.icba.org/news-events/press-releases/2017/03/09/icba-community-bankers-meet-with-president-trump

?? phh was argued by ted olson, who is with gibson dunn I dont think the fundraiser connection means anything

epstein: https://www.forbes.com/sites/richardepstein/2017/03/03/d-c-circuit-refuses-to-see-limits-to-government-power-and-inexcusably-upholds-the-net-worth-sweep/#60c13b0a4167 "The great tragedy of the majority opinion is it follows the all-too-common practice of giving the government a free pass when its own motives are as corrupt, or more so, than comparable private parties in similar roles and with similar legal duties."

also want to point out that tim howard stated pre-ruling that if the nws is upheld as legal, f&f shares will be worthless. now, he has drifted to saying he believes mnuchin will administratively end the sweep. he was overconfident we'd see a favorable ruling. are longs committing the same mistake w mnuchin?

is anyone else spooked by the parallels between our read on mnuchin and our read on ginsberg? we thought ginsberg was a fav judge because: -he is friends with the lead P lawyer and epstein -he leans conservative as member of the federalist society -he said the right things during oral hearing (motivation matters, rebuking govnt lawyers, "salt the earth") all of these have parallels in mnuchin: -friends w/ paulson, lampert, maybe berk -finance bias from 30 yrs exp in mortage finance -said the right things on cnbc and at hearing

big deal that buffett says we dont need f&f. hes saying berko and ackman are wrong to insist theres no viable alternative edit: he does concede that the government will need to play a central role in sponsoring 30 year mortgages. i dont get where he is going with supporting private insurers though. the whole point of f&f is to have an entity based model at an enormous scale, something private insurers wont be able to achieve on their own

Did you expect this ruling?

"Ginsburg may have just wanted to bury Fannie and Freddie and saw an opportunity" there are judicial conservatives and judicial activists. the former is likely to side with a narrow reading of hera text. latter is likely to interpret hera more widely. neither approach is perfect and both have blindspots; no need to accuse of malintent

would a positive ruling in lower ct on breach of k wrt liquidation prefs likely involve awarding damages based on the share price at the time? how else would damages be calculated?