hardincap

this ruling has major hazardous implications for the financial markets, as brown states rather forcefully. would love to know how the SC decides this

"though the investors' leverage is diminished a whole lot" since takings case is unaffected and arguably matters most, doesnt this make no difference to how mnuchin negotiates with pref investors?

@cherz, do u see sweeney following this ruling in the ct of claims? does the breach of k claims have legs?

not totally surprised here. like it or not, lamberth's narrow reading of hera's anti injunction bar is not an invalid one, as demonstrated here. but brown's judicially activist reading isn't invalid either. judge g was the toss up for me and now we know

agreed, winds seem to be shifting at the doj but id like to see more evidence before reaching any conclusions

on feb 8, fhfa filed with the court opposing fairholme's request to present more discovery materials on feb 9, counsel for usg agreed to remove "protected information" designations pretty inconsistent, no? sessions was confirmed feb 8

looks like we can see those protected docs soon http://www.glenbradford.com/wp-content/uploads/2017/02/perry1.pdf

theres been very narrow trading range for the common the past few weeks. im not into TA much but that seems to suggest a whale is trying to get out or sell short.

my biggest concern is lamberth II. you never know. im actually hoping mnuchin settles with Ps before dc court rules on the appeal

wsj: "Mr. Cohn laid out a road map for how the Trump administration plans to target new financial rules. He said the Treasury Department would lead an effort to overhaul mortgage-finance giants Fannie Mae and Freddie Mac, which were put into government conservatorship after the crisis." says nothing about EO on fnma. i think we'll have to wait until mnuchin gets confirmed.

its clear now mnuchin was being deliberately coy in senate hearings. this seems to favor the gses, because why be coy if you wanted to reform the gses (what warner wants)?

if we get lamberth ii, shareholders would be in for another blizzard of uncertainty. im not sure mnuchin/trump will want to take the political risk of "rescuing" the shareholders in that scenario, though im not sure if f&f can be successfully restructured if they screw the shareholders ive gone 100% once before, but that co had tons of cash, tons of fcf, zero debt, growing, etc, and the absolute worst case was maybe a 20% loss. here, your investment can theoretically go to zero

what a silly stunt by the dems. they gained absolutely nothing and painted themselves as obstructionists, giving trump more fodder for his "clear the swamp" schtick

notice how bruce elides by the notion of rolling back NWS. he says let GSEs retain capital. so if you let them retain capital, how do you do that, do you leave NWS intact, but you just dont declare the dividend? not bloody likely. i dont know why he states his position more clearly. saying unwind the NWS seems self-serving whereas "retain capital to protect taxpayers" sounds benevolent and distracts from the self serving aspect of it

http://www.fairholmefundsinc.com/Reports/Funds2016Annual.pdf havent sold a single share and allowed f&f to be ~40% of his fairx portfolio (as of today)

how long can the dems delay mnuchin confirmation for?

I write to alert the Court to the decision in In re United States, No. 17-104 (Fed. Cir. Jan. 30, 2017), which in large part upheld an earlier ruling by the Court of Federal Claims that was the subject of a letter Fairholme sent this Court under seal on September 22, 2016. The Federal Circuit’s decision requires the Government to produce 48 of 56 contested documents relating to the Net Worth Sweep, including the specific documents discussed in Fairholme’s September 22 letter. The Federal Circuit’s ruling, which followed in camera review of the 56 documents in question, also strongly suggests that on remand the Government will be required to produce a substantial portion of the approximately 12,000 remaining documents that it has withheld for privilege in the Court of Federal Claims litigation.1 Treasury has acknowledged withholding documents from its administrative record in this case based on the deliberative process privilege, and the Federal Circuit’s ruling further confirms that it used an unjustified and overbroad standard when doing so. If this case is remanded to the district court, it is apparent that significant additional documents will have to be added to the administrative record. See Institutional Plaintiffs’ Reply Br. at 5–6 (Mar. 8, 2016). Fairholme has not yet received the 48 documents that the Federal Circuit’s decision requires the Government to produce, but Fairholme anticipates than many of those documents will provide significant insight into the central factual disputes in this case.

Mark Warner ‏@MarkWarner More I'm voting NO on Steve Mnuchin for @USTreasury. He is not the right candidate to help Americans succeed in this economy.

isnt this somewhat a subjective judgment? frankly, i dont trust the appellate judges to get this right without adequate time to gain a full understanding of the nws. sweeney has spent 3 years on this so far and unequivocally concluded these documents matter. this almost seems like a cop out excuse

http://www.glenbradford.com/wp-content/uploads/2017/01/17-1122-0018.pdf

its official, government has won writ in part. what we presumed to be the most damaging docs (white house communications) were granted writ, so they wont be unsealed. im disappointed no one except carney saw this coming..

Brown seems to be against mnuchin as treasury sec: Sherrod Brown ‏@SenSherrodBrown 9h9 hours ago Mnuchin cannot be trusted to make decisions abt policies as personal to Ohioans as their taxes & retirement-SB

it confirms what we already knew: that mnuchin is not dumb or ideological enough to try to kill the gses lets hope the trump admin doesnt blow itself up before mnuchin gets to do anything.. i know its hard to impeach a president but its hard to see how the trump presidency is sustainable if it continues to generate the level of outrage and anxiety its generating

thomas sowell on janice brown: http://townhall.com/columnists/thomassowell/2003/10/21/a_lynch_mob_gathers conservatives have traditionally opposed the GSEs bc they dont believe the government has any business essentially subsidizing mortgages janice brown is conservative to her bones. in the perry case, she has to choose between the lesser of two evils: the NWS and the preservation of the GSEs. i would think a true conservative like her would find the NWS far more unpalatable, but those responsible for the NWS obviously thought the latter to be so

run up today may be due to pershing's annual update presentation: http://www.valuewalk.com/wp-content/uploads/2017/01/2016-PSH-Annual-Update-Presentation-FOR-DISTRIBUTION-1.pdf