muscleman

http://video.foxbusiness.com/v/5417475089001/?#sp=show-clips 03:56 Mnuchin was asked about the priority of privatization of FnF. His answer was that he did not say he will privatize FnF. He only said he will do housing reform. Do you think this is just a typical politician talk that leaves options open or is he changing his mind? I remember last November he said FnF should return to the private market.

http://thehill.com/policy/finance/331386-trump-mulling-breakup-of-wall-st-banks I think this may be a positive signal. I've long heard Mike Pence is banker's friend and long wondered whether he is big banks or community banks' friend. This news along with the recent ICBA events seem to indicate he is community bankers' friend, which is good for FnF.

I always felt like some insiders know and trade this stock accordingly. ex. Bob Corker. FNMAS has been dropping for a few days before the Lambeth ruling. Maybe this time some proposal favoring pref but unfavorable to common came out and gaining some traction. ::)

I don't think it's that strange. In Mnuchins world a prfd share means there's an obligation and expectation of greater safety vs. a common share. Money used by Obama from FnF should have first gone to prfd divs. My bet is at the end of all this prfd's are made whole and commons are the sacrificial lamb. Can't say that HF's were made rich when you have one of the most outspoken (Pershing) getting crushed. Paulson and Berkowitz supported the admin early on, but Ackman never did. I'd think the most rational thing for the government to do is to exercise its 79% warrant and max the price of the common stocks it can sell.

This is strange. https://www.google.com/finance?q=OTCMKTS%3AFNMA&ei=z2EHWZCsNc6P2AbXsaGABg https://www.google.com/finance?q=OTCMKTS:FNMAS&ei=yGEHWfCeL4GJ2Ab8gL7ACw Today FNMAS went up first and then had a minor dip. At the same time FNMA took a nose dive.

Craig Phillips is definitely controversial. But since he played such central role if f*ng up FF he may also know where to plug the holes. And that may be Mnuchin's idea. We really cannot say why he would float ideas from receivership to Corker/Warner to statu/quo. That, by itself, may mean nothing. I would only rely on what Mnuchin has been saying -and said today- from day 1: "as is", taxpayers are at risk. I think floating all kinds of ideas is just trying to be thorough. They would have pros and cons written for each proposal. The problem is whether they have written the pros and cons objectively. If they do, the chp 11 plan and the Corker plan would be the worst compared to others.

Bartiromo: "There's been a conversation on Twitter and has been for a long time that President Obama needed money for Obamacare and he would take from all the agencies and he took from Fannie and Freddie. Is that true?" Mnuchin: "It's true. They used the profits of Fannie and Freddie to pay for other parts of the government while they kept taxpayers at risk." Mnuchin has been very vocal that one of his main goals with housing reform is to make sure the taxpayers are not at risk. Here he makes a clear connection that using profits of GSE's to fund other programs keeps taxpayers at risk. Careful. He retracted in the past. This time he could say "I have never said FF's profits were used to pay for Ocare. I said they were used to pay for other parts of the government". I think the point is that he said "They used the profits of Fannie and Freddie to pay for other parts of the government while they kept taxpayers at risk.". I think the most important thing is not whether the money is used to pay for Obamacare or some transgender male's prostate annual exam. The important thing is that he agreed taking profits from FnF will make tax payers at risk. Therefore it should be stopped.

definitely. Thank you Luke. Please keep posting.

"We still essentially have a government monopoly and we're repeating many of the same mistakes" Is that still the same old narrative that FnF are monopolies and they should have been replaced and the many big banks should launch competitive business lines? This statement could mean anything to anyone. Bob Corker would interpret it the above way I think. But people on this board would think it means releasing FnF.

This continues to worry me. Receivership -> create new legal entity ala MBA proposal. Seems this Craig Phillips is not the best person to be in charge. Also, receivership > liquidation preference > Jrs. at par (provided Trump does away with the Srs. on Jan 2018. Depending on how the 265 bn already paid to treasury is counted. If that's counted as dividend, then the current sr notes are still outstanding, so receivership would pay them back first and there will be no money left for jr preferreds. And the appeals court decision would suggest they are counted as dividends !!!! Tough question for the crowd. I have held this for years. But is this really an investment any more ?? But if the company declares chp 11 within two years after large sums of money are paid out as dividends, that's a fraudulence conveyance case. For a private party, no matter what they do in this situation, it is illegal. But for the government, it seems that nothing is illegal no matter what. ::) Even Trump and the white house lost the immigration case and sanctuary city funding case. I kinda felt like Obama is still ruling this country through his tight control of the liberal judges.

Can you give an example of how you got a specific used GM stupidly cheap? I noticed that American cars probably have huge discounts even for new cars. I bought a Ford Mustang in 2015. The MSPR was 27000 or 29000. I forgot. But I got it for 22000 plus 0 down 0 interest loan for 6 years. Recently I was considering a Chrysler Pacifica limited. The MSRP was 44k and they said they could sell at 36k.

This continues to worry me. Receivership -> create new legal entity ala MBA proposal. Seems this Craig Phillips is not the best person to be in charge. Also, receivership > liquidation preference > Jrs. at par (provided Trump does away with the Srs. on Jan 2018. Depending on how the 265 bn already paid to treasury is counted. If that's counted as dividend, then the current sr notes are still outstanding, so receivership would pay them back first and there will be no money left for jr preferreds.

When I look at the new car sales, I see these two have a lot of leased cars as the % of new car sales. US cars have caught up in recent years but there is the concern that this year 3 million cars coming out of lease will damage the used car values. Does anyone know how the Japanese cars maintained the values while having a high % of leases?

Can't read the content. Mind posting here?

Sounds like Watt doesn't have the guts to really do what he is supposed to do.

Hmm....... Does Craig's wide-ranging ideas contain one that look like ICBA's? It sounds ridiculous to propose that a highly profitable company should declare bankruptcy. I heard Mike Pence is the banker's friend. But I see that the community bankers and big banks are quite divided on this issue. Does anyone know if Pence is the friend of the community banks or the large banks?

Yeah..... I am sure the GOP wants to see what Obama has been stone walling for so many years. Unfortunately Bob Corker and his gangs will try to block this so his own dirty dealings won't be seen. I hope this bill could pass.

Sad that Jason Chaffetz is resigning. He seems to be one of the few guys who have guts to fight against corruption.

Are you kidding me? The Democrats right now vote no on every bill no matter what. Why would you want this kind of senseless people in Congress?

@luke. i noticed that there were some errors in the article originally posted that have since been cleaned up. FHFA's argument is that HERA provides blanket cover. So even if you do this and set up a precedent, it is not going to work.

Only on a few questions that the court didn't clearly address, such as the contractural claims' purchase timing. Thanks. I can't believe the court spent 10 months to write a ruling with so many factual errors and questions that they only hastily considered.

Only on a few questions that the court didn't clearly address, such as the contractural claims' purchase timing.

Thank you. Any insights on this guy?

LOL..... I've seen traders doing that after wiping out their leveraged commodity/option accounts. I've yet to see traders doing that when their position still have a floating profit. If you are not comfortable, take the small profit and call it the day. I do agree that the unrealized gain have diminished by a lot after the Perry Appeal ruling, but the lesson I learned over the years is taking small profits can be detrimental. (You can't go broke taking profits? No!) Trade or invest to your sleeping point. If you can't, it's time to look for greener pastures. There is always a bull market somewhere. That's 100% true. The problem is that people's sleeping point tend to move. People always find it easier to sleep in a bull market than a bear market or a pull back during a bull market. It is important to keep the sleeping point stable and invest below that sleeping point. :) But this is far easier said than done.

LOL..... I've seen traders doing that after wiping out their leveraged commodity/option accounts. I've yet to see traders doing that when their position still have a floating profit. If you are not comfortable, take the small profit and call it the day. I do agree that the unrealized gain have diminished by a lot after the Perry Appeal ruling, but the lesson I learned over the years is taking small profits can be detrimental. (You can't go broke taking profits? No!)