Luke 532

And apparently Trump is meeting with Mnuchin, Cohn, and Mulvaney today. Where are you guys getting this information? Jennifer Jacobs twitter feed. She's a White House reporter for Bloomberg. Who's Trump discussing federal budget with at lunch? Priebus, Bannon, Kushner, Cohn, Mnuchin, Mulvaney, Russ Vought, Emma Doyle.

Orthopa nailed it. (only quoted a portion to not clog the board) So, one of the major cases was Perry Capital vs. Jack Lew (Secretary of Treasury) *Jack Lew was knee-deep in the 2012 net worth sweep heist during the Obama Administration. Steve Mnuchin becomes Secretary of Treasury, so the case is now: Perry Capital vs. Steven Mnuchin (Secretary of Treasury) *Mnuchin has stated he wants to recapitalize Fannie and Freddie (exactly what I want as a preferred shareholder). No details on how he wants to do it. Interesting notes: Mnuchin, prior to becoming Secretary of the Treasury, was on the Board of Sears Holdings (SHLD). Bruce Berkowitz, the largest single holder of preferred shares in Fannie and Freddie, is also on the Board of Sears Holdings. Berkowitz publicly endorsed Trump during the campaign. Think Mnuchin and Berkowitz never even casually mentioned Fannie and Freddie? Mnuchin stated during his Senate confirmation hearings that he believes parties of a contract should honor their obligations. Preferred shares are essentially a contract between the investor and company. Berkowitz has also publicly and explicitly stated that he simply wants his contractual rights as a preferred shareholders to be honored. Perry and Berkowitz both have separate lawsuits against the government. Both are fighting the 2012 net worth sweep. Both have huge positions in the preferred shares. Neither (as far as I know) have big positions in the common stock. The Perry vs. Jack Lew case is now pretty much Preferred Shareholders vs. Friends of Preferred Shareholders.

Mnuchin as Treasury, not Mnuchin personally.

Thoughts/analysis from the attorneys on the board? Thanks in advance.

Remand. Stage is set for settlement. Opinion for the court filed by Circuit Judge Millett and Senior Circuit Judge Ginsburg. Dissenting opinion filed by Circuit Judge Brown. Remand_2-21-2017.pdf

Gee, I wonder if this is going to settle? ;D

Whoa, read what the real Tim Howard just said. FHFA may be on board, finally.

Regardless of what someone thinks of him that article I posted is still really good. I tend to focus on the message instead of the messenger.

A good SA article (I know, I know...) http://seekingalpha.com/article/4046185-protected-designation-removal-first-positive-gse-omen-new-administration

Good article, and I don't usually say that about SA. Furthermore, Fannie Mae is set to report earnings on Friday of this week. We are going to be watching extremely carefully as the company reports. Members of Trump's administration have commented that Fannie and Freddie are near first on the list for Mnuchin to take care of as Secretary of Treasury, and we can't help but wonder if we are going to possibly get news about the fate of the net worth sweep as early as Friday of this week.

Agreed.

Mnuchin just got sworn in, it's official.

Mnuchin cloture passes 53-46. He's going to be the Secretary of Treasury, you can count on it... just have to wait until the vote Monday around 7pm to make it official. I know it's not over until it's over, but come on... this situation is like being up by 25 points midway through the 3rd quarter of the Super Bowl... it's in the bag! ;)

My view on why is mentioned in chapter 8 of The Intelligent Investor.

Sessions confirmed moments ago. :D

:) Chuck Cooper emerges as Trump's likely choice for solicitor general https://www.yahoo.com/news/chuck-cooper-emerges-as-trumps-likely-choice-for-solicitor-general-132121716.html

+1

Richard Epstein's latest... Fairholme's Big Win on Discovery http://www.forbes.com/sites/richardepstein/2017/02/06/fairholmes-big-win-on-discovery/?utm_source=yahoo&utm_medium=partner&utm_campaign=yahootix&partner=yahootix#775c4d7271bf

I have FNMAS, FNMAH, and FMCCL, in that order of current dollar amounts. Of those 3, liquidity is best on FNMAS and discount to par is best on FMCCL. FNMAH is in the middle on both metrics. I haven't bought any shares in the past 10 months, own too much already.

Let's remember, Mnuchin said he hadn't looked into the legal issues. He could easily look at NWS and think "I don't like it, I'm going to end it" without technically looking into the legality of it. Mnuchin: "I have divested my interest in the fund as well already. My job is to look out for best interest for taxpayer, maintain housing liquidity, whatever the legal issues are I haven't studied that at all."

Trump's calendar shows he plans on signing executive orders today at noon. Buckle up. (my emphasis added on "executive order" in quote above)

Gary Cohn: "So, the GSE reform is definitely on our agenda. Treasury Secretary designee Steve Mnuchin has been spending a lot of time working on that. Once he gets approved and confirmed Steve will be taking that on as one of his early priorities. So we definitely have some plans in place to work on that, and hopefully he gets approved as soon as possible."

Wow, could be a big day.

Mnuchin and Sessions are on the Senate calendar for today, but I doubt the Senate gets to their votes as there is a bunch of stuff on the docket: https://www.senate.gov/legislative/LIS/executive_calendar/xcalv.pdf

not yet, Senate still needs to vote (instead of just the committee)