Luke 532

Senate committee votes to confirm Senator Jeff Sessions as U.S. attorney general, confirmation now moves to full Senate for vote.

think about what mnuchin is likely thinking to himself.....here is a possible thought balloon: "hmmm, i would love to act on a bipartisan basis with democrats on GSEs. but let's see, sherrod called me a liar, and dems boycotted my committee vote. maybe time to rethink how practical it is for me to try to be bipartisan..." Christian, great point.

Anybody have a hypothesis on when the vote on the Senate floor will take place? Is this week possible, probable, etc.?

Senate Finance Committee votes to suspend rules requiring Democrats to be present for votes on Mnuchin and Price, then confirm nominations.

Hatch is a stud. Two days of Democrat boycotting and Hatch goes ahead with the vote. On to the Senate floor!

I have been trying to find that out unsuccessfully. Hatch did say he was going to try to schedule another vote later today. I may have misheard him but I think Hatch said something like if 1 Democrat was present they would be able to vote. Don't quote me on that.

I think this move pretty much cements Mnuchin as Secretary of Treasury. Go ahead and act like a child and take your ball and go home by boycotting... that's not going to win any Republican votes against Mnuchin which they needed to have a chance for him to not get the confirmation.

Senate Finance Committee Chair... paraphrased "We're clearly going to have these two go through and be recommended. I'm disappointed that the Democrats are boycotting this vote."

Gretchen Morgenson's latest... Court Orders Justice Dept. to Release Fannie Mae and Freddie Mac Documents https://www.nytimes.com/2017/01/30/business/fannie-mae-freddie-mac-fairholme-appeal.html?smid=tw-share&_r=0 “This is a sweeping victory for the plaintiffs and, more broadly, for the rule of law and transparency in our government,” Charles J. Cooper, chairman of Cooper & Kirk, which is representing Fairholme Funds, said in a statement. “It is clear from the Court of Appeals’ unanimous ruling that the vast bulk of the 11,000 documents withheld by the government will now have to be disclosed to the plaintiffs and the courts, and we are confident that these documents will further discredit the government’s defense narrative.”

apparently at dems request https://twitter.com/peteschroeder/status/826177232792125440 You don't call timeouts at the end of a football (American) game unless you're going to lose and need more time. Likely the same situation here. Apparently Democrats asked to delay the vote because they're having a candlelight vigil tonight in response to Trump's executive order on refugees.

apparently at dems request https://twitter.com/peteschroeder/status/826177232792125440 You don't call timeouts at the end of a football (American) game unless you're going to lose and need more time. Likely the same situation here.

Joshua Rosner seems to think so per the attached images.

Agreed, although I wish Mnuchin would have played it a bit closer to his chest. If he gets approved we are in excellent shape.

I made an edit that reflects my opinion. :-)

http://www.washingtonexaminer.com/senate-panel-to-vote-on-treasury-candidate-mnuchin-monday/article/2613221 Mnuchin vote on Monday

9 million shares of FNMAS traded so far today.

Yes, it would be a classic Trump move. It would also be justice coming full circle for Obama and the others involved in the heist and I'd welcome it.

Obama would have to take Trump at his word that he won't release the docs and he'd also have to rely on Watt to carry out the wishes of his previous boss against those of his current boss. Tricky to say the least.

Then I think there's a real possibility settlement is in the works. The Obama administration had absolutely nothing to gain and everything to lose by keeping these cases going after the election. And not even Obama himself, but more so those "fellow travelers" who wouldn't want to risk unsealing those emails. Why risk that knowing Trump/Mnuchin are going to settle regardless? Time will tell..the longer there is complete radio silence, the more likely this is imo. Wouldn't surprise me at all. I've thought for a long time, as many of you have, that Obama's best and most logical move was to get this wrapped up before he left office. I still think it's reckless on his part, from the perspective of his personal risk, to ultimately put the power in Trump's hands. Perhaps that's why Trump and Obama have been reported to be talking so much behind the scenes. Anyway, settlement or not, I think we're golden.

+1 Well said Agreed. Well said, Steve.

Overall, I think Mnuchin did a good job and didn't say/do much that would prevent him from getting the job. I'm happy with a guy like him at the head of Treasury, and even more pleased given my substantial investments in FNMAS, FNMAH, and FMCCL.

+1

Paraphrased... Warner: "hedge funds went in and bought them cheap and launched campaign, Trump and you invested in one of those funds, in light of your firm commitment to not recap and release" (my note: Mnuchin didn't say that, he didn't commit to that!) 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." (Mnuchin didn't comment this time on Warner's assertion that Mnuchin commited to not recap and release).

It might be worthwhile to note that earlier in the hearing, when asked about the debt ceiling and the idea that some politicians want to simply ignore paying certain debts, Mnuchin was very clear that the US will pay its debts and obligations as they are contracts/agreements. He wasn't discussing Fannie and Freddie but rather national debt to foreign nations, but his comments struck me as somebody that strongly believes in the power of honoring a commitment and the importance of honoring contracts (think preferred share contracts).

Crapo: "they are in receivership, keep them there or recap them and put back on the market." Mnuchin (paraphrased): "I am an expert on Fannie and Freddie. Need reform and solution, status quo is not acceptable of leaving them there. Need to make sure outcome includes taxpayer not at risk and don't eliminate capital for the housing markets."