TonyG

corker knows somethings up. he alluded to it.. "somethings changed"

https://assets.pershingsquareholdings.com/media/2014/09/24092735/2017-Annual-European-Investor-Presentation-FINAL.pdf ackman thinks trump admin. will work with congress to reform fannie and freddie.

Mnuchin is probably letting it play out a bit longer. He needs to be able to defend his decision when he ultimately selects a path forward and explain why it's the best one for the mortgage industry.

TBW, 200k ppl read that blog post? woah. nice. keep it up

as much as i don't want the sweep to go through, it makes sense for it to go through now. This way mnuchin in a few months can come out and say"after a long time researching this, there is no alternative to fannie and freddie". which than makes sense to settle lawsuits, and recap them.

missed that guy

"Fannie Mae and Freddie Mac were the largest detractors. This came after a federal appeals court upheld a ruling that barred investors from suing to overturn the US government's 2012 decision to change the bailout terms to the "net worth sweep" of all profits generated. Whilst the development is a setback and disappointing, we never based our analysis on the court cases. In February, Treasury Secretary Steven Mnuchin reiterated his commitment to housing reform and ending government ownership of the two companies. Despite the volatility, we believe there is considerable upside to our holdings and a high probability of a resolution before the end of 2017" http://www.schroders.com/getfunddocument?oid=1.9.2241573 Paulson fund.

what gets me about that quote is they have had almost 10 years. how much longer do they want?

cherzeca, how would they argue differently? as in what would they say if they did argue differently?

also they kind of need it to happen before tax reform or else the DTAs get written down and they need to bail them out. unless they are comfortable with a bailout.

https://www.bloomberg.com/news/videos/2017-02-22/what-will-happen-to-gses-under-the-trump-administration smart guy

if perry appeals en banc, and the entire bench agrees, does this void the opinion put out yesterday?

snarky, you could say they won't do that because 1) taxpayers are exposed, and 2) mnuchin and trump aren't going to be around forever. 4 maybe 8 years. in 4 years he can collect 10-15B a year. with the swipe of his pen he can collect many multiples of that in one day. but i don't know if he will. he did, though, write the GSE's need to be capitalized in the senate letter so i don't think one ruling will really affect his thinking (I'm hoping)

if he wipes existing shareholders doesn't he wipe out warrants? unless he just dilutes commons a lot (which isn't beneficial to the warrants). So in a way he needs us and we definitely need him no?

mnuchin is going to be on cnbc tm at 7am for what its worth

So do they gotta turn these over asap?

isn't that huge? Seems like he is tipping his hand more in this letter than in front of senate committee.

I agree (more from the echo chamber). "restructure" and "privatize "is definitely different that what we have been hearing for past 8 years where everything has been about "reform". I think its a good thing he hasn't said anything else about the GSE's so as to not give people ammunition. Also Watt has warned about lack of capital last year so I think he would be open

also, this could be why sell off today http://www.americanbanker.com/bankthink/gse-recap-experiment-is-just-a-sideshow-1092871-1.html where accordingly line of credit is capital.

I wasn't saying with the Obama admin. I was saying talks with Mnuchin to work out details that can be implemented first couple of weeks of the new admin. No way in hell i believe Obama will settle

What are the odds settlement talks are occurring right now? This way as soon as new admin. gets into white house they can hit the ground running. Just thinking out loud

Steve thats from the fake timhoward site.

https://www.bloomberg.com/news/articles/2016-09-27/richard-perry-walks-away-hoping-he-ll-get-a-shot-at-vindication "While he’ll be returning much of their money next month, Perry has told clients that he probably won’t be ready to sell a few of his investments for a year or more. Chief among them are preferred shares in Fannie Mae and Freddie Mac. Perry and other shareholders sued the government in 2013, saying it improperly diverted more than $130 billion in profit from the mortgage companies to the U.S. Treasury. That suit was dismissed in 2014. Perry appealed and is awaiting the judge’s ruling."

Paying attorney fees.. as in government was wasting everyones time? or does that mean something else?

Seems to quote Lamberths decision throughout it all. Still see it as a negative as well.