FNMA and FMCC preferreds. In search of the elusive 10 bagger.

[CorpRaider]

Mnuchin asked for it and then Gary Cohn knee capped him like five minutes later. 

[Guest cherzeca]

if congress hasnt passed housing reform before budget expires in septemberish (likely) and corker tries to put another jumpstartish provision in any budget bill to prevent administrative reform, it would be interesting to see if mnuchin takes that as a breakdown in the let's work together pact

[Midas79]

if congress hasnt passed housing reform before budget expires in septemberish (likely) and corker tries to put another jumpstartish provision in any budget bill to prevent administrative reform, it would be interesting to see if mnuchin takes that as a breakdown in the let's work together pact

 

I didn't think Corker's stated stance was "let's work together" as much as "don't do anything at all, we'll handle this."

 

I agree that Corker trying to insert such a rider might prompt Mnuchin to act quickly. Hopefully he has enough connections to find out as soon as something like that is attempted.

[muscleman]

dod frank revision passed.

Now Watt's job in danger.

Is this good? Bad?

[rros]

dod frank revision passed.

Now Watt's job in danger.

Is this good? Bad?

danger? Why? This is not a bill yet. And will it ever pass the Senate in the current form?

[Desert_Rat]

It passed via an almost unanimous GOP vote - 233-186. If the GOP were as this together on every policy, Ocare would be dead, housing and tax reform would already be in effect, terrorists would be screwed, and this place on earth would be a much rosier place.

 

It will fly through the senate, and Trump has already signed the bill as he suspects he'll be busy golfing that day.

 

[Sunrider]

More interestingly - with the Muppet in Chief spending his next months trying to character assassinate Comey and second-guessing his own shadows in pursuit of the special investigator, and many loyal sycophant Republicans trying to support him in this respect ... does that make Mnuchin more or less likely to do something without a distracted congress/house?

Thanks.

[waynepolsonAtoZ]

Giving up the NWS would be a problem re the debt ceiling issue. Hope for the best though.

 

[merkhet]

It will fly through the senate, and Trump has already signed the bill as he suspects he'll be busy golfing that day.

 

It's not expected to pass the Senate in its current form -- though I'll be curious to see what parts of this bill are retained in the Senate version.

[Desert_Rat]

Did you get that from WashPo or NYT? Bwahahahahaha!

[merkhet]

Did you get that from WashPo or NYT? Bwahahahahaha!

 

Literally every news outlet.

 

Here's the Journal:

 

https://www.wsj.com/articles/house-set-to-pass-bill-rolling-back-wall-street-rules-1496914205

 

The House of Representatives passed legislation Thursday that would unwind financial industry regulations. The bill isn’t likely to pass in the Senate.

 

The pair haven’t announced any plan. Republicans and Democrats in the Senate so far have only been able to agree on relatively minor changes to Dodd-Frank.

 

That means the Senate is unlikely to take up some of the more controversial provisions in House bill, according to a GOP Senate aide, such as the 10% leverage ratio for regulatory relief, reduced powers of the consumer bureau, and repealing the Orderly Liquidation Authority in Dodd-Frank for the government to unwind a failing financial firm.

 

Mr. Hensarling said he is looking for ways to push pieces of the plan through the Senate without Democratic support by attaching some measure to the annual budget bill, which passes on a majority vote. Some of those provisions include the Orderly Liquidation Authority measure, reducing the CFPB’s powers and eliminating the Office of Financial Research, created to study financial risks.

 

“We’ll look for every opportunity to get as much of the Financial Choice Act on President Trump’s desk as is possible,” Mr. Hensarling said.

 

But hey, I'm sure you know more about the chances of the bill passing through the Senate in its current form than the author and main proponent of the bill. You should send Hensarling a note. Let him know everything is fine.

[Guest cherzeca]

bill isaac likes the moelis blueprint, in American Banker:  https://www.americanbanker.com/opinion/new-gse-proposal-seeks-to-fill-capital-void

[Desert_Rat]

Did you get that from WashPo or NYT? Bwahahahahaha!

 

Literally every news outlet.

 

Here's the Journal:

 

https://www.wsj.com/articles/house-set-to-pass-bill-rolling-back-wall-street-rules-1496914205

 

The House of Representatives passed legislation Thursday that would unwind financial industry regulations. The bill isn’t likely to pass in the Senate.

 

The pair haven’t announced any plan. Republicans and Democrats in the Senate so far have only been able to agree on relatively minor changes to Dodd-Frank.

 

That means the Senate is unlikely to take up some of the more controversial provisions in House bill, according to a GOP Senate aide, such as the 10% leverage ratio for regulatory relief, reduced powers of the consumer bureau, and repealing the Orderly Liquidation Authority in Dodd-Frank for the government to unwind a failing financial firm.

 

Mr. Hensarling said he is looking for ways to push pieces of the plan through the Senate without Democratic support by attaching some measure to the annual budget bill, which passes on a majority vote. Some of those provisions include the Orderly Liquidation Authority measure, reducing the CFPB’s powers and eliminating the Office of Financial Research, created to study financial risks.

 

“We’ll look for every opportunity to get as much of the Financial Choice Act on President Trump’s desk as is possible,” Mr. Hensarling said.

 

But hey, I'm sure you know more about the chances of the bill passing through the Senate in its current form than the author and main proponent of the bill. You should send Hensarling a note. Let him know everything is fine.

 

I don't know more, but when you compare my level of inside knowledge (zip) to MSM's deliberate attempts to undermine this administration, with apparently all information they have at their disposal reported opposite of truth, mine rules. They will always report failure. I, on the other hand, look at the GOP votes and see smooth sailing. Bet that's the case too.

 

[merkhet]

When I said every news outlet, I did actually mean every.

 

http://www.breitbart.com/economics/2017/06/08/house-passes-bill-repeal-replace-post-crisis-wall-street-rules/

 

Although it is supported by the Trump White House, the bill is unlikely to pass the Senate. Democrats have signaled their ongoing support for Dodd-Frank and view the Choice Act as letting banks “off the hook” for the financial crisis.

 

Even Breitbart, hardly MSM, thinks the bill is unlikely to pass the Senate. (And yes, unfortunately, the byline on this one is John Carney, which I'm sure will spawn shouts of "fake news" here.)

 

The reason every news outlet is basically unanimous that this version of the bill will not survive the House is that the GOP does not have the 60 votes needed to override a filibuster. That's also why the Senate is moving ahead with its own version of the bill that's different than the House version.

 

It's a free country, though, so I suppose you can continue to believe what you want to believe.

 

To be clear, I'd love the FHFA modification to remain in the Senate version. I have no idea if it will or not. That's why I stated earlier:

 

It will fly through the senate, and Trump has already signed the bill as he suspects he'll be busy golfing that day.

 

It's not expected to pass the Senate in its current form -- though I'll be curious to see what parts of this bill are retained in the Senate version.

[SnarkyPuppy]

Did you get that from WashPo or NYT? Bwahahahahaha!

 

Literally every news outlet.

 

Here's the Journal:

 

https://www.wsj.com/articles/house-set-to-pass-bill-rolling-back-wall-street-rules-1496914205

 

The House of Representatives passed legislation Thursday that would unwind financial industry regulations. The bill isn’t likely to pass in the Senate.

 

The pair haven’t announced any plan. Republicans and Democrats in the Senate so far have only been able to agree on relatively minor changes to Dodd-Frank.

 

That means the Senate is unlikely to take up some of the more controversial provisions in House bill, according to a GOP Senate aide, such as the 10% leverage ratio for regulatory relief, reduced powers of the consumer bureau, and repealing the Orderly Liquidation Authority in Dodd-Frank for the government to unwind a failing financial firm.

 

Mr. Hensarling said he is looking for ways to push pieces of the plan through the Senate without Democratic support by attaching some measure to the annual budget bill, which passes on a majority vote. Some of those provisions include the Orderly Liquidation Authority measure, reducing the CFPB’s powers and eliminating the Office of Financial Research, created to study financial risks.

 

“We’ll look for every opportunity to get as much of the Financial Choice Act on President Trump’s desk as is possible,” Mr. Hensarling said.

 

But hey, I'm sure you know more about the chances of the bill passing through the Senate in its current form than the author and main proponent of the bill. You should send Hensarling a note. Let him know everything is fine.

 

I don't know more, but when you compare my level of inside knowledge (zip) to MSM's deliberate attempts to undermine this administration, with apparently all information they have at their disposal reported opposite of truth, mine rules. They will always report failure. I, on the other hand, look at the GOP votes and see smooth sailing. Bet that's the case too.

 

You're quite literally out of your mind.

[Desert_Rat]

When I said every news outlet, I did actually mean every.

 

http://www.breitbart.com/economics/2017/06/08/house-passes-bill-repeal-replace-post-crisis-wall-street-rules/

 

Although it is supported by the Trump White House, the bill is unlikely to pass the Senate. Democrats have signaled their ongoing support for Dodd-Frank and view the Choice Act as letting banks “off the hook” for the financial crisis.

 

Even Breitbart, hardly MSM, thinks the bill is unlikely to pass the Senate. (And yes, unfortunately, the byline on this one is John Carney, which I'm sure will spawn shouts of "fake news" here.)

 

The reason every news outlet is basically unanimous that this version of the bill will not survive the House is that the GOP does not have the 60 votes needed to override a filibuster. That's also why the Senate is moving ahead with its own version of the bill that's different than the House version.

 

It's a free country, though, so I suppose you can continue to believe what you want to believe.

 

To be clear, I'd love the FHFA modification to remain in the Senate version. I have no idea if it will or not. That's why I stated earlier:

 

It will fly through the senate, and Trump has already signed the bill as he suspects he'll be busy golfing that day.

 

It's not expected to pass the Senate in its current form -- though I'll be curious to see what parts of this bill are retained in the Senate version.

 

You're implying that all these different sources send their own reporters to research when you know that's not true. This opinion is based on one thing: That house Dem's won't support it or anything else from the GOP. That's an assumption. It's a real good one but I'm willing to bet that near 100% GOP support, which is a nice change, plus 6 figure 'donations' from the banking sector to a half dozen Dem's will get it done. The financial services industry has been itching for this for a long time, and even many Dem's hate its over-regulation.

 

Of course there will be minor changes because no bill has ever passed without pork being added or subtracted, but on the whole it should pass intact.

 

BTW, I just made a statement about the bill passing, which I think it will. That doesn't mean that I care if it does or doesn't re: FnF. Pres should have ability to replace Watt, else Watt could do whatever he pleases, but I don't think he would anyway. Watt seems to be doing a fine job. As far as Choice act eliminating bailouts Trump has already stated no more. So the CA specifically doesn't mean much to us, IMO, although any bill being passed into law should mean a substantial uptick in FnF because it suggests other bills, like housing, may succeed too.

 

[Luke 532]

Fannie guy to be part of Treasury...

 

http://financefollow.com/2017/06/fannie-maes-brooks-to-be-nominated-u-s-deputy-treasury-secretary-axios/

[Guest cherzeca]

Fannie guy to be part of Treasury...

 

http://financefollow.com/2017/06/fannie-maes-brooks-to-be-nominated-u-s-deputy-treasury-secretary-axios/

 

he may be a fannie guy, but he is even more a mnuchin guy

[Luke 532]

Fannie guy to be part of Treasury...

 

http://financefollow.com/2017/06/fannie-maes-brooks-to-be-nominated-u-s-deputy-treasury-secretary-axios/

 

he may be a fannie guy, but he is even more a mnuchin guy

 

Agreed.

[Desert_Rat]

I'll take that as a yep!

 

 

 

[merkhet]

I'll take that as a yep!

 

Take what as a yep?

[Luke 532]

Moelis plan must be bad as both commons and preferreds have not done well since it was released.

 

I recommend reading chapter 8 again of The Intelligent Investor.

[Flynnstone5]

I read it as someone had posted here before. I still don't get it what is in Chapter 8 that makes this investment go down every day and a losing proposition since last 8 years when the companies are making $10 billion dollar with close to 1 billion shares i.e $10/pps and if you take p/e of 7, that is $70.00/share. Each penny is taken away and we are to keep reading chapter 8?

 

 

Moelis plan must be bad as both commons and preferreds have not done well since it was released.

 

I recommend reading chapter 8 again of The Intelligent Investor.

 

No offense, but you're sounding more and more like the iHub board.

[Luke 532]

Each penny is taken away and we are to keep reading chapter 8?

 

Yes, that's correct.

 

What do you folks read?

 

Books about investing written by millionaires and billionaires.  It beats reading message board posts written by people that are not millionaires and billionaires.

[Luke 532]

I mean what do you read on GSE's? The problem here is all the money taken away from GSE's every quarter wouldn't be credited back. So it is all lost. That is why it is painful. If it came back, that would be a different scenario and can understand.

 

I read this message board.  I have running e-mail conversations with a handful of people.  I read the proposals that are put out, but realize they are just that... proposals.  And I sit and wait.  It's important to realize as a young investor that much of investing is sitting and waiting and doing nothing.  You do not need to constantly scrutinize an investment and read-up on it daily.  Write down your thesis and read the stuff that impacts your thesis (whether positively or negatively), not stuff that doesn't.

 

Sure, money being returned would be ideal and probably the right/moral thing to do.  With that said, I do my best to separate ideal situations from probable situations.