#Fanniegate Fan. Trial summaries are based on handwritten notes and not complete or exact transcripts. I own FnF shares and am not impartial but try to be fair.
Joined March 2022
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Please support my policy proposal to privatize Fannie Mae and Freddie Mac to raise $200 Billion for administration priorities!
forum.policiesforpeople.com/…
FnFan retweeted
Shareholders filed their response to FHFA's en banc petition on Oct 1. 3,890 words out of 3,900. Full filing + my
walkthrough:
glenbradford.com/blog/shareh… $FNMA #FANNIEGATE
FnFan retweeted
How the US government seized a public company. The tale of Fannie and Freddie (F2) $fmcc $fnma
Step 1:
Leading up to the 2008 housing bubble, several banks lent people mortgages and then misrepresented the risk when they had F2 underwrite the mortgage. Years later, the federal government would sue many of the banks on behalf of F2 and billions would be awarded.
fhfa.gov/document/rbs-settle…
FnFan retweeted
To reduce mortgage rates, @SecScottBessent and @pulte should direct @FannieMae & @FreddieMac to buy MBS above a 180 bp spread, providing a valuable and temporary backstop bid here.
It would help bring in more MBS buyers & make a real difference for younger Americans.
FnFan retweeted
I’m bored, so a few, quick thoughts…
The silly $500B valuation is so Treasury can show full value on paper for the ~$340B SPS LP conversion to common plus $100B+ warrants plus a sliver (i.e., <10%) for legacy shareholders.
“Great American Mortgage Corporation” is very concerning at first… except (a) if in reference to CSS / US Housing FinTech or (b) for the November 2025 timing (because I don’t see how they merge Fannie and Freddie or work through receivership by the end of the year).
Expect some clarifying comments soon. Too important for memes and rampant speculation.
Now what? Landmines still everywhere for $FNMA and $FMCC common (especially, IMO, with $500B confirming full SPS LP conversion). All JPS series like $FNMAS $FMCKJ etc. still seem properly priced to me; defer to others to speculate on opportunities for value between series. And also not out of the woods yet…
🎇GSE BIG BANG🎇™️ in TWO WEEKS™️!
FnFan retweeted
Interesting. I will look into these Obama items, if available, as it relates to our Agency and the GSEs.
Matt Taibbi on why the Obama administration is trying to keep 11,000 documents sealed rol.st/1NjjA61
FnFan retweeted
Property taxes are an assault on the American dream. If you work hard and pay off a home, no one should be able to take it from you. Property tax makes everyone a renter with the worst landlord of all time: The Government. Ban property tax and restore the American dream!
FnFan retweeted
There is an existing capital rule in place. They can exit without a new capital rule. While I agree the capital is excessive, there is no reason it can’t be re-proposed after exit.
Great coverage on some of the motivations keeping the GSEs in conservatorship from @JarndyceJ
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Great thread on the wider picture behind falsely blaming the GSEs from @Ny1david
Contempt for engaging in debate, using the metrics of capitalism, often reflects a contempt for business ethics. ("What's the point?" they say.) Instead, GSE critics quote one another and pander to financial illiteracy. A thread 1/
xitter.cf/carney/status/18853926…
FnFan retweeted
Contempt for engaging in debate, using the metrics of capitalism, often reflects a contempt for business ethics. ("What's the point?" they say.) Instead, GSE critics quote one another and pander to financial illiteracy. A thread 1/
xitter.cf/carney/status/18853926…
But this is all just crazy conspiracy theories to real journalists like @carney and @CGasparino. Who needs SEC documents and facts when you have ego and inside sources.