Rodney5
42 분 전
Questions for SCOTT Bessents,
If confirmed as Secretary of Treasury will you publicly announce that Fannie Mae and Freddie Mac were not bailed out, did not need a bailout, and the term ‘bailout’ has been used and continues to be used to mislead the people of the United States in thinking the companies needed a bailout? That the companies were adequately capitalized when Treasury Secretary Paulson met with the directors of Fannie Mae and Freddie Mac to inform them of his intent to take over their companies, neither entity met any of the twelve conditions for conservatorship spelled out in the newly passed HERA legislation. Paulson since has admitted he took the companies over by threat?
If confirmed as Secretary of Treasury will you publicly announce before the take down of the companies Treasury Secretary Paulson was unaware that the FHFA Regulator had sent both Fannie Mae and Freddie Mac letters saying the companies were safe and sound and exceeded their regulatory capital requirements. Paulson told FHFA Director Lockhart that he had to change his agency’s posture on the two companies, and FHFA did exactly that. FHFA sent each company an extremely harsh mid-year review letter, and two days later, Paulson, Lockhart and Fed chairman Bernanke met with the companies’ CEO's and directors to tell them they had no choice but to agree to conservatorship?
If confirmed as Secretary of Treasury will you publicly announce the FHFA forced Fannie Mae and Freddie Mac into a contract with the United States Treasury by Senior Preferred Stock. The Senior Preferred Stock Purchase Agreement is not a law: The SPSPA is an illegal contract between Treasury and FHFA as conservator of the two companies. The Charter Act, FHEFSSA and HERA passed by Congress is the supreme law of the land that governs the two companies?
If confirmed as Secretary of Treasury will you publicly announce Fannie Mae and Freddie Mac's regulatory guidelines would have prohibited the companies form paying dividends to the Treasury while severely under-capitalized, but the FHFA suspended those guidelines because the regulator wanted the companies to have to draw more senior preferred stock from the Treasury to pay the annual dividends in cash, ballooning their outstanding senior preferred stock and increase their required annual dividends. FHFA and its Director are executive branch entities and cannot make changes to federal laws. Only Congress can change the law. Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee?
If confirmed as Secretary of Treasury will you publicly announce Charter act prohibits the commitment fees (Seniors, warrants, variable liquidation preference). More importantly the actions of Treasury to appropriate 200 billion in taxpayer debt, take non regulatory control of the companies through the SPSPA (require Treasury permission at least 10 separate times) and ownership of more than 50% of the companies requires them under the GAO act and the CFO act to consolidate the GSEs onto the nations balance sheet. The fact that that hasn't happened means the Treasury has violated the 14th amendment to the Constitution by repudiating the 5 trillion plus in debt the Treasury has acquired through their actions since 2008. Their actions have resulted in a takings of the entire enterprise value of the formerly private companies. These actions have necessarily turned the GSEs back into agencies of the executive branch as they were originally created. This is the definition of a major question and also a separation of powers problem since Congress did not authorize the actions Treasury took and continues to take? In addition 'Deferred Tax Assets' the Treasury forced the companies to write down and record these non-cash expenses making the companies appear bankrupted. Fannie Mae and Freddie Mac were no where near bankrupted?
If confirmed as Secretary of Treasury will you publicly announce “maximize profits for taxpayers" is NOT written in the Charter Act? Specifically, in this provision entitled Fee Limitation of the United States:
Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise. The United States prohibition on assessment or collection of fee or charge to Fannie Mae, (section 304 Fee Limitation). Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309)?
If confirmed as Secretary of Treasury will you publicly announce the Senior Preferred Stock, with a variable liquidation preference outlined in the SPSPA and its amendments and share certificates is a new product for the purposes of the Safety and Soundness Act of 1992 as amended by HERA?
Congress directed the Director of FHFA to apply the Administrative Procedures Act to the new products sold to Treasury. The FHFA did not follow the administrative procedures congress required in the plain language of the safety and soundness act?
The Director of FHFA as regulator violated the safety and soundness act and the administrative procedures act by not following the statutory duty to approve new products issued by the GSEs to Treasury for the purpose of stabilizing the secondary mortgage market?
The law required the publication in the federal register of the SPS with their variable rate liquidation preference tied to the commitment. It requires a public comment period, and a rule making process to make the SPS legal. It is the same law that required the capital rule. And the same law that required FHFA a year ago issue the new products law for MBS products. They have ignored this requirement for 15 years?
Director Lockhart Regulator, and Director Lockhart Conservator. Holding both positions as Regulator and Conservator; Conservator Lockhart is required by law to file notice to himself as Regulator.
The Safety and Soundness Act required Director Lockhart as regulator not conservator to approve a new product issued by Director Lockhart acting as conservator FHFA-C (SPS with variable liquidation Preference) to Treasury under the terms of the SPSPA for the purpose of carrying out the secondary mortgage market. He was required as regulator to file notice in the federal register, seek public comment and issue federal regulations for the new product we call the Senior Preferred shares sold to Treasury?
If confirmed as Secretary of Treasury will publicly announce the CFO act requires the Treasury department based on published accounting standards to determine if their actions of funding through appropriations, ownership of 100% of the GSEs net worth and non-regulatory control of the GSEs through the SPSPA require the consolidation of the GSEs liabilities onto the nations balance sheet. Do the actions of Treasury under the SPSPA require such consolidation under the plain language of the Chief Financial Officers Act?
If confirmed as Secretary of Treasury will you publicly announce that the violations disclosed above will change the posture of the Treasury Department? And reference HERA and precedent, Federal Statutes do not allow the Treasury to attach a commitment fee onto the Senior Preferred Stock. THEREFORE, by reason of Federal Statute, the Treasury owes the companies the overage payment on $191.4 billion total draws from Treasury, plus compounded interest; (recommended interest payment at a compounded rate of return 10%, in conjunction with the amount the FHFA recommended to the Treasury? That the SPS will be determined as paid and the liquidation preference cancelled returning the companies back to the Shareholders?
JSmith5
3 시간 전
I like this answer best:
Question 71: Should the Trump Administration bar any individuals or entities who would
financially profit from the end of Fannie and Freddie’s conservatorships from discussions and decision-making about potential release?
Answer: If confirmed, I look forward to hearing from a wide and diverse range of interested parties in seeking the best path for Fannie Mae and Freddie Mac in compliance with applicable law as set by Congress.
Thanks Fully Diluted - I read the Q&A earlier yesterday and was surprised no one had commented on this answer as it really jumped out at me.
You have to take into consideration that he did not write this - Transition Team staff did. So its not just some off the cuff remark by him, but the official policy of the administration. You also have to take into consideration place and time. This is DC and we just came off the election - there are a lot of favors to pay back - both financial and otherwise. And we saw Monday at noon, in real time, who the biggest beneficiaries are going to be. John Paulson wasn't there because he was some lost tourist who got off the South Capitol St Metro exit and wandered into the Capitol looking for a public restroom. (Maybe that's why Biden was there?)
I would surmise that much of the recent rise in the GSE stock price has got to be related to the Pelosi effect. DC, after election, pay back time. Makes sense?
Thanks again Fully Diluted for noting this as its really, really telling.
Nats
TightCoil
9 시간 전
7 Days above $5
Date - PPS - Volume
Jan 21 - 7.01 35,380,100
Jan 17 - 6.91 36,487,200
Jan 16 - 5.40 41,137,700
Jan 15 - 6.21 46,566,200
Jan 14 - 7.04 53,693,000
Jan 13 - 5.49 16,501,000
Jan 10- 5.26 24,269,000
kip128932156
13 시간 전
Scott Bessent, nominated by President Donald Trump for the position of Treasury secretary, has expressed a commitment to ending the conservatorship of Fannie Mae and Freddie Mac. He emphasizes the need for a careful and thorough process for recapitalization and release, highlighting that the conservatorships, which have lasted over 15 years, should not be indefinite. Bessent has stated that any steps towards ending the conservatorships should be designed and executed with precision to protect mortgage credit availability and improve housing affordability across the country. He acknowledges the necessity of working with Congress for any structural changes to the GSEs, such as providing an explicit government guarantee or regulating returns to investors. Additionally, Bessent mentioned that the Treasury should be compensated for its past support of the GSEs, although he would need to consult legal counsel on the specifics. His statements come in response to queries from Senators Elizabeth Warren and Raphael Warnock, indicating a collaborative approach with lawmakers and regulatory bodies like the Federal Housing Finance Agency to ensure the process aligns with legal frameworks. $fnma $fmcc americanbanker.com/news/bessent-w…
https://x.com/freefannie/status/1881873615370797116?s=46&t=L_hszGlrG7Qfo9Ksmln_mQ
navycmdr
14 시간 전
A look at Bill Pulte, Trump’s choice to run the FHFA
Pulte is an activist investor, philanthropist and Trump supporter
Jeff Bond - January 21, 2025
https://www.scotsmanguide.com/news/a-look-at-bill-pulte-trumps-choice-to-run-the-fhfa/
Government-Sponsored Enterprises, Mortgage, Regulation and Compliance
Bill Pulte, the man President Donald Trump has nominated to serve as director of the Federal Finance Housing Agency (FHFA), is known as a businessman and a philanthropist. If confirmed by the Senate, Pulte would lead the independent agency that oversees Fannie Mae and Freddie Mac, government-sponsored agencies that are crucial to the running of the real estate market.
Pulte is an unconventional choice for running the FHFA. While he is a Trump supporter, he has no government experience. His history of philanthropy and private equity activist investing is not the typical career path for agency administrators. Some experts have even surmised that Trump tapped Pulte because he would accelerate the privatization plans for Fannie Mae and Freddie Mac.
Pulte is the founder and CEO of the private equity firm Pulte Capital Partners. He is also chair of The Pulte Family Office, which also invests in companies, and the former director of PulteGroup, Inc., the public real estate development company that was started by his grandfather, William J. Pulte, who died in 2018.
Pulte has been greatly influenced by his grandfather’s interest in philanthropy. He wrote in a guest column for the Florida Times-Union in 2021 that his grandfather, who grew up poor in Detroit during the Depression, felt a duty after becoming successful to help those less fortunate. His passion was helping “the poorest of the poor,” Pulte wrote of the real estate magnate.
That passion to give back was passed on to the elder Pulte’s children and to his grandchildren. Grandson Pulte, himself, supports a number of philanthropies and launched the Detroit Blight Authority, which works to stabilize neighborhoods in the city. He has also become a well-known “Twitter philanthropist.”
He wrote in the Times-Union column that one day it dawned on him that Twitter, now known as X, was “the perfect platform to use to reach people in need across the world.” He maintains he’s used X to give away more than $1 million as well as three cars. He writes that the amounts he’s given to individuals have varied from $50 to $25,000. “I help everyone and anyone from cancer patients to single moms, U.S. citizens and people internationally,” Pulte wrote.
Pulte has spoken publicly about how President Trump has helped him raise tens of thousands of dollars in donations on X for military veterans over the years.
Beyond his philanthropic interests, Pulte has also made a name for himself as an activist investor. In December, Pulte, as chair of The Pulte Family Office, an activist shareholder in Virtu Financial, a financial data management company, called on the business to sell itself to either a private equity firm or to another public company. If the company doesn’t explore a sale, Pulte is threatening to force a proxy vote or take other actions.
Pulte lamented the current CEO, “is not focused on building a materially bigger business and spends precious time tweeting on items not related to the core operations of the company.”
On Jan. 15, Pulte announced that The Pulte Family Office had bought shares in GrabAGun, an online firearms retailer that also sells other outdoor products. The company is about to go public through a business combination with Colombier Acquisition Corp. II.
“Much like the First Amendment, the Second Amendment must be protected, and we believe there is no better way to exercise this belief than by investing in GrabAGun,” Pulte said.
Hot Features
프리미엄
같은 생각을 가진 투자자들과 토론할 수 있는 활발한 포럼에서 상호 작용하려면 등록하세요.
trunkmonk
2 시간 전
Wingsjr
2 시간 전
Stern is Bald
4 시간 전
RickNagra
8 시간 전
Fully Diluted
9 시간 전
Ace Trader
10 시간 전
GVInvestments
12 시간 전
