Changes ahead for Fannie Mae, Freddie Mac?

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BACK OF THESE WERE FIGHTING IT IS FALLING ON THANKSGIVING DAY.

FILIBUSTER RULES COULD PAVE THE WAY FOR BIG CHANGES AT FANNIE MAE AND FREDDIE MAC, GOVERNMENT-BACKED MORTGAGE GIANTS.

PETER BARNES JOINING US FROM CAPITOL HILL.

HE BROUGHT US THE HEADLINES.

WHAT IS THE TEXTURE OF THE STORY THAT MATTERS TO OUR INVESTMENT VIEWERS? THE PRESIDENT NOMINATED A DEMOCRATIC CONGRESSMAN TO RUN THE FEDERAL HOUSING FINANCE AGENCY WHICH IS THE REGULATOR OF FANNIE MAE AND FREDDIE MAC.

FANNIE AND FREDDIE ALONE OR IN SHORT $10 TRILLION IN MORTGAGES AND $87 BILLION TAXPAYER BAILOUT BACK WHEN THE HOUSING MARKET CRASHED IN THE FINANCIAL CRISIS.

REPUBLICANS BLOCKED THE NOMINATION LAST MONTH.

THEY WERE CONCERNED THIS EVEN TERM CONGRESSMAN DIDN’T HAVE ENOUGH EXPERIENCE IN BUSINESS AND FINANCE TO RUN THE $4 TRILLION AGENCY.

THEY ALSO FEARED HE WOULD PUSH MORE LOAN FORGIVENESS AND MORTGAGE REFINANCINGS AT FANNIE AND FREDDIE, SOMETHING THAT THE ADMINISTRATION HAS FAVORED BUT WHICH CRITICS SAY COULD COST THE TAXPAYERS EVEN MORE MONEY BUT NOW IT LOOKS LIKE THERE WILL BE ANOTHER VOTE IN THE SENATE AND IS LIKELY TO GET THE JOB THANKS TO THE CHANGES IN THE CONFIRMATION RULES.

IT WORKS WHEN WE CAN GET SOMEBODY CONFIRMED TO HAD AN AGENCY THAT HAS AN IMPORTANT ROLE TO PLAY WHEN IT COMES TO EMPOWERING AND HELPING RESPONSIBLE HOMEOWNERS AND REFORMING THE GSPs.

AN ANANALYST FOR HYPE RESEAR SPECULATES THEY COULD CAP THE T.A.R.P.

BAILOUT FUND FOR ADDITIONAL MONEY, TAXPAYER MONEY TO HELP MORE STRUGGLING HOMEOWNERS WITH THEIR MORTGAGES, $20 BILLION IN UNUSED MONEY IN THE T.A.R.

P.

FUND.

YOU THOUGHT T.A.R.

P.

WAS GONE.

THERE IS STILL MONEY LEFT OVER THERE, IN PARTICULAR TO HELP STRUGGLING HOMEOWNERS BUT I WANT TO POINT OUT TO BE FAIR FANNIE AND FREDDIE HAVE MADE A FORTUNE IN THE HOUSING REBOUND, AND ARE PAID BILLIONS OF DOLLARS IN DIVIDENDS TO THE TREASURY PRETTY MUCH EQUAL TO THE $17 BILLION BAILOUT.

THANK YOU FOR OUR MONEY BACK BECAUSE TREASURY, THAT IS OUR MONEY.

PETER BARNES, THANK YOU VERY MUCH, CLOSING BELL RINGING IN 50 PLUS MINUTES.

THE HELP SHAKE COMPANY THAT CAN’T BE SHAKEN EVEN AS ACTIVIST


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