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

[Midas79]

It's going to be high theater watching Trump try to deal with a Democrat-controlled House. High comedy too.

Evidently, Maxine Waters proposed a bill in 2014 to wind down FnF. Mnuchin has shown no desire to do that, so does that (and the fact that the Dems have the House) shut the door on legislative reform? I'm trying to think of what common ground there could be between Trump and the House, and I'm just not seeing enough of it to make a difference.

I do not remember maxine wanting to liquidate FnF.  that certainly was hensarling

It was both.

https://democrats-financialservices.house.gov/uploadedfiles/media/file/003%20maxine%20waters%20legislation/gse%20bill/waters_046_xml.pdf

TITLE V—WIND DOWN OF FANNIE MAE AND FREDDIE MAC

She might have changed her mind since then, though. This was in 2014.

[cherzeca]

I believe the midterms were a net positive for the GSEs. If (big if) legislative path is on the table (I think this remains very low probability, many hurdles to overcome), Maxine Waters and more importantly PAT TOOMEY are important allies. More probable, I believe midterms were positive because it puts congress in a gridlock and gives admin the green light and cover to go ahead and administratively execute a recap release more swiftly than if it was an all GOP congress.

The market seems to agree today.

agreed.  and while nothing will happen on 11/16, something will happen on 1/6/19...watt's term will end.  trump likely will not want to see him continue in an acting capacity, and so will likely appoint someone who has already gotten senate confirmation...perhaps mulvaney or even Mnuchin, while someone below director will be appointed to do actual work and eventually secure senate confirmation.   

[cherzeca]

It's going to be high theater watching Trump try to deal with a Democrat-controlled House. High comedy too.

Evidently, Maxine Waters proposed a bill in 2014 to wind down FnF. Mnuchin has shown no desire to do that, so does that (and the fact that the Dems have the House) shut the door on legislative reform? I'm trying to think of what common ground there could be between Trump and the House, and I'm just not seeing enough of it to make a difference.

I do not remember maxine wanting to liquidate FnF.  that certainly was hensarling

It was both.

https://democrats-financialservices.house.gov/uploadedfiles/media/file/003%20maxine%20waters%20legislation/gse%20bill/waters_046_xml.pdf

TITLE V—WIND DOWN OF FANNIE MAE AND FREDDIE MAC

She might have changed her mind since then, though. This was in 2014.

yes, I see that she has her name on the file but as I recall this was written by hensarling and the R staff at HFS.

the more I think about maxine as head of HFS, the more ludicrous it seems to me that anything she would support re GSEs would be acceptable to administration.  there is just so much animus. trump calling her a low IQ individual, maxine calling for his impeachment while other progressives like warren have been saying let's wait and see what Mueller says.  maxine has been a huge critic of the administration's "tear down" of the cfpb.  yes politicians can and often do get beyond the name calling and get stuff done, but I wouldn't bet on it in this case.

[rros]

Mnuchin?
Never thought of that...

[muscleman]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

[cherzeca]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

brilliant if trump does

[Luke 5:32]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

brilliant if trump does

The Federalist thinks it's a good idea: https://thefederalist.com/2018/11/07/yes-president-trump-replace-jeff-sessions-janice-rogers-brown/

[Midas79]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

If so, would she have to recuse herself on matters involving the GSE cases? Seeing as she has already written an opinion on one of them.

[cherzeca]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

If so, would she have to recuse herself on matters involving the GSE cases? Seeing as she has already written an opinion on one of them.

that is not so clear to me...that may be a question for DOJ internal policies.  certainly if the reverse was true, a former Atty Gen now become judge, she couldn't be deciding the case as judge that she was involved in as Atty Gen.  but in posited situation, not sure why not

[Luke 5:32]

Sessions resigned. Will Judge Brown be nominated to DOJ ? 

brilliant if trump does

The Federalist thinks it's a good idea: https://thefederalist.com/2018/11/07/yes-president-trump-replace-jeff-sessions-janice-rogers-brown/

She has talked with The White House about it recently and also worked with Kavanaugh in the past...

"Janice Rogers Brown, who is African-American and well-liked in conservative circles, served alongside Supreme Court Justice Brett Kavanaugh and spoke to the White House about the job in recent weeks, the Sacramento Bee reported."
https://www.foxnews.com/politics/former-kavanaugh-colleague-among-group-being-considered-to-replace-sessions-as-ag-reports