Recent Updates from the Investors Unite Blog
Watch Bob Corker Tell Americans to “Short” Shares of Fannie and Freddie
Wednesday, October 7th, 2015
In an interview with Rick Santelli on CNBC today, Senator Bob Corker (R-TN) told viewers to “short” shares of Fannie and Freddie. We’ve never seen a U.S. Senator comment on securities prices or give advice on securities trading before, and we’re guessing that you haven’t either. Here’s the clip from CNBC:
Corker’s bias against shareholders and shareholder rights has been consistent in recent years, even as he has championed his own agenda for GSE reform that entails giving Fannie and Freddie’s business away to the big banks. In his interview today with CNBC, the Senator continues this bias by accusing shareholders of wanting to “fleece the American people.” This outrageous statement ignores the fact that shareholders are the ones who have been fleeced, their rights trampled by the Third Amendment Sweep, which is a violation of the law governing the conservatorship of Fannie and Freddie.
Furthermore, we find it quite interesting that Senator Corker would go on CNBC to tell a financial audience to short a stock, or to make predictions on a stock’s performance, especially given his legislative activity surrounding the companies involved. Our readers may recall that former Corker staffer Michael Bright, who was a primary author of the Corker-Warner legislation, took a job at Blackrock last year. According to public sources, Blackrock was heavily involved in lobbying for the bill’s passage and would have been a major beneficiary. Read more about this here.
Some questions need to be answered:
1) Who else benefits from Bob Corker’s GSE Reform agenda, and is he fully disclosing his ties to these interests?
2) Why would he go on CNBC to comment on stock prices, even going so far as to recommend that viewers short a stock?
3) Isn’t it unprecedented for a Senator to do something like this?
More to come…
Read more Investors Unite blogs here
Risk-Sharing Is No Substitute for Capital at Fannie and Freddie
American Banker - October 5, 2015
CHLA unveils plan for massive GSE reform, ending profit sweep
housingWire - September 28, 2015
Better Luck Next Year: Fast-Track GSE Legislation And Convocation Of Court Cases
Seeking Alpha - September 15, 2015
The biggest risk to the global financial system post-2008 crisis? It’s right here in D.C.
Washington Business Journal - September 15, 2015
Watch Out Taxpayers: You Could Be On The Hook (Again) If Another Housing Crisis Hits
Forbes - September 14, 2015
Warren Said to Pull Endorsement of Fannie Shareholder Bill
Bloomberg - September 14, 2015
Elizabeth Warren changes mind, sides with Fannie and Freddie
The New York Post - September 14, 2015
McLean, Shaky Ground: Fannie Mae & Freddie Mac
ValueWalk - September 13, 2015
New Bill to Recapitalize Fannie Mae and Freddie Mac is Introduced
DSnews - September 11, 2015
The biggest remaining risk in today’s financial system, hiding in plain sight
Yahoo Finance - September 10, 2015
Real Reform for Fannie & Freddie
Current legislation needs to be amended in order for all investors – pensioners, community banks and individuals – to be repaid and create a solid platform for the mortgage market to thrive.
- Repayment of Pensioners, Community Banks and Individuals invested in Fannie and Freddie.
- Stricter lending standards and oversight of Fannie and Freddie.
- Affordable housing goals reinstated and upheld under stricter oversight.
Click here for more information
Investors Unite works to educate Fannie Mae and Freddie Mac shareholders and lawmakers of the importance of reforming the GSEs in a way that will reimburse shareholders what they are contractually and legally owed, but have not been paid.
The United States Congress is considering Government Sponsored Enterprise (GSE) reform that would wipe out Fannie Mae and Freddie Mac shareholders for good. These shareholders include everyday Americans such as public service retirees, teachers, firefighters and police officers. These individuals and pension funds invested in the GSEs before, during, and after the conservatorship and should be made whole under any reform. Taxpayers have been repaid with interest for their 2008 bailout of the GSEs.
Our country’s respect for the rule of law demands that private property rights be protected and Investors Unite gives Fannie Mae and Freddie Mac shareholders a voice in that fight.