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 Video Clip

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…

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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.

  1. Repayment of Pensioners, Community Banks and Individuals invested in Fannie and Freddie.
  2. Stricter lending standards and oversight of Fannie and Freddie.
  3. 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.

Issue Background

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.