Statement by Investors Unite Executive Director Tim Pagliara on U.S. Supreme Court’s Declining to Take up Shareholder Suits Stemming from Net Worth Sweep

Tuesday, February 20, 2018

The U.S. Supreme Court today let stand rulings in three shareholder lawsuits that challenged the legality of the 2012 amendment to the term of the conservatorship of the government sponsored enterprises Fannie Mae and Freddie Mac. The amendment, known as the Net Worth Sweep, diverts the GSEs’ quarterly earnings to the U.S. Treasury.  In response, […]

Happy Valentine’s Day Taxpayers! Instead of Chocolate, Here’s a Bill for $3.7 Billion.

Wednesday, February 14, 2018

Fannie Mae ended 2017 with a loss of $6.5 billion, leaving it with a deficit of $3.7 billion. Taxpayers will need to fill the gap since Fannie and Freddie are locked in a government-run conservatorship. Expect another hit for taxpayers tomorrow when Freddie Mac posts its numbers for the final quarter of 2017. None of […]

Chairman Hensarling’s False Choice on Affordable Housing and GSE Reform

Tuesday, February 6, 2018

House Financial Services Committee Chairman Jeb Hensarling today issued a not-so-subtle warning to Democrats: Support evolving GSE reform legislation now or risk having affordable housing programs gutted next year. During a hearing today Hensarling engaged in this colloquy with Treasury Secretary Steven Mnuchin: Hensarling: It’s now been 10 years since the financial crisis and regrettably […]

Corker-Warner Bill Again Negates Shareholder Rights

Thursday, February 1, 2018

The long-awaited revision of revisions of legislation by Sens. Bob Corker, R-TN, and Mark Warner, D-VA, to end Fannie Mae and Freddie Mac’s long run in mortgage finance has leaked out. Homebuyers, taxpayers and shareholders, beware.  The draft bill, which sponsors continue to insist is still not finalized, would revoke the charters of Fannie Mae […]

Note to Wallison: FDR is Dead But GSE Reforms Are Alive and Well

Thursday, January 25, 2018

Peter Wallison’s ideological disdain for Fannie Mae and Freddie Mac is pure and therefore largely impenetrable to facts. The American Enterprise Institute scholar remains convinced that big government liberals bear almost sole responsibility for the 2008 financial crisis and, in a Wall Street Journal op-ed this week, he warns the Trump Treasury Department is all […]