Fannie Mae – AG Nominee Signals A Change In Approach: Bove
ValueWalk - November 11, 2014 - November 11, 2014
ValueWalk, By Michael Ide
The nomination of Loretta Lynch as the new US Attorney General could mean the administration doesn’t want to continue prosecuting banks, argues Rafferty Capital Markets VP of equity research Richard Bove
When Mel Watt spoke at the Brookings Institution earlier this year, Rafferty Capital Markets VP of equity research Richard Bove saw the change in direction as a big win for Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) shareholders. And while Watt has been clear about where he considers his obligations to lie, there’s not question that he has taken the FHFA, Fannie Mae and Freddie Mac in a different direction than his predecessor Ed DeMarco, and Bove argues in a report sent out earlier today that the nomination of Loretta Lynch as Attorney General signals a similar sea change in policy.
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