Thursday, July 2, 2020

Wear a mask, protect yourself and others, don't become a grim statistic




One Man’s GSE Opinions and more

With all due respect to actor Matt Damon and his performance in the movie “Good Will Hunting,” how do you like them SCOTUS apples, Director Calabria?
Your seat has to be a little warmer since the High Court ruled this week you can be dumped by the President (any President).
However, I would advise it’s too soon to burnish resume and pack your bags, but you might want to accelerate your GSE RBC/Conservatorship considerations and bend toward those who’ve told you your original language is too extreme and will drive up mortgage costs for those who most need Fannie and Freddie support.
Or, you can ignore the political/business realities, try and promulgate your bad reg, and go down Kamikaze-like appealing to your financial friends on the Right for your next job.
There are acceptable GSE options for you but will you have the leadership skill/instinct to find them?
You might still be able to salvage something from this exercise, if you employ your outside advisors—as well as listen, carefully, to the investment banks which Fannie and Freddie each hired.

Corona-19 Virus and Putin

[For all of those who have chastised me over my occasional comments about President Trump’s performance and record, I wanted to share one more DJT quote for you from Jan. 6, 2020--just six months ago--to show you how reality-removed he’s been from what’s happening to America.]
The POTUS to CNBC: “We have it (The Corona Virus) totally under control. It’s one person coming in from China, and we have it under control. It’s — going to be just fine.”
A hundred twenty five thousand American deaths and growing numbers later—with the prospect of that figure doubling—we know, if the POTUS doesn’t, it hasn’t been fine, since he ignored COVID-19 facts except to cherry-pick items and justify his anti-science, anti-intellectual, egotistical actions.
He defaulted to individual Governors for any kind of public health relief. Unfortunately, a number of them (in Red states) followed their leader and now are paying the price, or at least their citizens are.
When you readers vote in November, remember, the dead and sick, the millions of unemployed, and the wreck our economy has become under Donald Trump.
And don’t get me started about DJT’s “good friend” Vlad Putin.
Say all you want about Joe Biden, but he has more integrity in one hand than DJT has in his entire body.
Any US serviceman or woman—plus their friends and families--should be ashamed to support the guy who refuses to challenge Russia over reports of the Kremlin paying the Taliban to murder American and British GI’s in Afghanistan.
Judge Margaret Sweeney
She’s still important, but not many people know when she was a little girl, Judge Margaret Sweeney was frightened by a calendar and its many different numbered days. This condition also is known as “numerophobia” or fear of numbers (often called “arithmophobia”).
Anxiety meds and therapy often are used by sufferers to get over the condition.
Because of that childhood fear, today Judge Sweeney chooses to kill off more legal and judicial deadline dates than her peers, all the while damning the government for the lies it told and slow walking “discovery” in her GSE case.
Now—a new court decision she blessed this week—puts us into March of 2021 for the next meeting—or even later—(expect invariably this time frame will get scrubbed and rescheduled, too, a legal can too often kicked down the road).

Maloni, 7-2-2020

Happy July 4 to you all; stay safe.

27 comments:

Anonymous said...

Excelent

Bill Maloni said...

Thanks Anon. I have a "Dr.Fauci photo mask" (actually two of them) and I rotate and wear proudly.

Amadeus3512 said...

Bill, several SCOTUS rulings that provide hope that all is not lost. I only hope that Justice Roberts will continue to be a voice for social justice in the months ahead. Have a GREAT holiday weekend!

Bill Maloni said...

Amadeus thanks for reading and writing.

I was thinking similar things about Chief Justice Roberts and hoping he will shock the nation with this respect for our Constitution, our laws, our ways of life.

Anonymous said...

Sweeney should be tossed off the Bench for not having setting a final rule on this years ago. Just my opinion (no pun intended).

Last, but not least, what is so hard in believing and trusting our unified goals...”..for the Republic for which it stands, should be for which We stand - a lot to be said for this way of thinking.

Your backing of Biden surprises me.

ana said...

Some organization ask fro 60 day extension of comment period for Cap rule.
If Calabria reject it, he will end conservatorship this year. Otherwise, not.

Anon said...

You need to stick one of those in your mouth Maloni

Anon said...

He's so anti Trump he would vote for Keyan West if Alzheimer Joe drops out

Bill Maloni said...

First Anon--If you are a careful reader, you would note that Biden was not my personal choice, but I will actively support him against DJT, whose behavior and record I consider cancerous.
Name one group or foreign leader he's out-negotiated, despite claiming how brilliant he is?
Look at his COVID-189 indifference and lying and count the dead and dying, as well as the infected.

He is bigoted and a despot. He lies continuously. Read the comments of the multitudes who have walked out of his Administration and him.

Did you notice that the many nations in the world have banned travel from the US??

Feel sorry for those disillusioned souls who do support him in November and the nation, if he somehow wins.

ana said...

DOJ should ask SCOTUS to expedite Collin case. Major decisions by unconstitutional FHFA will be ratified later or voided.

Bill Maloni said...

Dana--

Not important enough for this Admin, unless he sees the (in my view) overwhelming political benefit in doing so.

It's been there for him for two years and still NADA.

Anonymous said...

Dear Mr. Maloni, we welcome your readers new comments.-
grateful. Atte. Maria

ana said...

Based on Trump's memo on GSEs,
1. Mnuchin cancels preferred shares, chance 99.9%
2. Calabria issues his final version of capital rule (reasonable or not), 80%
3. Calabria ends conservatorship with decree, 80%

Once these happen, GSEs are on road to full release irreversibly. 80%

If Biden wins,
1. Revise cap rule if not reasonable.
2. End conservatorship with decree if not done yet.

RISKS:
1. US economy is so bad before Nov that GSEs look shaky.
2. Trump gives up candidacy. Another Republican wins White House. And cap rule is unreasonable to potential investors.






Bill Maloni said...

Anon--So do I.

***************************************************************************

ANA--

I just shared with Tim Howard my belief that post Conservatorship, MC still will try to strangle GSE management and not allow the two companies to grow and threaten big bank interests.

Calabria is not a GSE fan nor a "houser."

He's a control freak when it comers to Fannie and Freddie.

ana said...

Gov files a motion in Federal Appeal court to stay all appeals, because SCOTUS will review Collins case.

I believe Mnuchin won't try to settle with plaintiffs before his departure in Jan 2021.
Still, he may cancel senior preferred shares.

ana said...
This comment has been removed by the author.
Bill Maloni said...

ANA--

I agree the GSE problem probably is not on Mnuchin's bucket list.

But anything he does apropos of your suggestion would be welcomed.

ana said...

Don't worry that MC will drag GSE recap and release.

1. Trump wants to release GSEs. If he is re-elected, MC has to change cap rule to investors' satisfaction, or MC gets fired.

2. If Biden wins, he will fire MC. This has a very good chance.

Bill Maloni said...

From your lips....~!

ana said...

After reading many reviews on the FHFA capital rule for GSEs, I have one word summarizing the 400+ pages:

CRAP!

Bill Maloni said...

Tru dat!

Since the 50 BP refi fee is part of Calabria's scheme, I wonder who at the WH objected?????

ana said...
This comment has been removed by the author.
ana said...

If you are unhappy with current FHFA director, you vote for Biden. He can end MC's term earlier, soon after SCOTUS decision on constitutionality of FHFA.

ana said...

Almost surely:

1. Mnuchin will cancel NWS before Jan 2021.
2. MC will leave FHFA in 2020 or 2021. If he issues unreasonable cap rule before departure, next director will issue a new cap rule in 2021 or 2022.

Still likely:

3. MC will issue cap rule and end conservatorship with consent decree.

Anon said...

Where art thou Billy boy? No news good news? Think Trump will overturn election results? Hope so for the sake of the republic.

Anonymous said...

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Anonymous said...

Time to come back Bill