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  • Comment Detail

  • Date: 06/02/20
    First Name: Mamie
    Last Name: Norris
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA95

  • Comment

    As a long-suffering Fannie Mae/Freddie Mac common shareholder the past 12-plus years have been difficult. Firstly, the GSE's were not at risk of default or bankruptcy. My twenty year investment was stripped of value even after Treasury Secretary Paulson said -- in effect -- 'don't worry'. Then promptly advised Wall Street cronies otherwise. Secondly, the witnessing of unabated corruption in government , the courts and Wall Street -- and the disgorgement of Main Street wealth -- since 2007 has been breathtaking and demoralizing. Hence, Trump was elected by those who hoped for honest agency and a return to the rule of law. Sadly. Nothing much has changed for long term Main Street retail investors. Though Fannie and Freddie shorts and OTC manipulators have prospered.

    The new capital rules proposed by FHFA are interesting. And may be generous in the extreme given actual historic default and business risk. How this impacts borrowers is the question. As an investor my goal is to see these firms build and retain earnings. Not pay dividends to preferred shares. My concern is the viability, stability and release of these great companies. And to the health and future of American homeownership. If these capital rules protect Fannie and Freddie (and the US taxpayer) from speculators and thieves, then Roger ball. And Godspeed.