The Department of Treasury secretly changed the rules of conservatorship and divested private shareholders of any profits as mortgage giants Fannie Mae and Freddy Mac recovered:
http://graphics8.nytimes.com/packages/pdf/business/Tab25. pdf
"Makes clear the administration’s commitment to ensure existing common equity holders will not have access to any positive earnings from the G.S.E.’s in the future."
Honolulu, expensive, but worth it! I much prefer a tiny studio in Hawaii to a mansion in Detroit.
ReplyDeleteThe Department of Treasury secretly changed the rules of conservatorship and divested private shareholders of any profits as mortgage giants Fannie Mae and Freddy Mac recovered:
ReplyDeletehttp://www.nytimes.com/2014/02/16/business/the-untouchable- profits-of-fannie-mae-and-freddie-mac.html?ref=business&_r=2
The memo:
http://graphics8.nytimes.com/packages/pdf/business/Tab25. pdf
"Makes clear the administration’s commitment to ensure existing common equity holders will not have access to any positive earnings from the G.S.E.’s in the future."