Monday, January 20, 2014

CORKER BILL DEEMED AS UNLAWFUL - HOUSEWIRE ARTICLE

foscofrank2  Dec 12, 2013 10:15 PM Flag

CORKER BILL DEEMED AS UNLAWFUL - HOUSEWIRE ARTICLE

The Corker-Warner Bill that would dissolve Fannie Mae and Freddie Mac violates the rule of law, is unfair to existing shareholders and contributes to the uncertainty in the housing market, according to three housing-industry insiders.

Tim Pagliara, Chairman and CEO of CapWealth Advisors, Joshua Rosner, managing director at Graham Fisher & Co., and Anthony Sanders, professor of finance in the School of Management at George Mason University, assailed the bill Tuesday in a media conference organized by the Center for Individual Freedom.

The problem with the bill, they claim, is that it seeks to replace Freddie and Fannie with another government institution that retains some of the same problems of the current GSEs, as well as introducing new ones.

For Pagliara, who owns significant interest in Freddie and Fannie, the treatment of existing shareholders undermines the credibility of any new institution.

“Until the Treasury deals fairly with the investors in the private mortgage market, until they demonstrate a willingness to deal within the rule of law, they won’t get private investors,” Pagliara said. “Nobody wants Tony Soprano as a business partner.”

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Everyone needs to emphasize these important point"

-Until Gov treats FnF shareholders with respect and fairness,
there is not a single investor who will invest in this important area of economy.

-Unless there is the guarantee that Gov officials will not violate the Laws/Constitution 
there wont be any private investment with or without Gov guarantee.

- Shareholders may win ultimately in courts, but why would private investors 
take the risk and endure travails of investing in companies like FnF and 
litigating against all powerful and mighty USG.

- Gov should disown all unlawful, unconstitutional agreements and transactions
and prosecute all those involved in unlawful activities as a gesture of goodwill to FnF
investors.

- Gov should honor all their commitments and promises to FnF shareholders/investors who 
invested FnF based on statements from top Gov officials

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The name of the website is Housing Wire. The title of the article is Corker-Warner bill a triple threat to recovery, trio says. Hey Frank why create your own custom names of websites and article titles so that they are unsearchable? Wasting people's time man.

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