Posted on 08/07/2013 9:36:24 AM PDT by whitedog57
Freddie Mac posted its second largest profit and will pay $4.4 billion to Treasury. This is in spite of flat mortgage purchase applications. In other words, Death Valley for households.
mbapurcch080713
Senior preferred stock outstanding and held by Treasury remained $72.3 billion, as dividend payments do not reduce prior Treasury draws.
Of course, shrinking mortgage delinquencies coupled with skyrocketing house prices translates into higher profits.
mbadlinghp
To be quite frank, improving profits at both Fannie Mae and Freddie Mac will likely slow down the impetus for the GSE change that President Obama claims to support.
Thanks to the vigilance of FHFA Director Ed DeMarco, Fannie Mae and Freddie Mac are now profitable (albeit, Fannie posted a net income of $58.7 billion in the first quarter, mainly due to the one-time $50.6 billion gain related to the tax assets). Will Congress and the Administration kill off a cash cow like Fannie and Freddie?
cashcow
Mel Watt (D-NC) may be replacing DeMarco as FHFA Director. Since Watt is Obama’s choice, would Obama really want to shut down Fannie and Freddie? Especially when Watt could order Fannie and Freddie to open the credit floodgates and principal writedowns?
I’ll believe it when I see it. I remain dubious.
lazy-cat
Well, in general I would say the more people working, the better the economy will be.
It’s a spiritual issue ultimately... the nation has lost heart and sees no point in working. Even this horrible situation could be at least turned in the other direction if not cleared up, if the nation regained heart. And heart comes from God. Also if God moved, it could not even be stopped by Barack Obama. We people must make the first move, however. Fight all the lies that say that “God is hate” and dare to love God again. We do NOT need to worry about working out a forgiveness... that was already done... however there is a lot of grace pushing that will need to be done to fill up the holes and it will feel like it stinks when things are actually getting built back up.
But who is bigger. God or Barack Obama?
The devil, too, is only a little runt next to God... really what we have is like a giant that people are chicken to ask to help them. The only offering God wants is ourselves from now into the future... the past debt is wiped out, clean, gone, and so will any stumbles we make in the process. It’s a very silly situation that we do not take advantage of this! The big problem will be, once we embark on this course, powerful smoke screens put up by the devil. Those smoke screens are all lies, though.
Yes, however we don’t have to make it easy for him.
And he wants us to think there’s no point in banding together to combat him with the very weird weapon of grace... ahh look at that bible, you’re gonna get mowed down so why try?... well first that bible does not have any calendar in it tied to the one we know! I say defiance.
Well, a gospel pitch would be the work on our part to attempt to get that gap closed. Nobody’s guaranteeing the pitch will succeed but even the attempt is blessed.
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