Important White Paper Reference Library

>>>>>>Court Filings from GSELINKS.COM<<<<<<

Important White Paper Reference:

A Forensic Look at the Fannie Mae Bailout Parts I II III and Final Dated June 16, 2015

Leaked Treasury Memo Counters Legal Claims

Chuck Grassley Press Release Corner

DOJ’s Response to Mr. Grassley on April 7, 2015

The Treasury response to Mr. Grassley on April 21, 2015.

Letter from Charles Grassley, Committee on the Judiciary Chairman to Eric Holder, US Attorney General relating to the details of the 3rd Amendment Dated April 7th ,2015

Letter from Charles Grassley, Committee on the Judiciary Chairman to Jack Lew, Secretary, Department of Treasury relating to the details of the 3rd Amendment Dated April 7th ,2015

How the Fannie and Freddie Conservatorship Has Undermined the Resolution Process By William Isaac and Senator Bob Kerrey | April 2015

Enterprise Secondary Reserve Taxpayer Protection and Government Accountability Act of 2015 –  H.R. 1673

Investors Unite Call with William Isaac

Stealing Fannie and Freddie by Jonathan R. Macey, Logan Beirne :: SSRN

Treasury Department Announces Further Steps to Expedite Wind Down of Fannie Mae and Freddie Mac

TREASURY, THE CONSERVATORSHIPS AND MORTGAGE REFORM
By Timothy Howard

>>>>BLACKSTONE saw value in the GSEs as early as June 13, 2011<<<<

JEFFREY A. GOLDSTEIN, Under Secretary for Domestic Finance CLEARLY STATED: 

DOJ attorneys claim that FHFA as Conservator is independent, not part of the government and doesn’t act on the direction of Treasury.

[See Page 110 Quote]

“Finally, the Secretary of the Treasury serves on the Federal Housing Finance Administration (FHFA) Oversight Board, and consults with the Director of FHFA in matters involving Fannie Mae and Freddie Mac. This provides the Treasury Department a voice in the FHFA’s actions as the conservator for Fannie Mae and Freddie Mac, and thus some influence over major decisions involving Fannie Mae and Freddie Mac.”

THE FINANCIAL CRISIS INQUIRY COMMISSION

[The data shows that Fannie Mae and Freddie Mac followed, rather than led, Wall Street in expanding subprime lending. Delinquency rates for loans purchased or securitized by Fannie and Freddie were dramatically lower than for mortgages securitized by Wall Street. And Fannie and Freddie mortgage securities, with their implicit government backing, undisputedly did not cause the losses that cascaded through the big Wall Street financial firms.]

From Phil Angelides, Chairman

Richard Epstein Corner:

AIG v. FRBNY In The Crosshairs: It’s Time To Rethink Fannie And Freddie

Another Assault On Treasury’s Infamous Third Amendment: The Struggle Over The GSEs Is Not Over

The Libertarian: “Fannie Mae and Freddie Mac: The Silent Scandal”

The Government Takeover of Fannie Mae and Freddie Mac: Upending Capital markets with Lax Business and Constitutional Standards By Richard A. Epstein

When Our Government Commits Fraud by Richard Epstein

Grand Theft Treasury by Richard Epstein

Richard Epstein looks at the federal government’s dereliction of duty in managing the Fannie Mae and Freddie Mac bailouts. Fannie, Freddie, and Your Money (Audio)

Physical and Regulatory Takings by Richard Epstein

Mr. Schumacher asked about CBO’s publicized view that Fannie and Freddie should be “on-budget.” Mr. Torregrosa noted that the CBO director believed that prior to the conservatorship the GSEs were a grey area regarding federal activities. With respect to the new arrangement, the warrants represent 80% ownership and that dilution has already been reflected through the market price. It’s hard to argue that 80% ownership – via the warrants – is not control.

Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets
By Dawn Kopecki – October 11, 2008

September 17, 2008 – Letter from Raymond Natter to Eugene Maloney filed with SEC with a Subject Titled Meeting with representative of Federated

Fannie Mae and Freddie Mac in Conservatorship – CRS Report to Congress – Dated September 15, 2008

Treasury’s and FHFA’s intervention has been described as a “seizure,” “takeover,” “rescue,” and “bail-out” of the GSEs. The first two terms are accurate — the FHFA as conservator has taken full control over the operations of the companies. “Bail-out” and “rescue” are more controversial terms. Common shareholders have lost their voting rights and nearly all their investment, and dividends on preferred and common shares have been suspended.

Statement by Secretary Henry M. Paulson, Jr. on Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers

The Counterfeiting of Shares of Fannie Mae and Freddie Mac – SEC

Legal Information Reference Corner provided by Cornell University Law School

12 U.S. Code § 4617 – Authority over critically undercapitalized regulated entities

5 U.S. Code Chapter 5 – ADMINISTRATIVE PROCEDURE

Fairholme Federal Claims Court – Margaret Sweeney

Fairholme vs US in Federal Claims Court Original – Jul-13-2013

Senior Preferred Stock Purchase Agreements:

Fannie Mae

Third Amendment to Fannie Mae’s Senior Preferred Stock Purchase Agreement with Treasury (August 2012)

Second Amendment to Fannie Mae’s Senior Preferred Stock Purchase Agreement with Treasury (December 2009)

First Amendment to Fannie Mae’s Senior Preferred Stock Purchase Agreement with Treasury (May 2009)

Fannie Mae’s Senior Preferred Stock Purchase Agreement with Treasury (September 2008)

Freddie Mac

Third Amendment to Freddie Mac’s Senior Preferred Stock Purchase Agreement with Treasury (August 2012)

Second Amendment to Freddie Mac’s Senior Preferred Stock Purchase Agreement with Treasury (December 2009)

First Amendment to Freddie Mac’s Senior Preferred Stock Purchase Agreement with Treasury (May 2009)

Freddie Mac’s Senior Preferred Stock Purchase Agreement with Treasury (September 2008)

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3 thoughts on “Important White Paper Reference Library”

  1. thombiz said:

    One very crucial white paper that should be added to the list is the one prepared by the US Treasury and Hud titled:

    REFORMING AMERICA’S
    HOUSING FINANCE MARKET
    A REPORT TO CONGRESS
    February 2011

    https://www.treasury.gov/initiatives/Documents/Reforming%20America's%20Housing%20Finance%20Market.pdf

    These white papers became the blueprint for housing finance reform by the Obama Administration. Ed Demarco refers to his commitment to them in his:

    A Strategic Plan for Enterprise Conservatorships:
    The Next Chapter in a Story that Needs an Ending
    February 21, 2012
    http://www.fhfa.gov/AboutUs/Reports/ReportDocuments/20120221_StrategicPlanConservatorships_508.pdf

    Plus the Treasury refers to it in their announcement of the 3rd Amendment to the PSPA. Treasury Department Announces Further Steps to Expedite Wind Down of Fannie Mae and Freddie Mac Aug 17, 2012

    The modifications to the PSPAs announced today are consistent with FHFA’s strategic plan for the conservatorship of Fannie Mae and Freddie Mac that it released in February 2012. The modifications include the following key components:

    https://www.treasury.gov/press-center/press-releases/Pages/tg1684.aspx

    Like

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