"The federal government is currently seizing the substantial profits (of the GSEs), taking for...


"The federal government is currently seizing the substantial profits (of the GSEs), taking for itself the property and potential gains of private investors the government induced to help prop up (Fannie Mae FNMA.OB and Freddie Mac FMCC.OB), writes Ted Olson, explaining why he sued on behalf of Perry Capital to stop the practice. Current estimates suggest the government will recover $51B more than it invested over the next decade.

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Comments (8)
  • Drew Robertson
    , contributor
    Comments (373) | Send Message
     
    I.just.hope.it's.true.

     

    because I am an owner of USGOV not Perry Capital.
    24 Jul 2013, 11:49 AM Reply Like
  • thomasone
    , contributor
    Comments (117) | Send Message
     
    However, the original preferred shareholders, where lied to by government, the investment banks that the shares were cash equivalent. Does the government think that owners of preferreds were all Chinese. not so but retirees who were avoiding the risk of the stock market at a time of irrational exuberance and that is where the investment brokers claimed there was safety.

     

    Uncle Sam has become a crook or perhaps he thinks he is robin hood stealing from retirees to help those who don't want to work
    shame of Uncle Sam. Readers its not all about Perry Capital but about a government that screws the middle class. I am sure many got out at ten cents on the dollar
    could there be a class action suit?,
    --
    24 Jul 2013, 12:00 PM Reply Like
  • wpdsr001
    , contributor
    Comments (65) | Send Message
     
    As I have written on other occasions in comments. This action by the Federal Government needs to go to the Supreme Court so as to finally get the Government out of seizing companies (FNMA, GM,etc) and their profits.

     

    If government cannot raise taxes, they now have figured out how to seize private business and extract their money.
    24 Jul 2013, 12:06 PM Reply Like
  • Drew Robertson
    , contributor
    Comments (373) | Send Message
     
    Hey you hit on it. Get rid of the carried interest subsidy for hedge funds like Perry Capital. Great idea. Thanks.
    24 Jul 2013, 12:13 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11177) | Send Message
     
    Legally, the rights of the Federal Government do not supersede the rights of individual citizens.

     

    If I am wrong, please point me to legal proof that I'm wrong...thanks! :)
    24 Jul 2013, 01:39 PM Reply Like
  • user92718
    , contributor
    Comments (166) | Send Message
     
    Iam a current shareholder of FNMAE and Iam holding hopefully the earnings will pop the stock up or teh goverement change their mind.
    Any one agrees with me on holding, or suggets to sell?
    24 Jul 2013, 02:12 PM Reply Like
  • jimmywumsn
    , contributor
    Comments (28) | Send Message
     
    private free enterprise was the major reason that made this country GREAT and prosper. I can not imagine why the politicians ingore the interest of the shareholders and American taxpayers by winding down these two companies? Does USA is till the Capitalist country or is she a Socialist country where members of the politburo decide everything.

     

    No wonder Mr. Ronald Reagan said : Government is not the solution to our problem, Government is the problem.
    24 Jul 2013, 11:45 PM Reply Like
  • bonerslap
    , contributor
    Comments (8) | Send Message
     
    The lunacy at Wall street has no bounds. Mark my words.
    25 Jul 2013, 09:13 PM Reply Like
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