Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: RCJIII who wrote (10655)	6/17/1999 10:17:00 AM
From: KZAP	Read Replies (1) \| Respond to of 52051

Good news for AMMB. <g> From the RB thread..... Article in Wall Street Journal this morning page A28. Hard copy---Excerpts from article: Headline reads: Critics of Fannie Mae Finally Gain A Powerful Voice. Organized opposition is banding together to block Fannie Mae and Freddie Mac from possibly moving into new lines of consumer-mortagage business. Eight trade groups have signed up so far in this coalition of trade groups. Mortagage Insurance co, the consumer Bankers Assoc.,Consumer Mortgage Coalition, Norwest, GE Capital, PNC Financial,Chase Manhattan Corp to name a few. Fannie Mae Chairman Franklin Raines has told traditional mortgage lenders that his company has no intention of branching into consumer businesses. The article goes on to describe the history of Fannie Mae and the hiring of lobbying firms on both sides. Ends with quote from Suzanne Hutchinson, EVP of Mortgage Insurance Companies of America. " It was a real wake-up call," MIC is taking the lead role as watch dog for Fannie Mae. Sorry I can't post the link. Hardcopy...... When Freddie Mac tried to attach a bill offering its own cheap mortgage insurance, Mortgage insurers in particular went ballistic. Within a day, competing legislation was approved stripping Freddie of its new power. We have alot of law makers in our corner. _______________________________________________________________ Looks like we are more organized if we were not before. FM Watch is the name of the new coalition. Hope this article along with the news on CPI pushs our stock back over six. Since it is out in the open now with an official watchdog, I feel better about it. Government backed Fannie Mae does not have a leg to stand on. Nobody wants a government sponsered monopoly. They will back down based on recent trials regarding intel and Microsoft. The government does not want to be perceived as hypocrites. IMHO Good Luck! GO AMMB!