Investors UNITE PRESS CONF Tomorrow 10AM(EST) Murrow Room !
only 30 mins after the MKT opens
posted on the NATIONAL PRESS CLUB WEBSITE:
press.org/events/investors-unite-press-conference
The National Press Club
529 14th St. NW, 13th Floor
Washington, DC 20045
202-662-750
Fannie, Freddie shareholder events ‘soften ground’ for claims in next Congress, analyst says April 8, 2014, 3:43 PM ET
A flurry of activity among shareholders in Fannie Mae and Freddie Mac and interested groups may help them advance their cause next year, when Congress is expected to continue its work on reforming the U.S. housing-finance system, an analyst says.
On Wednesday “Investors Unite,” a new coalition of shareholders in the federally controlled mortgage-finance companies, will send dozens of investors to Capitol Hill, and will also hold a meeting at the National Press Club.
“Investors Unite” protests the current terms of Fannie FNMA and Freddie’s FMCC bailout agreement with the government that forces the firms to send all of their profits to the U.S. Treasury Department. In a statement, the coalition said it’s seeking “full restitution,” and also wants to amend a current bipartisan proposal in the Senate that would eventually eliminate Fannie and Freddie.
Wednesday’s activities will include consumer advocate Ralph Nader, a Fannie and Freddie shareholder who has spoken out against the government’s treatment of investors.
Given that elections are approaching, analysts say there’s only a slim chance that U.S. lawmakers will make substantial progress this year on legislation to reform the country’s housing-finance system . However, by creating headlines now, Fannie/Freddie-interested groups such as “Investors Unite,” as well as the new “Coalition for Mortgage Security” and “Shareholder Respect,” may help them draw attention and considered by Congress next year.
“We do not believe that any solitary effort will push the debate in favor of shareholders, but note that the totality of these efforts will likely soften the ground for shareholder claims to be heard anew in the new Congress,” Isaac Boltansky, an analyst at Compass Point Research & Trading, wrote in a research note.
–Ruth Mantell Less
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