1 / 18

Government Fraud and the Fannie Mae & Freddie Mac Conservatorship

Learn about the fraudulent actions committed by the government that have negatively impacted shareholders, homeownership, and public trust in the Fannie Mae and Freddie Mac Conservatorship.

frankie
Download Presentation

Government Fraud and the Fannie Mae & Freddie Mac Conservatorship

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What Do You Do When Your Government Commits Fraud?How the Fannie Mae and Freddie Mac Conservatorship Has Robbed Shareholders, Jeopardized Homeownership and Violated Public Trust Tim Pagliara, Chairman & CEO of CapWealth Advisors June 7, 2016

  2. Introduction

  3. The Financial crisis of 2007-2008

  4. September 2008: Fannie mae & Freddie mac placed into conservatorship • HERA creates the Federal Housing Finance Agency (FHFA) as conservator and expressly requires it to “preserve and conserve” the GSEs’ assets and property so that they could be restored to a “sound and solvent” condition

  5. the Budget control act of 2011 • To end the Debt Ceiling Crisis, Congress strikes a deal with the Obama Administration that raises the debt ceiling in exchange for immediate cuts and future deficit reduction—failure to make those future reductions would trigger across-the-board cuts known as “sequestration” beginning January 2, 2013

  6. Quantitative easing 2008-2014 • In three tranches known as QE1, QE2 and QE3, the Fed purchases $4.5 trillion in mortgage-backed securities and long-term Treasuries • In the process, Treasury discovers that Fannie and Freddie, though under Federal conservatorship, are very profitable

  7. Treasury Twice asks IRS for private letter ruling re: GSE Deferred tax asset (DTA)

  8. August 2012: third amendment sweep

  9. unsealed documents show Fed knew gses were profitable

  10. MOTIVE: second debt crisis, LATE 2012-2013

  11. Bipartisan budget act of 2013 • Signed December 26, 2013 • Mitigates impact of sequester

  12. Accounting distortions and False narratives

  13. 2016: The year of Truth

  14. Investorsunite.org

  15. fanniefreddiesecrets.org

  16. Conclusion The luxury ocean liners RMS Queen Mary (pictured above) and RMS Queen Elizabeth were pressed into service as troop transport ships during World War II, but Britain returned them to Cunard Line after the war.

  17. Q&A Text “GovernmentSecrets” to 96000 for more information

  18. About Tim Pagliara • Chairman, Founder, & CEO, CapWealth Advisors • Tim Pagliara is a long-time veteran of the securities industry and an advocate for financial responsibility. His thought leadership provides a foundation for strategic wealth achievement done with integrity. • In 2000 Tim formed his independent registered investment advisory firm in Franklin, Tennessee, after nearly 20 years in the industry. Today, CapWealth Advisors has over a billion dollars under advisement, serves high-net-worth clients in 32 states and has expanded to include CapWealth Investment Services and CapWealth Insights, an investment tracking and reporting service for wealthy families, private trust companies and foundations. Tim remains involved in all aspects of the companies’ investment counseling, GIPS-compliant portfolio management and personal financial planning. Barron’s magazine named Tim Tennessee’s top financial advisor in 2012, 2013, 2014, 2015 and 2016, as well as among the nation’s top 1,200 advisors in 2009, 2010, 2012, 2013, 2014, 2015 and 2016. In 2014, the Financial Times named CapWealth Advisors one of the top 300 registered investment advisors in the country. • Through his 30-plus years of experience, Tim has grown increasingly passionate about promoting awareness of the national debt problem and advocating for a pro-growth U.S. economic agenda. Tim is actively involved in Erskine Bowles’s and Senator Alan Simpson’s Fix the Debt campaign and Investors Unite, an organization representing Fannie Mae and Freddie Mac shareholders that seek full restitution of investments seized by the Treasury Department. Tim is a frequent national speaker on these issues and is often approached by the media. • Tim earned his undergraduate and law degree from St. Louis University. He is a graduate of the University of Pennsylvania’s Wharton School Securities Industry Institute and a member of the Tennessee Bar Association. Tim serves on numerous charitable boards and is the founder and president of the St. Joseph’s Teachers College Foundation, whose mission is to support the education of teachers in Moshi, Tanzania. An avid outdoorsman, skier and hiker, some of his achievements include hiking to the base camp of Mount Everest and climbing Africa’s Mount Kilimanjaro eighttimes. He also spends time at sea level and is licensed as a United States Coast Guard 100-ton Master Captain.

More Related