Treasury Department

Fannie, Freddie Plunge After Court Rules Hedge Funds Can't Sue

Moments ago, the stocks of the nationalized GSEs = Fannies and Freddie - tumbled, after a federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.

The Coming Bear Market

The bears are dead. Long live the bears. And that, in a nutshell, describes every bubble and emerging bear market there ever was...

Frontrunning: February 14

  • Yellen to Face Questions on Trump’s Impact on Economy (WSJ)
  • Fed has limited view on Trump economic policies as Yellen heads to Congress (Reuters)
  • Oil rises as OPEC-led output cuts trim oversupply (Reuters)
  • Mnuchin’s G-20 Debut Clouded by Currency Chatter (BBG)
  • Israel’s Netanyahu Prepares for High-Stakes Talks With Trump (WSJ)
  • Peugeot Owner in Talks to Buy GM’s European Business (BBG)

Trump Concerned There Are Too Many "Goldman Guys" On His Team

According to Bloomberg, Goldman banker Jim Donovan is under consideration for the No. 2 job at the Treasury Department, but he’s got one big thing working against him: Too many “Goldman guys” already have high-up positions in the Trump administration.

Record Number Of Americans Renounce U.S. Citizenship In 2016; 2,200% Surge During Obama Reign

Obama warned everyone back in 2009 that "elections have consequences."  Now, eight years later, we learn that apparently the "consequences" of running around the country for nearly a decade threatening to raise taxes, "spread the wealth around" and pursue any number of other socialist policies are a record number of people renouncing their U.S. citizenship.

"When Trade Stops, War Starts" Jack Ma Warns As China Protests US Sanctions On Iran

Having recently accused the US of 'wasting $14 trillion on war instead of its people', China's second richest man, Jack Ma, continued to voice his concerns to President Trump on a recent trip to Australia, warning retreat from globalization will only result in trouble. This followed China "lodging representations" with the United States over Washington's new sanctions list targeting Iran, which includes Chinese companies and individuals.

Trump To Sign Executive Orders Undoing Dodd-Frank, "Fiduciary Rule"

President Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010. Trump also will halt another of Obama’s regulations known as the "fiduciary rule", hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients.

US Unleashes New Sanctions On Iran; Russia Says "Counter-Productive"

The U.S. imposed fresh sanctions on Iran as President Donald Trump seeks to punish Tehran for its ballistic missile program after warning the Islamic Republic that it is “playing with fire." As Bloomberg reports, the Treasury Department published a list of 13 individuals and 12 entities facing new restrictions, some for contributing to proliferation of weapons of mass destruction and others for links to terrorism.