Morgan Stanley to Advise U.S. Department of the Treasury Regarding Fannie Mae and Freddie Mac NEW YORK -- (Business Wire) -- Morgan Stanley (NYSE: MS) confirmed today that it has been retained by the United States Department of the Treasury to provide capital markets advice to support the Treasury's responsibilities associated with its new authorities regarding Fannie Mae and Freddie Mac. As part of that assignment, Morgan Stanley will support the Treasury's work to promote market stability and the availability of mortgage credit. Morgan Stanley Chairman and Chief Executive Officer John J. Mack said, "Morgan Stanley is honored to have been asked to serve as financial advisor to the U.S. Treasury as it evaluates various alternatives for Fannie Mae and Freddie Mac. We are pleased to be able to offer our services to the government and look forward to working with Secretary Paulson and his team as they work to restore stability to the global capital markets and confidence in the U.S. housing market." Morgan Stanley will accept no fees for this assignment and will receive only $95,000 from the Government toward its expenses. (H/T Jesse)
Morgan Stanley (NYSE: MS) confirmed today that it has been retained by the United States Department of the Treasury to provide capital markets advice to support the Treasury's responsibilities associated with its new authorities regarding Fannie Mae and Freddie Mac. As part of that assignment, Morgan Stanley will support the Treasury's work to promote market stability and the availability of mortgage credit.
Morgan Stanley Chairman and Chief Executive Officer John J. Mack said, "Morgan Stanley is honored to have been asked to serve as financial advisor to the U.S. Treasury as it evaluates various alternatives for Fannie Mae and Freddie Mac. We are pleased to be able to offer our services to the government and look forward to working with Secretary Paulson and his team as they work to restore stability to the global capital markets and confidence in the U.S. housing market." Morgan Stanley will accept no fees for this assignment and will receive only $95,000 from the Government toward its expenses. (H/T Jesse)
And what are those "new authorities" .... BWAHAHAHAHAHAHAHA ... wait ... BWAHAHAHAHAHAHAHA ... who has read, even skimmed the table of contents, H.R. 3221 ENR ... BWAHAHAHAHAHAHAHA ... that's "enrolled as agreed to or passed", as in DONE, FIXED, by Both House and Senate?
Why, one of those would be Title 1, §1101, ESTABLISHMENT OF THE FEDERAL HOUSING FINANCE AGENCY, an investment bank whose sole purpose, apparently, is to underwrite MBS issued by old and new GSEs created by H.R.3221 et seq, not to mention the FRB's primary dealers ... BWAHAHAHAHAHAHAHA ...ahhhhaha "Blueprint for a Modernized Financial Regulatory Structure" indeed... Diversity is the key to economic and political evolution.
Talk about foxes guarding henhouses! THIS FOX IS ON STEROIDS!
ARRRR! Mate. Time to rape and pillage.
As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
