IU Member’s Letter To Editor Cuts To The Chase On Corker’s Grudge Against Fannie Mae by Investors Unite
We’ll let this letter to the editor of The Tennessean speak for itself with regard to Sen. Bob Corker’s recent revealing and out-of-bounds comments on CNBC:
To the Editor:
Corker biased on Fannie Mae and Freddie Mac reform
Walter Schloss isn’t a name many investors will have heard today. Schloss was one of the great value investors who trained under Benjamin Graham and specialized in finding cheap stocks. His track record was outstanding. In Warren Buffett’s 1984 essay, the Super Investors of Graham-and-Doddsville, he noted that between 1956 and 1984, Schloss’s firm returned Read More
After watching the interview Sen. Bob Corker, R-Chattanooga, gave to CNBC on Oct. 7, it is obvious that he has lost all objectivity in regards to government-sponsored enterprise (GSE) reform.
Sen. Corker appears to be obsessed with a handful of hedge fund managers that own stock in Fannie Mae and Freddie Mac. Corker’s crusade is to punish a few at the expense of tens of thousands of common shareholders.
To witness a sitting senator call for investors to short sell a stock on national television is mind boggling.
To make matters worse, that same senator also is actively engaged in creating legislation pertaining to those same stocks.
That is at best foolish and at the worst, illegal.
It is abundantly clear that Sen. Corker is allowing his personal grudges to trump the important process of Fannie Mae and Freddie Mac reform.
If Sen. Corker cannot set his personal feelings aside, he should resign his position with the Senate Banking and Finance Committee immediately.
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