Obama's Parting Gift to Blackstone Billionaire Buddy Schwarzman
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Obama's Parting Gift to Blackstone Billionaire Buddy Schwarzman

By anonymous following x   2017 Jan 29, 4:43pm 1,016 views   9 comments   watch   quote     share    

"Mortgage giant Fannie Mae is getting into the single-family rental business in a big way.

The government-backed agency said it is going into business with private equity giant and major housing player Blackstone by backing $1 billion in debt. Blackstone's Invitation Homes filed for an initial public offering this week, and the Fannie Mae relationship was disclosed afterward. Blackstone is looking to raise $1.6 billion by selling shares to the public.

Fannie Mae, currently under government conservatorship, will back $1 billion in debt collateralized by rental homes owned by Blackstone.”

When asked why, A Fannie Mae representative said “Fuck you in the ass, that’s fucking why.... Bitch."


1   Tenpoundbass   ignore (6)   2017 Jan 29, 4:54pm   ↑ like (0)   ↓ dislike (2)     quote      

Still better than Ben Afleck bitches

2   HEY YOU   ignore (7)   2017 Jan 29, 5:07pm   ↑ like (0)   ↓ dislike (0)     quote      

Will djt & the republicans stop this?

3   BayAreaObserver   ignore (1)   2017 Jan 29, 6:09pm   ↑ like (0)   ↓ dislike (0)     quote      

Obama's buddy Schwarzman ? The billionaire private equity executive, who was recently named chair of Trump's economic advisory forum, described the vast regulatory changes that could potentially come to Wall Street — and corporate America — under the new administration. He was speaking at a Goldman Sachs conference.


Back in 2010 there seems to have been a parting of the ways. http://www.newsweek.com/schwarzman-its-war-between-obama-wall-st-71317

In 2015 Michelle embraced him for his for donating $100 million to fund a new scholarship program in Beijing, while helping raise another $200 million. http://nypost.com/2014/03/20/michelle-obama-embraces-enemy-schwarzman/

Is this the same Schwarzman who compared Obama to Hitler over tax policies ?

Sounds more like the IPO etc. was perfectly timed to coincide with Trumpligula's inauguration. The article in the OP is dated 01-25-17.

4   Robert Sproul   ignore (0)   2017 Jan 29, 6:18pm   ↑ like (0)   ↓ dislike (0)     quote      

BayAreaObserver says

Sounds more like the IPO etc. was perfectly timed to coincide with Trumpligula's inauguration.

The history of animus with Obama is interesting.
Somebody in his administration engineered this absurd, gratuitous, handout.

5   BayAreaObserver   ignore (1)   2017 Jan 29, 6:26pm   ↑ like (0)   ↓ dislike (0)     quote      

@Robert Sproul - I am trying to find exactly what you are talking about, not going well. Seems he actually supported McCain but gave more in contributions to Obama and up until the tax policy dust up kind of maybe I do, maybe I don't approve of the Obama administration.

So far it seems Blackstone group has been playing both sides of the aisle so they have a winning hand regardless of what party is in power.

6   Robert Sproul   ignore (0)   2017 Jan 29, 6:43pm   ↑ like (1)   ↓ dislike (0)     quote      

BayAreaObserver says

playing both sides of the aisle so they have a winning hand regardless of what party is in power.

Certainly, many of them do.

OK, OK, my clickbait title was poor.
My point was WHY IN GOD'S NAME was it the business of Fannie Mae, or in the best interest of the American people, to backstop this deal?

7   BayAreaObserver   ignore (1)   2017 Dec 2, 3:48am   ↑ like (1)   ↓ dislike (1)     quote      

Now we have a GOP gift to Blackstone - go figure...

Tax Bill Adds New Deduction For Blackstone CEO And GOP Donor Schwarzman

Just weeks before the election last year, billionaire Stephen Schwarzman gave $2.57 million to the Senate Leadership Fund, a super PAC that supports Republican Senate candidates. Now he’s poised to see a huge return on that investment.

The Senate seemed ready to pass the largest overhaul of the nation’s tax code in a generation Friday, in spite of the fact many senators still seemed unclear what was in the bill. Lawmakers have been tacking on last minute amendments, and as a leading tax policy expert pointed out on Twitter, one of those amendments would be a huge boon for hedge funds and private equity managers — including Schwarzman.

University of San Diego tax professor Victor Fleischer first brought public attention to the carried interest tax loophole. The loophole benefits hedge fund and private equity managers, who are compensated through management fees, usually 2 percent of the money they manage, and a cut, traditionally 20 percent, of the profits they generate. The carried interest loophole allows those managers to claim the latter part of their compensation as long term capital gains, which are taxed at 20 percent, instead of income, which is taxed at 39.6 percent. Then-candidate Donald Trump decried the use of carried interest last year, claiming hedge fund managers used the loophole to get “away with murder.” On Friday, Fleischer, who joined the Senate Finance Committee’s Democratic staff last year, highlighted Senate amendment 1715, which was introduced by Sen. John Cornyn, R-TX.

According to Fleischer, not only does the tax bill allow private equity and hedge fund managers to keep their 20 percent tax rate on the profits they generate, this new amendment allows them to claim a 23 percent deduction on management fees — the part of their earnings that is currently taxed according to their income bracket.

More: http://www.ibtimes.com/political-capital/tax-bill-adds-new-deduction-blackstone-ceo-gop-donor-schwarzman-2622738
8   BayAreaObserver   ignore (1)   2017 Dec 2, 3:49am   ↑ like (0)   ↓ dislike (0)     quote      

@HEY YOU - "Will djt & the republicans stop this?"

NO - they will make it even better. MAGA and MORE WINNING See the post above this one.
9   Tenpoundbass   ignore (6)   2017 Dec 2, 6:07am   ↑ like (1)   ↓ dislike (1)     quote      

Put a Federal property tax on each rental unit.

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