US and EU Leaders Shake Hands Following Trade Deal
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12 minutes ago
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Trump Asks Bank CEOs to Pitch Fannie, Freddie Stock Offering
(Bloomberg) — President Donald Trump is bringing in bank leaders to meet with him one by one at the White House. Beyond the economic discussion, there's a chance at a big payday for their firms. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Trump is asking chief executive officers for their pitches on monetizing mortgage giants Fannie Mae (FNMA, FNMAS, FNMAO, FNMAL) and Freddie Mac (FMCC), including a major public offering of stock, according to people familiar with the matter. Last week, Trump invited JPMorgan Chase & Co. (JPM) CEO Jamie Dimon to meet him at the White House. Goldman Sachs Group Inc. CEO David Solomon was set to meet with Trump on Thursday afternoon, and Bank of America Corp. CEO Brian Moynihan is also expected to meet the president in coming days. Talks are likely to include other banks as well, the people said. Officially named the Federal National Mortgage Association and Federal Home Loan Mortgage Corp., the two entities are massive financial organs of the US housing system. The companies have been under government conservatorship since the 2008 financial crisis. Fannie and Freddie have both returned to steady profitability, with earnings being retained. Trump said in May that he's giving 'very serious consideration to bringing Fannie Mae and Freddie Mac public.' Small portions of the stock already trade publicly, but a vast majority of the firms' shares are held by the government. After Bloomberg reported on the talks with bankers, shares of both companies rose in extended trading on light volume as of 4:30 p.m. in New York, with Fannie Mae climbing 14% and Freddie Mac advancing 5.7%. Policymakers in Washington have struggled for years with what to do with the so-called government-sponsored enterprises — one of the last loose ends from the crisis era. Efforts to overhaul the US housing finance system and release the mortgage giants from government control have repeatedly foundered in Congress amid concerns about the potential impact on mortgage costs and the companies' role in financing affordable housing. The nonpartisan Congressional Budget Office released a report last week finding that the sale of Fannie and Freddie would be a mixed bag for the government, at least in terms of accounting. The government could make $206 billion from its stake in the companies, the CBO said, but only if they were put in receivership. Hedge funds and other investors have long called for the US to release the pair from conservatorship, which could provide a windfall for shareholders. Analysts have said it could be one of the biggest public offerings ever — meaning it would probably offer hefty fees for the banks picked to lead it. Many complex details would have to be worked out for any such plan, including what stake would initially be offered in any sale, and how investors who hold existing shares would be treated. Trump is asking the CEOs to offer their ideas on the strategy for taking the organizations public and how their banks might play a role, the people said, asking not to be identified discussing private information. The administration also has conferred with Wells Fargo & Co. as it speaks with lenders, one person said. A spokesperson for the White House had no immediate comment. White House Press Secretary Karoline Leavitt, asked earlier Thursday about Trump's meeting with Solomon, declined to detail the purpose. 'I won't discuss the president's private meetings from this podium,' she said. Spokespeople for the banks declined to comment or didn't respond to messages. —With assistance from Yizhu Wang, Patrick Clark and Katy O'Donnell. (Updates with Wells Fargo in 11th paragraph.) Burning Man Is Burning Through Cash Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Yahoo
12 minutes ago
- Yahoo
Judy Sullivan not running for reelection to closely divided Brockton school board. Impact?
With the field set for upcoming municipal elections in Brockton, the contests for seats on the Brockton School Committee are unusually competitive. There are at least two candidates for seven positions on the Committee. The mayor is the eighth member and chair of the Committee. In the past two elections for the two-year seat, it was typical for most candidates to run unopposed. In 2023, four races had only one candidate and, in 2021, five. All seven incumbents are running for re-election but one Ward 5's longtime committee member Judy Sullivan, creating the potential for a shift in the balance of power on the at times closely-divided board. 'Want me out' Brockton school board member reveals why he was discussed in closed meeting Who is running for School Committee? Brockton is split into seven wards, and each is represented by a school committee member and city councilor. Here are the candidates for the Committee in each ward, with the incumbent indicated by an (i): Ward 1 Stephen Coleman O'Malley Jorge Luis Vega III (i) Stephen V. Pina Ward 2 Claudio Eliseu Depina Gomes (i) Cynthia D. Mccall-Hodges Ward 3 Ana C. Oliver (i) Omega L. Corbett Matthew Stanton Ward 4 Tony Rodrigues (i) Maria Antonia Daveiga Ward 5 Sandra Maria Centeio Nolan Napier Ward 6 Joyce J. Asack (i) Lucibele Daisi Delgado Ward 7 Timothy Joseph Sullivan (i) Jimmy Lutchi Pereira The races with three or more candidates, for Wards 1 and 3, will have preliminary votes on Tuesday, Sept. 16, 2025. The two in each ward who win the most votes will go on to the general election, held Nov. 4, 2025. How competitive were these positions in recent years? In the most recent election, in 2023, four candidates ran unopposed: Kathleen Ehlers, Ward 1; Tony Rodrigues, Ward 4; Joyce Asack, Ward 6; and Timothy Sullivan, Ward 7. Ehlers resigned in March 2024, and was replaced by Jorge Vega. In 2021, the same four candidates also ran unopposed. Judy Sullivan was also unopposed then. Also, the race for the Ward 3 seat was unusually tight in 2023, with Incumbent Ana Oliver beating Matthew Stanton by only three votes. Stanton is on the ballot again this year. - With reporting by Chris Helms Send education reporter Jacob Posner any story ideas or news tips at JPosner@ This article originally appeared on The Enterprise: Brockton School Committee incumbents face packed field in election Solve the daily Crossword
Yahoo
12 minutes ago
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A 2nd Democrat has declared a challenge to Fitzpatrick in '26. Meet Rob Strickler.
The Democratic 2026 midterm primary in Pennsylvania's 1st Congressional District is shaping up to be a contested race approximately nine months from now. Buckingham resident Rob Strickler announced his candidacy in July for the party's nomination to run against U.S. Rep. Brian Fitzpatrick, R-Pennsylvania, next November. Strickler, who described his campaign as 'neighbor-to-neighbor politics,' became the second Democrat to launch a congressional campaign for this seat. He's set to face off against fellow Democrat and Bucks County Commissioner Chair Bob Harvie in the spring. Brian Fitzpatrick getting married?: Bucks County congressman proposes to Fox News reporter The 62-year-old Bucks County native's said he is not seeking donations in his campaign and will instead rely on 'grassroots support through direct voter engagement.' Often with his 'democracy dogs' in tow — Kelpie, Nessie and Daisy Mae — Strickler has been speaking to voters at local events seeking support in the upcoming election. 'I say this only half-jokingly, but these dogs ... have been very helpful and effective in my outreach,' Strickler said in an email this week. 'I've taken Nessie to protests and rallies and people love her, which gives me a chance to introduce myself and our campaign.' Born and raised in Levittown and the Fairless Hills area, Strickler manages an eyewear business after a career in the corporate world "as a designer, creative director, video game designer and software product manager," according to Strickler graduated from Pennsbury High School, where he met his wife, Sue, before graduating from Kutztown University with a bachelor's. Apart from three years living in Delaware, the Stricklers have lived in Horsham, North Wales and Buckingham over 37 years. Strickler's campaign announcement didn't mention Harvie, his most immediate opponent, instead taking aim at the GOP incumbent. He said threats to democracy and 'inadequate leadership' compelled Strickler to run for office. "I'm no politician. I've never had any ambitions for public office," Strickler said in the release. "But due to Donald Trump's authoritarian attacks on our democracy and disregard for our Constitution, along with Brian Fitzpatrick's cowardly inaction and silence, I fear for the rights and freedoms we've come to take for granted as Americans.' Strickler cited Fitzpatrick's vote against Trump's second impeachment following the Jan. 6 riots at the Capitol Building and attempts to overturn the results of the 2020 election. 'If you won't impeach for a coup attempt, then what will it take for Fitzpatrick to oppose Trump?' Strickler said. He added that he would legislate for fiscal responsibility and working families if elected by cutting taxes for lower income earners and raising taxes on the wealthy. He also criticized Fitzpatrick's support for earlier versions of the federal budget bill that was signed into law July 4. "We need to be fiscally responsible and reduce deficit spending for the sake of today's children and future generations," Strickler said. "Meanwhile, billionaires continue to benefit while low and middle-income Americans get no relief. I say cut tax rates at the lower end and shift rates higher those at the top." The final version of the so-called 'Big, Beautiful Bill' that sought to enact Trump's entire legislative agenda in one law saw opposition from Democrats and Republicans over its expected $1.3 trillion in cuts for health care and food programs while extending tax cuts that amount to $3.7 in revenue over the next 10 years. Fitzpatrick was one of two Republicans to vote against the final version of the bill. The Middletown lawmaker citing Medicaid cuts and 'several other Senate provisions' for his dissent. Democrats have criticized Fitzpatrick's 11th-hour opposition, saying his vote supporting an earlier draft could have killed the bill months earlier because it would have resulted in a tie vote. Bills that have a tied vote in the House fail to pass. A spokesperson for Fitzpatrick's campaign was quick to push back on Strickler's comments earlier this week. 'If Democrats want someone to complain and lie about Brian Fitzpatrick without offering any solutions of their own, they now officially have options in the Democrat primary between Bob and Rob,' said Chris Pack of Defending America PAC. 'The truth is that Brian Fitzpatrick has been ranked the most bipartisan Member of Congress in America because he consistently puts his constituents first and crosses party lines to do what's right for Bucks County.' Harvie's campaign declined to comment for this story. Chris Ullery can be reached at cullery@ This article originally appeared on Bucks County Courier Times: Buckingham man launches grassroots campaign for Congress in PA
