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First, Barron is another alias of the rogue plaintiff Mr.Pro Se, among his 30+ different aliases he uses regularly on this board. Just so you know.
We don't need hedge fund managers turned into Shareholders' Rights advocates, and even the attorney Hamish Hume hiring a famous Human Rights activist, Rebecca Musarra (Source. At the same time President Biden was being portrayed on the media as a tyrant. Coincidence?), defending our property rights because they remain intact during a conservatorship.
Among the property rights, the legal ownership is embedded into a stock, and we have always had the right to dispose of our shares, that are kept in our broker accounts under custody.
Other rights that emanate from this ownership, like the Voting Right, right to scour the books, etc., were transferred to the conservator momentarily, so that it helps it fulfill its mandate, otherwise two-third shareholder vote would still be necessary and we would have opposed to every action, for the sake of saying no.
Therefore, our rights weren't "eliminated" as the hedge funds claim in court. They were transferred to the conservator. They are still there and, at some point, they will be returned.
And a point in time is related to the soundness and solvency of FnF "Put FnF in a sound and solvent condition", that is, their capital levels, which is how it's measured. This is why the prior FHEFSSA established MANDATORY release upon declared Undercapitalized: Core Capital > minimum (Leverage) capital requirement. Struck by Calabria's HERA but it's still a useful threshold to ponder.
What has happened is that, before, the minimum Leverage capital requirement was calculated with 0.45% of the off-balance sheet obligations (MBS Trusts. Financial statements consolidated on the balance sheets), and now, it's 2.5%. Notice the difference?
A Basel framework for capital requirement pursuant to the UST's recommendations on ending the conservatorships. A 3-option Privatized Housing Finance System revamp, with the goal to remove their privileges in capital standards as a result of a subsidized guarantee-fee, and the UST backup of FnF attached: Finance their operations as a last resort (upon negative Net Worth), after FnF had tapped the private capital markets before ((2) in the Public Mission: "respond appropriately to the private capital markets". What FnF did during 2006-2008 with issuances of Cs and JPS), otherwise their Public Mission can't be carried out (high credit risk and not properly compensated).
The crooked litigants with their frivolous lawsuits, have had the mission to deprive FnF of the possibility to rebuild their capital. First, agreeing with a 10% dividend during conservatorship and pretending that FnF are mutual funds, so they simply ask for SPS "repaid" and with the SPS overpayment, a $29B cash refund. $0 Core Capital recovered as a result.
They haven't challenged the SPS LP increased for free, so that now, they stage a necessary haircut in the amount of this gifted SPS, and attach it to a haircut on the JPS too, as required by Mnuchin for the JPS of his buddy Berkowitz (holding several series of JPS that nowadays no one knows where they are, and no one cares. All lies.) and Co, according to Calabria in his book.
The last option, they ask for debt forgiveness (Argentina/IMF- style), which is pathetic and it's struck down right away, after agreeing with the government that everything is authorized, forgetting the second leg regarding that it forms part of a Separate Account plan that rehabilitates FnF (the "authorized by this section" in the FHFA-C's Incidental Power), as required by Justice Alito and judge Willett (financial rehabiltation is related to capital levels: SOUNDNESS. Not with a $125B Net Worth built with the $125B SPS LP absent from the balance sheets, but with the $426B common equity generated by FnF and held in escrow in accordance with the law).
Finally, the courts have no say on the conservatorship of FnF, so going to court is pointless. Besides, it can be considered unlawful for the fact that to become Director of the FHFA and thus, conservator nowadays, it's required by law to have a deep understanding of mortgage finance and financial matters, which isn't the case in a judge, let alone the jurors.
(f)Limitation on court action
Except as provided in this section or at the request of the Director, no court may take any action to restrain or affect the exercise of powers or functions of the Agency as a conservator.
"Bad faith and unfair dealing when the Regulator......"
It's a Conservator to begin with. Wake up, bro.
You still don't understand that the CONSERVATOR's Incidental Power allows it to pay down the SPS and recapitalize FnF in a Separate Account and lie about it (your "bad faith and unfair dealing"). This is why the Separate Account plan is both authorized and lawful, and we can't claim the payment of Punitive Damages for it (although it has needed 7 Securites Law violations that aren't authorized, obviously, that need to be settled. One of them is stock price manipulation, precisely, for this Separate Acct plan), because it's:
any action authorized by this section, in the best interests of FnF or the Agency
It represents the amount of future Net Income that will need to be realized before remittances to the Treasury resume.
Seems to be a predictable or predetermined option that was well thought out premeditated idea - when will it come in to play is any body’s guess
$Fannie $Mae Announces $Release of 1st Qtr 2024 Financial $Results
$Tuesday morning, April 30, 2024, before the opening of U.S. financial markets.
April 23, 2024
Company to Host Conference Call
WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced plans to report its first quarter 2024 financial results on Tuesday morning, April 30, 2024, before the opening of U.S. financial markets.
Fannie Mae has scheduled a conference call to discuss the company’s results at 8:00 a.m., ET, on April 30, 2024.
Prior to the call, the company’s first quarter 2024 earnings news release, quarterly report on Form 10-Q, and other supplemental information will be available on the company’s Quarterly and Annual Results webpage at fanniemae.com/financialresults. Following the call, a transcript will be published to the same webpage and will remain available until our next quarterly earnings announcement.
CONFERENCE CALL PARTICIPATION DETAILS – Fannie Mae First Quarter 2024 Financial Results
Event day and time
Tuesday, April 30, 2024
8:00 AM (ET)
Listen-only webcast:
https://event.webcasts.com/starthere.jsp?ei=1665149&tp_key=3a283801d1
Click on the link above to attend the presentation from your laptop, tablet, or mobile device. Audio will stream through your selected device. If you have difficulty accessing the webcast, please click the "Listen by Phone" button on the webcast player and dial the number provided.
Slap that Ask Gentleman Haramashii Candles formation evident, no resistance until $2.32 !
"GSE Act" is how FnF call the FHEFSSA of 1992 in their Earnings reports, deviating from the original name cut short for "FHE Act" that appears in formal documents, like in the SPSPA:
It isn't just an attempt to undermine the existence of the FHEFSSA, with all the definitions capital-related, and to conceal the fact that FnF have a congressional Charter (The Charter Act), blending both names into GSE Act, already pointed out.
It's worth highlighting that they also target the fact that FnF are private corporations, and instead, they follow the mantra initiated by Mnuchin, of emphasizing that FnF are Government Sponsored Enterprises (GSEs) when talking about FnF, pretending that this concept prevents the notion that FnF are private shareholder-owned enterprises and public companies (publicly traded stocks that represent an aliquot portion of the ownership of FnF), along with the other mantra: "Cash Equity", all of a sudden, they turn the FHFA into HUD, and FnF turned into the FHA's MMIF.
In sum, they conceal that FnF are congressionally-chartered private corporations.
There is nothing wrong with the name GSEs, if it isn't an attempt to conceal that it's a name deviated from the original government-sponsored private corporation, that we can see in the 1968 Act with the privatization of Fannie Mae, where Ginnie Mae was spun off, taking the special assistance functions with it.
Finally, if someone watched the Senate hearing of last week, he hardly would have noticed that FnF are still in Conservatorship (Conservatorship occurs only in your imagination) and then, shocked after realizing that there isn't the required autonomy of the FHFA from FnF, 15 years on.
A lot going on with a simple: "GSE Act".
They want to deprive everything of its value or meaning: unbacked tokens, etc.
The case against the crooked litigants and other peddlers of the government theft story using formal documents, publicly available, is clear.
It began with "SPS, repaid" and with the overpayment, a "cash refund", thinking that FnF are Mutual Funds, like the FHA's MMIF, disregarding that, if FnF reduced the SPS and more, under the guise of dividend payments, it prevented them from recording the Retained Earnings as Core Capital in the first place (double entry accounting Cash-RE), and then, the SPS are reduced with simple cash. Watch the chart of Freddie Mac in my signature image, to see how it played out (This is fixed with the way the adjusted Common Equity as of end of 2023 was assessed, for the BVPS).
It has ended up asking for debt forgiveness (SPS canceled), like Argentina and the IMF nowadays, both begging for an authorization by the UST to cancel the debt.
IMF: "Argentina is doing great!". Yeah...great, with the IMF interest payments of April in arrears.
All of the above can't be part of the complaint and remedies sought by a serious lawyer. This is the reason why the attorney for Berkwitz and other 4 cases he seized control of, expelling the original lawyers to control the narrative and school the judges against us, David Thompson, said that he is an unsophisticated lawyer in financial and Capital Adequacy matters (watch the tweet cited below that includes an audio recording, during a Conference Call hosted by Pagliara), in an attempt to be exempt from crippling liabilities: stock price manipulation, abuse of court process and Making False Statements.
He also has formally asked in the U.S. courts for a swap SPS for Common Stocks, at the same time that Mnuchin required the same terms for the JPS, despite that the JPS would be wiped out with the current $125B Net Worth and $310B SPS LP outstanding, according to Calabria in his book, so we don't have documentary evidence of this government proposal to bail out the JPS holders and the assault on the ownership by the holders of preferred stocks (After a haircut, a swap at a rigged price automatically makes them whole on day one when the price rises).
This is called "playing the fool", because the Separate Account plan is what legalizes every action, in other words, it's set forth in the law, rules and basic finance, that all of them are being shamelessly covered up or deprived of their meaning, on daily basis. Therefore, we don't need Treasury documents corroborating it. A Separate Account was already carried out for the FHLBanks in 1989 through legislation (Section: Separate Account for the repayment of principal of the Refcorp obligation). We also see the intention to carry it out with the FHFA Final Rule of July 20, 2011, expressly writing that it's a follow-on plan ("the supplemental") in the CFR 1237.12, that authorizes "a capital distribution (deplete capital) for their recapitalization (build capital)", in a separate account, obviously (outside their Balance Sheets), suitable for the moment the SPS LP had been fully paid down with the exception to the Restriction on Capital Distributions by statute:
(c) It supplements and shall not replace or affect any other restriction on capital distributions by statute.
If Ds claim they confiscated💵and judges agree,Ps can't claim the same.
— Conservatives against Trump (@CarlosVignote) April 23, 2024
Flawed complaint &remedies:
-SPS repaid
-$29B cash refund
-Swap SPS/JPS(Mnuchin)for Cs.
0️⃣C.C.recovered(Adj $402B shortfall over Min L.requiremnt)
-SPS canceled? For a 3rd🌎country.0️⃣chance in FnF.#Fanniegate https://t.co/MZtgDZ1hTg pic.twitter.com/rpSv9P2aij
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