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BeCause something could happen that
would make the pps soar
This could be a very lucky day for us
Fight, Fight, Fight to Make Right
The Wrong done to Shareholders
Correct. Paulson did it ostensibly to help avoid a bigger crisis (even though it was forced upon the GSE's), but Geithner was the one who enabled the theft at the back and call of his boss. FHFA just needs to cut the nonsense and declare them financially sound and end the charade of conservatorship.
Oh wow. Up 2 cents in the premarket 10K shares. Today will be a great day. Today will be an uncrappy day. Captain TightCoil set our vector to the moon. We need clearance from Clarence. Roger that. Victor Victor are we clear for take off ?
FHFA first, then Treasury.
Overly optimistic, cut it in half 🫣
Over under odds going into Friday for Fnma
Under 1.50 -180
Over 1.50 +200
Place your bets
Kentucky derby warmup today
lol
FNMA is a Govt Investment, this has been made clear along with Temporary Indefinite!
Why don't you ask the Mods for clarification on the number of posts per day
I am feeling a surge today of 1 penny.
LOL
Go FNF
BOOM
FnF calculate the capital metrics 'upside down', that is, they take a different concept (Net Worth or Equity) and subtract different items unrelated to the capital metric that you are calculating (SPS).
I already called the plaintiff Mr.Pro Se out, when he did the same 3 days ago, posting:
Net Worth
-SPS
-some portion of the DTA
= unaware that he was calculating Tier 1 Capital in his reply, and not the Core Capital that I was talking about with its statutory definition. He simply copy-pasted the script he had received beforehand.
This is Freddie Mac. Fannie Mae does the same:
Their objective was to conceal the components of each capital metric, so people don't see that FnF have $-84B Accumulated Deficit Retained Earnings account combined, shown on the Balance Sheets , but it's important to see it here as a component of the capital amount that later is required a minimum through regulation and statute ($-216B RE with the offset -Reduction of Retained Earnings- attached to the $132B SPS LP increased for free), an account tasked with absorbing future (unexpected) losses and a gauge of the rehabilitation in a financial company (RE is Core Capital for the capital ratios). Justice Alito's prerequisite to allow the Separate Account plan through restricted capital distributions: "Rehabilitate FnF in a way...".
This isn't a coincide. FnF calculated it correctly in early Conservatorship, and, for instance, this is how I learned that the Treasury Stock (stock buybacks) reduces the common stock par value when calculating the Core Capital.
FnF and this unsophisticated plaintiff, received instructions to change how to report the formulaic of the capital metrics.
Remember that Sandra Thompson arrived to FHFA in 2013 as Deputy Director, in charge of "overseeing regulatory policy, capital policy and financial analysis". Everything that is being put into question since long time ago (The Capital Reserve is what has to meet the capital requirements; SPS LP increased for free and its offset, are missing in the Balance Sheets; formulaic of the capital metrics, etc)
They all receive instructions from the same big players.
And who doesn't.
First, it wasn't Mnuchin. Secondly, the SCOTUS wasn't informed that the NWS had ended.
The conservator has limited powers. You are repeating the take by Bill Ackman, who implied that the SCOTUS said FHFA has absolute discretion (Source).
O Ackman’s clerk, Bradford:
With your quote:
Don’t need to read TH’s BS. FnF owe nothing to anyone anymore.
Thanks Neo, I just subscribed to TH blog. Good info.
I never trusted him since day 1
Fannie to the Moon, Tomorrow
With leaders like Tim Howard, who needs enemies. Instead of rallying his followers, he's given up. PATHETIC!
Here government is and has always been the problem.
Hey government too bad you have immunity for your stupidity...
Now drop your weapons and get out of the way. Let the private sector back in. The private sector that made fannie and freddie capable of withstanding your onslaught and treasonous takeover....
Government... go home.
Serious question here. The Conservator is supposed to have a duty to "Conserve and Preserve." Let's forget the history we all know here and assume this to be true. How is it they can give away billion$ to low income housing when their stated duty is to conserve and preserve. I would expect they should not be allowed, legally, to give ANY of that money away. Other than being the government that nationalized the GSEs, how do they get away with this?
thought so. fhfa has amassed close to thousand useless overheads with job security and billions to dole out in various programs , they can't even do stress test properly. tsy getting free money 100%, lawyers getting fee and may get 300 million from class action, so why bother responding? right? shareholders lost everything, 16 years $1500 down to $0.40, lost retirement and 529. i have my doubts that this will resolve anytime soon as there isn't any urgency. only hope is libor and maybe cfpb case soon decided by scotus. we may get another calabria like who would move the goal post to 5% and hide stress test.
I know the feeling. I have contacted my congressman and senators, but no real response.
John Cornyn responded saying that the government cannot worry about people making bad investment decisions.
After I rebutted that statement he never answered again.
I am not following the Lamberth filings so I cannot say what the exact status is. But I think Navy previously posted a copy of an email from the plaintiff counsel saying they expected the USG to file an appeal, despite the verdict. I would agree with that thinking. I would estimate the whole Shebang could take another 12-24 months.
Unfortunately no response.
Translation: we are f*cked until TSY decides to play fair.
Benson is out in his official capacity tomorrow - he exited the last of his shares at 1.45-1.46, and yet we just closed at 1.48
https://www.sec.gov/Archives/edgar/data/1444618/000112760213017852/xslF345X03/form4.xml
Great find and thanks for sharing. I read what Tim wrote. All good stuff but somewhat confusing and hard to understand. Maybe someone can explain what he is saying in plain English.
clarencebeaks: WTF is the legal standing / situation with Lamberth's jury case. I have nothing coming since I'm only in FNMA but some clarity would be nice. Is he following protocol, are the two sides still haggling over something arcane, or .... ??!!
99.99 % of all insiders never spent a dime to buy shares.
How do/did they get shares ?
They got shares through granting.
Now most of insiders are filing form 3 to open for future granting of free shares upon releasing from conservatorship
Any insider information would/should have been
acted on when F & F were trading in the .50-.70
range. Quick increases of share price is the FOMO.
These two will not make any lasting gains until they
have been released from Conservatorship. Once these
are released, share prices will be in the double digits,
and volume will increase dramatically. Joe B doesn't
care and neither does his opponent. They have more
pressing problems. I hope to see them released in my
lifetime, but it has gone on too long.
stockanalyze, yes I have contacted several of the lawyers involved, in addition I contacted the FINANCIAL SERVICES Committee Members 118th CONGRESS. Also, contacted my local House of Representative. Hope you are doing something to help our cause. Best Regards
Crappy Alias (RickNagra)
Read the latest comments from Tim Howard on the senior preferred stock and SPS line of credit: https://howardonmortgagefinance.com/2024/01/16/the-crt-charade/#comments
rodney, you have written this many times over here. the thing is to reach out to all the plaintiff lawyers involved to date. have you?
Rkt - that's how a stock shd react for fascinating results in this housing market
FNMA and FMCC - go figure
3R or pay $1.5B fine with upcoming FNMA common lawsuit
For both JPS & FMCC common, total fine plus interest is $900M. If you add FNMA common in future lawsuit, GSEs have to pay $1.5B.
Why would they pay $1.5B? They can just do 3R. That makes everbody happy.
Please pass the joint friend…
Well said. I prefer just to keep it more simple. The NWS is alive n well and to be employed at the discretion of the conservator.
Thanks.
Suit Up with High-Altitude Gear
and take a 3D Printed Fish Filet
for the Flight to the upper realms
of FNMA and FMCC stratosphere
"whack a mole" day today. MM's have strict orders to keep under 1.50
it's all fixed
FNMA volume so far: 1.8 million shares
FMCC volume so far: 645,000
WEIRD
What it does mean is that if they are to do so (convert senior preferred shares to any other class) they will need another amendment. After the jury decision, presided over by Lamberth, I want to see how they pull off yet another self-enriching act knee-capping current shareholders. Any new amendment will be the perfect opportunity to reassess the full picture and, in light of all that has transpired, the new assessment should be quite positive for the company and current shareholders.
And think about who has positons... John Paulson, Carl Icahn, Bill Ackman, etc....Think of the Legal Power those 3 guys have on our side and their ability to litigate with the top lawyers in the game!
Let's give the ba$tard$ what they so desperately desire: free reign to enrich their selected winners. Time to false flag post you have had it with the corruption and are exiting your positions. I'll start: over the next week I will liquidate in 25% chunks. They obviously will not make a move until they face no risk of enriching the plebians.
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