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Why does it bother you that I share my opinion on his opinion? It's the truth sadly and unfortunately. The Mafia is corrupt and has no plans to release. Why have false hopes? Yes Hope is what drives and helps some folks (including me, which is why I am still in this garbage) but at the end of the day, little realism helps too. Otherwise we can keep shouting 1500/share 3000/share and world will look at us weirdly
You're good at copy and pasting but apparently you don't understand the difference between a capital waterfall in conservatorship and receivership.
2 months
2 years
2 decades
No hurry
Nothing changes
lol
Have you been to the beach lately? Next time leave the sand behind as it seems you have some in your crack.
If you're so confident big boy then surely you'll give me odds? While the price may exceed $325 within five years of release, it'll only do so because of a reverse split.
You think the conservatorship will end before 2026? Did Bradford tell you that?
YES
BY GAAP - not by politics or Treasury decsions which IMO can PREVAIL --- the payments to Treasury have been dividends that do not reduce the obligation of these relatively unique SP Preferreds (e.g. they do not trade and seem to have a permanent PUT to F and F (or FHFA as F and F )
can you walk through the steps IF sr converts to common --- that common still comes out at 8
thank you in advance
if you believe that - without doing serious math on most recent prices - is not common a great spec ((I assume you mean 8 dollars)
at 50% of PAR - I will take off 50% of JPS
It took you 2 months to reply?
May 20, 2024 - Sherrod Brown calls for new FDIC chair, breaking with Warren
https://punchbowl.news/article/finance/economy/brown-fdic-gruenberg-new-leadership/
yes Re: trunkmonk post# 710426
Do you think FMCC really wants to buy 2nd mortgages? Remember, FnF can lobby or try to publicly bring attention to the GSE’s plight. What they can do to get congress paying attention is to push plans that grab their attention. If I was one their CEOs I would try getting them to bring me in front of Congress. Then all bets are off.
Which lawsuit do you see having any chance of triggering this part of the agreement. I don’t see one having a chance of being heard before release.
no name nonsense Quote: “ The only real question is what kind of haircut the JPS are willing to take.” End of Quote
Willing to take??
Somehow the JPS will be miraculously saved, but the common shareholders are wiped out into oblivion. Seems this is the conversation repeated every day.
What makes the JPS so sure the Treasury will not demand payment in full on the Liquidation Preference wiping out both JPS / Common in receivership?
The Treasury’s LP continues to grow the regulator is authorized or required to place the companies into receivership under specified conditions, which would result in our liquidation. Money received by the Treasury pays off the LP by confiscation of our companies. Leaving nothing for JPS or Common.
As we speak the value of the LP is greater than the entire business operation of Fannie and Freddie.
Company’s Financial Statement
Risk Factors Summary
GSE and Conservatorship Risk
Quote: "Our business activities are significantly affected by the senior preferred stock purchase agreement. Our regulator is authorized or required to place us into receivership under specified conditions, which would result in our liquidation. Amounts recovered by our receiver may not be sufficient to pay claims outstanding against us, repay the liquidation preference of our preferred stock or to provide any proceeds to common shareholders." End of Quote Page 33
Link: https://www.fanniemae.com/media/46276/display
"In the event the assets legally available for distribution to stockholders are insufficient to pay the liquidation preference of all Preferred Stock in full, the assets available for distribution will be divided among all holders of Preferred Stock on a pro rata basis, based on the value of the liquidation preference of each series of Preferred Stock." Page 5
Link: https://www.sec.gov/Archives/edgar/data/310522/000031052220000121/descriptionofsecuritie.htm
Page 105 Quote: Regulatory Capital Requirements we had positive net worth under GAAP $82 billion. EXCLUDES the stated value of the Senior Preferred Stock $120.8 billion.
Short fall of $243 billion of available capital (deficit) to the total capital requirement.
https://www.fanniemae.com/media/51196/display
This wipes out both Common and JPS, not sure how no name thinks the JPS somehow has a saviour over the Common Shareholders. I believe if the crime syndicate wipes out the Common the JPS are gone too.
As for wise man hatred towards everyone on this board thinking he’s the only person that understands the LP is legally and properly accounted for in a distant footnote far removed from the make believe consolidated balance sheet, fact is numerous investors on this board has pointed this out for years. Mr Howard dedicated a whole writing on the fact. It’s not a secret. .
Barron, I appreciate your contribution to this board.
Well keep shaking - no one really cares.
But you are wrong and it's funny to think you're here either to shill PFD stock and say you're smarter than the other Billionaires who know the way that the company makes its money and spits out dividends like a broken ATM - but please keep saying things anyone could say who has no idea how the process works all the way down to the most rural single branch community banks and 30 year fixed rates to buy a home in a town of 250 people. Because you don't strike me as a banker.
https://www.yahoo.com/news/ken-griffin-bill-ackman-appear-172113739.html
This is definitely what a common shareholder would want then. Ackman is rallying for Trump and Scott wants to be VP at said rally. Paulson is fundraising for Trump is mentioned as Treasury Secretary when Trump wins NH Primary. All good with me.
Why do you have to point that out?
"The big money is not in the buying and selling, but in the waiting."
How long can you wait on a long? Sometimes the waiting is 20 years. Let people who don't do much waiting and more posting say what they wish. Why should it bother you when it's true?
Then DM me and let's put a few hundred thousand in escrow and if it doesn't pass over $325 in 5 years after 2025 when it will be released from conservatorship - you win, just like that. We just need to set it up with a mutual agreed agent and it's easy like that I'll sign and everything and show proof of income and assets. We can get a DM here and I'll give you my signal for my business number.
Give me your name in a Private Message I'll give you mine. I'll wage a good six figures in cash that we can put into escrow for a 5 year period after ending the conservatorship by 2025 that it will pass $325. That's nothing for you right? Won't cost me much I'll miss but it's enough to say I'll do this with you privately. I can bet over $325. Won't be right away. But it will be in play. I'll keep it to a short 5 years too- try to give you a good chance.
Actually yeah - that's exactly what will happen. Because Ackman, Paulson, Icahn are all people who have been supportive of Trump - Ackman even raising money for GOP with Trump possible VP Tim Scott, Paulson being the guy Trump mentioned in NH primary victory speech as his Treasury pick potentially and also Paulson his original Wall St support in 2016 and set a one day record hosting a Trump 2024 fundraiser. Icahn a friend of Trump. You really are stupid thinking you can just think the Treasury can screw over people for making a great play. You're also an idiot to think even if there's 200 or so regulars here that relative to the nation that's a large number of people who would get "windfall" as most of the United States - a good 99%+ have zero idea what Fannie Mae is and if they know of it no clue how it works. Moron.
The SPS aren't in Separate Account, plaintiff Joshua Angel.
The Separate Account is where the capital distributions under the guise of cash dividend payments have been deposited for the redemption of the SPS (a capital distribution #2, but it has an exception in the Restriction on Capital Distributions, U.S. Code §4614(e)) similar to the SEPARATE ACCOUNT FOR THE PAYMENT OF PRINCIPAL OF THE REFCORP OBLIGATION statutory provision in the 1989 bailout of the FHLBanks (Source)
A provision inserted in the FHEFSSA in this Chapter of HERA:
All the Preferred Stocks are redeemable at the option of the issuer by definition, and the repayment of the taxpayer's assistance is another Prompt Corrective Action, that is, first thing to do in layman's terms.
And then, once they were fully redeemed, FHFA's DeMarco had already enacted "the supplemental" in July 20, 2011, to use this separate account for the recapitalization with the same trick of using the exceptions in the plan of deception (CFR 1237.12).
This amount ($110B SPS overpayment) that aims "to meet the minimum capital level and Risk-based capital requirement" (Exception 1 in the Restriction on Capital Distributions. Also 2, 3 and 4 as it "(c) supplements and shall not replace or affect the one by statute" posted before that is meant for the recapitalization too) along with the PLMBS settlement and the illegal CRT expenses, net (Charter-unauthorized in the Credit Enhancement clause), are assumed that have been reinvested in "zero coupon Treasuries" like the FHLBanks did, and this is why we are requesting interest payments on the $152B owed to FnF. This amount due is netted out with the cumulative dividend on SPS that FnF owe to the Treasury (estimated at a weighted-average 1.8% rate) in its 5- and 6-year investments in Freddie Mac and Fannie Mae, respectively.
The hedge fund manager Donald Trump's plan with the 3rd phase, currently in place, is about the SPS LP increased for free considered a joke. Another capital distribution restricted (#1), they were never meant to stay, with the evidence that they are already missing on the Balance Sheets (Financial Statement fraud though).
Only the layman plaintiff Joshua Angel would say that it's in a SEPARATE ACCOUNT precisely the only thing that it's not: the gifted SPS. They are illegally absent from the balance sheet, so that Bill Ackman and ST in congress, can repeat the lie: "FnF continue to build capital through retained earnings".
Sandra Thompson in charge of Financial Analysis since she arrived at the FHFA in March 2013 as Deputy Director.
Also, Regulatory Policy: Critical Capital level absent from the ERCF.
Capital Policy: Adjusted $402B core capital shortfall over minimum Leverage capital requirement. A Separate Account behind. She is now obsessed in attempting to pass the Net Worth off as the capital that has to meet the capital requirements, as seen in her written testimony to the Senate one month ago. Also, as seen with how FnF calculate the capital metrics beginning with the Net Worth and subtracting the SPS, instead of the sum of their components, attempting to conceal also the Accumulated Deficit Retained Earnings account deep red (Also in her job in charge of Financial Analysis).
We don't need more laymen playing the fool and wearing diapers in this board. The Diapers Gang says that the SPS will "diaper", which is "disappear" in layman's terms.
Yep, Pat the government can do pretty much whatever they want.
The SPS are redeemed, not converted to Cs. Hello?
'Thank you' notes from other plaintiff, won't save him.
Thanks Rodney. If you look at page 59 you will see that the SPS are listed as 120 billion of liability and equity. I don’t know what that means. I do know that the LP is factored correctly in footnote 15. Here the proper accounting under the statutorily required regulatory capital rules of the Safety and Soundness act of 1992 is done. Not GAAP. It is shown here, using very poorly worded sentences, to result in a shortfall of greater than 200 billion. So much for a positive net worth. If you read this footnote they say something to the effect that “awh man, Do we have to follow this law? but but If we use GAAP we can show a 80 billion positive net worth”. Therefore as wiseman has been saying, the LP is legally and properly accounted for in a distant footnote far removed from the make believe consolidated balance sheet. Financial statement fraud at its finest brought to you by our helpful friends from the government running our companies for us.
You are dreaming every week something or the other. One week may be it will become true but not this dream or this week
Biden may release GSE to give new product to homeowners
R is smelling release & recap next week & hence on last day before week off they are trying to oppose FMCC new product under Cship.
They are currently waived until 2028
Changing/waiving any capital requirements here requires an actual act of Congress and the President's signature. That isn't likely to happen in this environment. Look to AIG, not a utility in California.
Republicans r as much corrupt if not more than https://t.co/yA0Cfn0USy was under Bush when they started the scam&Obama just seized opportunity2rob them since Corker wanted GSE gone.Under Trump nothing was✅bc he hired2many🏦swamp&here we’re16years later&gov still robs them blind
— Eva Gama (@EvaG6068) May 25, 2024
Personally I sized in when Berko was tax loss selling and sold half for 150%. Still at 80% commons 20% preferred.
In my opinion this is not a typical restructuring. This is highly regulated capital. Look to entities like Utilities in CA - the state has temporarily waived capital requirements so the companies can pay off wildfire litigation liabilities, for example. It's all about the ultimate stability of operations. If all the lawsuits are fruitless 2028 release not off the table.
“ What is the current LP of the SPS? Is that total LP reflected on the balance sheet?”
Page 59 Senior Preferred Stock Liquidation Preference $199,181 in billions
Link: https://www.fanniemae.com/media/51196/display
If this is released in the next few years, we'll find out who's wearing swim shorts when the tide goes out. $325/share LMAO
Like we’re going to assign some level of credibility to a freakin board poster whose aliass is “the man with no name”
Kt,
Thanks for replies. Can you educate me on the following? What is the current LP of the SPS? Is that total LP reflected on the balance sheet? If I were to look at the 10K or another official financial statement, where would the total LP be listed? I thought the LP has never been paid down. Still owe the original 200 billion borrowed. So isn’t the total like some astronomical number hundreds of billions and growing every quarter? If it is on the balance sheet why wouldn’t there be a negative net worth? If it is not on the balance sheet, is it a real liability? Is it fake? What is it exactly? Why do we need a cram down or even acknowledge it if isn’t on the balance sheet of the GSE’s? If it is not reflected on GSE balance sheet then would that not be financial fraud? Or has Wise Man been correct all along and it is in a separate account not reflected on the balance sheet? Thanks for any potential replies.
Because I've been an insider in multiple capital reorganizations and not once, ever, in the history of reorganizations that I know or been a part of, has the entity at the heap of the pile with all the leverage and the most to gain just said, "screw it, you fellas without priority in the waterfall, ya'll just take our billions and we'll walk out for nothing".
It's stupid to think Treasury will become a charity after all they've done. They will not walk away from $193 billion dollars in value. They will use it in the most advantageous way possible. Can you imagine the political shitshow if they just said "we just flushed $193 billion down the toilet and people who bought common shares for pennies get a windfall"?
I can't read this other poster for a reason
they have never been right
so don't listen to whatever it is
how can you be so sure
It’s like grade school kids behaving badly
Except no one corrects them to be better
It’s lord of the flies
This policy of rejecting everything done by the other is effin ridiculous. The parties shd be dealt a lesson and we elect 3rd party everywhere. Then only the country will have a chance
"We will never be released coz of this shitty politicians"
they well know how to make money in stock market for themselves. pelosi is famous for it, djt stock, remaswamy making in buzzfeed, mnuchin in ny bank, now pumping crypto for campaign donations
As long as we exist In a two party system, A will reject Bs ideas and B will reject As ideas. We will never be released coz of this shitty politicians
Freddie Mac’s proposal to buy second mortgages puts American taxpayer dollars and the U.S. housing market at risk.
— U.S. Senate Banking Committee GOP (@BankingGOP) May 24, 2024
@SenatorTimScott, @SenatorHagerty, & their colleagues called on @FHFA to reject this misguided and hastily executed proposal. pic.twitter.com/otp18sKTbv
wendy’s jr bacon cheeseburger for 1 cent,
wendy's $3 combo breakfast
burger king free hamburger if you spend $0.70
$5 mcdonald meal
$5 burger meal
so i got a french fry for close to $5. how are they affording these $5 meal? who whispered and said please do it, we need inflation numbers down just for few months, and then you can fok the consumers after nov 5, we have experience doing it through gse’s. let’s release millions of oil barrel for a month and dupe them. they keep causing more inflation with almost 200 billion in tuition despite scotus ruling and flooding the market with money. and on other other hand , took 529 and retirement down from $1500 to $0.40 over last 16 years when other companies making similar money are 2 trillion dollar companies. sick. isn’t it?
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