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Good Luck to all of us
I would suggest - and you likely know - that at this point the F and F JPS are a capital gain play.
If we all win - then we should expect that as JPS* become worth $25 (or an 'offer' for 50% or 75% comes) that dividends will be stopped and the paper (JPS) called in by F and F or whatever the name is then
*note if JPS get to $25 or some solid number - I also assume FNMA and FMCC will be providing a good capital gain from today's price - likely even better yet
Can't get one over on you...you is sharp
Expect more Red, this Pom Pom is offer !
When your retired time doesn't matter ! Will in time fannie and freddie be released come Nov 5th? What's the plan going to be in time? I have all the time in the world as I'm retired !
MRJ
I agree the NWS sucked
but the big action remains the STEAL by Bush and Paulson and SCOTUS denying us any rights
The NWS was salt in the wound ---- but had there been no WOUND --- there would be no NWS
I say that as it is what i believe AND a defender or BO ----- (but a defender who does say (100 times by now) the NWS was 100% a complete Taking)
I have no idea who of JOE and DJT might free us
No real idea
But it bugs me no end when we had 4 years of nothing and even negative (re capital level) under DJT - why those who otherwise love DJT keep saying he is good for us
There simply is no such proof (other than some words early in his admin - positive words but that became a report - policy that includes the option of closing them down; and a letter very supportive but a letter to one Senator after he was out of office and talking about common stock the GOV owned - so IMO a joke)
but - I think the answer - life with value or death - is an Executive Branch action
CORRECTION in yesterday's comment: WAZEE CASE. The DOJ wanted Sandra Thompson in, not out as Defendant.
It uses same wording of the Rule 25, which is all messed up.
It doesn't change the point: blame Calabria.
CORRECTION(WAZEE):@TheJusticeDept WANTED ST IN
— Conservatives against Trump (@CarlosVignote) May 27, 2024
Same Rule25 wording "the successor is substituted"?
"Automatically" 2yrs later(It proves the point: Blame Calabria)
Last-minute substitution once the DOJ was told "no appeal" soon.
And
Blame DeMarco: ST dismissed(Lamberth)#Fanniegate https://t.co/f2gVswLo9g
Yikes! The "cash guy" that invented the concept "cash Equity", better known by the corrupt attorneys as "Hi Rum!" in private emails, strikes again.
He is happy that FnF get to keep the cash with the SPS LP increased for free, so they can make investments, notwithstanding that FnF have $8 Trillion in MBS (a MBS is called "investment in a mortgage") with the cash provided by the MBS investors.
They have also tonnes of cash for Liquidity in their Contingency Portfolios ($129B in Freddie Mac and $120B in Fannie Mae, as of end of March 2024), with investments in debt securities among their "Eligible Assets", like Treasuries, valued at fair value, not like the battered banks with their HTM portfolios, enabled by their imprudent Regulators.
Additionally, other Eligible Assets in their mortgage-related investments portfolios (investments in Agency MBSs).
All that matters is the effect in Equity or Net Worth. That's our wealth in a company.
And if you read "Common Equity Sweep", you should be worried, because "Common Equity" is the portion of the Net Worth that belongs to the common shareholders, and CET1 is what is required for the recapitalization (rehabilitation in a financial company: restore to a sound and solvent condition).
Only real difference is... the companies keep and are able to reinvest the earnings and in this interest rate environment is worth something.
when greed got in the way
This is why the UST recommended the Basel-framework for capital requirements, for the release from conservatorship, in its 2011 Report to Congress at the request of the Dodd-Frank law.
It required guarantee fee increases that reflect their risk, so that FnF can be held to the same capital standards as the banks. Thus, don't depend anymore on the UST backup of FnF in the Charter Act.
15 years in the making.
Don't worry about the release.
You should worry about the corrupt Plaintiffs and Co that want to deplete capital in FnF with the 10% and NWS dividends, the SPS LP increases for free, etc.
I think it would be more accurate to say that they cannot assess the economic consequences for the housing market and the economy in general if they release the twins.
I own a huge amount of Freddie $50 JPS and Fannie $25 saving them for dividend payments into my retirement later years and when / if released ! My freddie commons are a wild card play, I own more of those than JPS and have flipped them a couple of times but holding tight for a run up to Nov and into 2025 see what happens. That's my game plan everyone has there own! Trade accordly ! Happy to see everyone make a ton of $$ if they ever get released !
Yes, the government behaved like a bunch of crooks and it got worse when Geithner/Obama implemented the NWS.
If the NWS has not happened we would be released already.
Yes - several billion dollars of JPS were sold - I bought FNMAT at $ 25. The Growth Fund of America bought more. No disclosure by the UST - this memo was not public until 2013 or so as the FCIC Commission records were made public. The NEC and UST knew that this was going on all along and duped the Senate Banking Committee including Calabria that they were dealing fair. Also - they let Wall Street sell Billions to unknowing JPS investors.
i have to agree with you. i do wonder paulson, corker, demarco, alito, calabria , mnuchin who foked this, belonged where? and if they just hate these two companies philosophically that has saved our economy over and over again and still making money hand and fist?
there is optimism here only because lael has already declared that current admin isn't doing anything, so that road is closed. so can't blame everyone to look on the other side, right or wrong. they are hoping, hoping that it will happen this time. may be proved wrong. interesting that he says courts, judges, cases are all rigged but when it comes to gse's , he doesn't? the politicians are adept in making money for themselves in stock market (pelosi, djt stock, buzzfeed, mnuchin on ny bank, crypto and so on...) but when it comes to taking away hard earned retirement and 529 that has all been taken away , $1500 down to $0.40 over last 16 years, with many dead without seeing a penny. nada.
After the letter, dated March 8, 2008, the regulator declared that FNF were sound and solvent. Hank Paulson stated that treasury did not plan to inject capital into FNF. After that letter FNF sold JPS and obtained a lot of capital that way.
Yet Hank Paulson put FNF in C-ship in September, 2008 by force.
It is all lies!
Looking for big rally on Tuesday for Fannie and Freddie
Calling Strong Buy then Hold for the GOLD
Buying into Fannie and Freddie is Patriotic
because you're investing in America
You are wearing your R hat and looking through that lens
Answer this to yourself :- if you get the vibes in the next 4 months that Biden will release in 2025 and similarly you get the vibe that Trump is going again with Mnu and MC, if you think you will vote Biden, we can have a argument
Btw, I ain't no D if you think I am one. I hate politics
Calabria was appointed by DJT and was there for two years under DJT - with MNUCHIN as Treasury and Barr as Justice
So - choose of the only real two choices
DJT as POTUS - is a flunky managed by his appointees? or he is easily fooled by them? or they simply ignore him with no consequences? that would explain nothing good
Or IMO REALITY
DJT did not care one wit about F and F and equity -- that would explain nothing good
Moderator - all this political talk said in context of many posters noting an expectation of massive great gains in PPS due to ACTIONS by "DJT round two"
what about the paragraph I posted that repeats in clear language that every dollar - to the dollar - of growth in so called reserves is matched with an IOU to the LP count --- do you not understand . Holding cash but writing an IOU is not moving an inch (unless someone sometime kills the LP (wipes it out - calls it paid off) -- and THEN and ONLY then the CASH has a real worth
there was no end to paying a shitload of money to GOV - period
there was a lot of noise --- but it lead to a report - adopted by POTUS - that offered as an equal option -- bankruptcy
If you like DJT - cool ,, - but nothing in his four years as actual POTUS and head of Treasury and head of Justice proves he favors anything good for equity holders (note in your writing and that of other DJT fans ---- it is OBAMA and BIDEN who are no good - but in the case of DJT all the talk is about underlings who thwarted him ----- do you not see how that is not logical)
the NOV election has ZERO to do with anything FNMA
Thank you
can you specify the DOCUMENT page you are using - as I did not see a table
Re xxxx 552
all I was saying is - at 50% of PAR/FACE or $12.50 on the $25 JPS - I would sell 50%
A different poster had their reasons why they thought that might be an end or major resting point
The LP -v the Swipe is essentially the same... just a slight of hand trickeration on the uninformed public.
Only real difference is... the companies keep and are able to reinvest the earnings and in this interest rate environment is worth something.
How this ends... nobody knows. Its all speculative at this point of the temporary con-serveratorship.
I'd like to believe that eventually someone will speak up; and unmask the thieves and the roaches will run from the room so the peoples business can be done without the hooligans.
The goal here should have always been put the entities back to the shareholders after using them to calm the markets; but that's when greed got in the way and that's where we are now....
I was just thinking about the timing of all this the other day and it got me thinking. WHAT TIMING, how it all went down in 2008. It's pretty much a steel of private companies for the banks and greedy WEF to control the world in every aspect. Remember what they said ( YOU WILL OWN NOTHING AND BE HAPPY)
Those losses are just the beginning.
As shareholder capital gets wiped, the government will have no choice but to seize the company and
place it in conservatorship or receivership. Importantly, mortgage-backed security holders guaranteed
by Fannie Mae will see no losses.
Classic grab by those in power!!!! Turning the mortgage market into a Cartel just like the dollar, Banks, Car market, Food production, Medical. It's happening faster now across the board so if DJT does win the Whitehouse then what will 2025 to 2028 look like? Will there be changes in the mortgage companies Fannie and Freddie????
HI Ace - it is not What IF - it is what was actually planned:
From the NEC to the UST on March 8, 2008
https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-03-08_Treasury_Email_from_Hason_Thomas_to_Robert_Steel_Re_Source_document_for_Barrons_article_on_FNM.pdf
Government Bailout Is Necessary, Likely, And Potentially Helpful
Fannie Mae is demonstrably a failed social experiment. A realistic assessment of its balance sheet shows
its net worth to be overstated by tens of billions of dollars and the company to be already insolvent.
Even with all its accounting legerdemain, Fannie's losses are an accelerating horror show, with
shareholders losing $1.5 billion in 07Q3 and $3.7 billion in 07Q4. Those losses are just the beginning.
As shareholder capital gets wiped, the government will have no choice but to seize the company and
place it in conservatorship or receivership. Importantly, mortgage-backed security holders guaranteed
by Fannie Mae will see no losses. The government will likely allow debt holders to fare okay, with either
no or token losses, perhaps 1%.
Shareholders, both common and preferred, are likely to be left with nothing. However, these
shareholder losses have already been locked in by the company's credit decisions over the past few
years and cannot be helped. It must be remembered that Fannie is the biggest mortgage risk holder in
the biggest mortgage crisis.
A fully government-owned guarantor of mortgage debt might be exactly what is called for given the
current housing crisis. While various proposals have been floated to expand the FHA to meet this role, it
has neither the infrastructure nor the expertise to address the broader mortgage market. A nationalized
Fannie Mae would be refocused to directly address the various problems of illiquidity, affordability, and
sustainability in the mortgage market. Without the need to satisfy a fiduciary duty to shareholders,
Fannie might finally be able to perform its affordable housing mission in a helpful and proactive manner.
It's the same Common Equity Sweep as before.
Instead of through a cash dividend payment, through the offset attached to the SPS LP increased for free.
The same Retained Earnings account (CET1) flushed down the toilet.
Same prohibition and the same breach of the FHFA-C's Rehab power.
A NWS 2.0.
He and SM did it under pressure, it was the greatest learning event in the 15 years of GSE theft. but it seems P lawyers and KTCarneyCorker types, cant see it, or just want to ignore it cause of their laser focus loss efforts of greed.
He did that only after the 5th Circuit Enbanc ruling. After becoming their Conservator, he still sent one sweep to the Treasury.
Calabria aka Calamari also hid the stress test results. He plays with his cat all day long. He is no good. He now posts here everyday under the user name FFFacts and makes fun of my new girlfriend Gabby and our first newborn and many more to come.
It literally just popped up on the sticky board.
Calabria did something, he stopped the 3B limit, ended the NWS, placed a capital limit, to lead the GSE, contrary to all the other preceding govrats.
Can you prove otherwise…
Doing something is better than doing nothing. I might not have been pleased by the limit and the snail pace.
There was also the Trump release letter. Hmm.
You seem to provide empty words.
Fnma
I prefer 100% of $325 if you don’t mind. Maybe throw a few bucks to Sherwin on the way out. Gotta feel bad for him. He tries so hard end of day.
It will be awesome if housing or GSE conservatorship question comes up in the first presidential debate.. We can listen from both the horses mouth on what can happen in next term.. My guess is still,. it willbe lipservice from both...and no action. but atleast something
I think it would be more accurate to say that they cannot assess the economic consequences for the housing market and the economy in general if they release the twins. We are talking about more than $8 trillion of FnF MBS - a lot of risk, and a lot that could go wrong. That's why they're postponing it forever ("never change a working system" - even if it's fraudulent).
"They don't know how to end it.."
It is as simple as it has always been . . . just a signature. Both F&F know what to do when the conservatorships end.
BOOM. We have proof of the DOJ's involvement in the "Exit strategy": Blame DeMarco for the NWS dividend and blame Calabria for today's NWS 2.0 with the SPS LP increased for free every quarter.
This way, Sandra Thompson is left with the role of Regulator and she had nothing to do with the Conservatorship.
The recent Senate Hearing was held to the same end: "Oversight of Federal Housing Regulators", with the chairman of the Banking Committee unaware that the status of FnF today is still Conservatorship status.
The DOJ has been using the Wall Street law firm representing the FHFA, to do the dirty job in the Lamberth court: fiction claim (implied contract claim) and fiction damage, with the one-day share price drop on the 3rd amendment-day.
In the Lamberth court, we saw how the parties (FHFA and the attorneys Hamish Hume and David Thompson) requested that Sandra Thompson be dismissed as Defendant, and the two jury trials, have had the slogan: "Blame DeMarco" also peddled by their social media crew 24/7.
This week, the attorney Hamish with a different case, Wazee, and the other party, requested that Sandra Thompson be substituted by Calabria in their official capacity.
The bombshell is that, this time, one of the parties is the DOJ and it signed this brief that ignores the Federal Rules of Civil Procedure: Rule 25 Substitution of Parties (d) Public Officers: once an officer that was sued in his official capacity, resigns or retires, he is substituted for the successor in his official capacity, and not the other way around.
The DOJ ignores that a Separate Account plan has to be unwound, and not to start suing the officials responsible for each of the different phases, just because you are annoyed of this separate account and you have found a way to get around it with crooked judges and, desperately, peddling judicial maneuvers and financial flaws ("SPS, off-balance sheet", etc).
The attorney Hamish Hume ended up relinquishing the scheduled appeal in this Wazee case, once he finally realized that it dynamites the Lamberth case and his fat bonus attached, because it's the same Common Equity Sweep restricted as the prior NWS dividend, and not a Wonderland as the attorney for Berkowitz, David Thompson, peddled in the courts seeking damages: "With the SPS LP increased for free, the UST gets rich and, at the same time, FnF are recapitalized" (Collins case on remand).
A cover-up of the Restriction on Capital Distributions (Dividends and the ongoing SPS LP increased for free) that would also prohibit his fat bonus with the Lamberth rebate (CFR 1229.13).
A MOTIVE for the felony of Making False Statements for the cover-up of a material fact.
We also have OPPORTUNITY: a conservatorship, where the powers are transferred to the conservator and it's authorized to carry out a Separate Account plan (FHFA-C's Incidental Power).
And MEANS: the judiciary proceedings can be extended for years and the judges and attorneys aren't knowledgeable of the technical financial matters (Capital, dividends, Retained Earnings account, Equity or Net Worth, etc.), or the clear intent to play the fool with these matters, as the evidence heard from the self-proclaimed "unsophisticated lawyer. I am a litigator", the attorney for Berkowitz, David Thompson, in a Conference Call hosted by another hedge fund manager, Tim Pagliara.
These 4 tweets melt everything down:
EXIT STRATEGY: BLAME DEMARCO/CALABRIA@TheJusticeDept involved: Unaware of Rule25 "in official capacity".
— Conservatives against Trump (@CarlosVignote) May 26, 2024
But when atty Hamish saw that today's gifted SPS is Common Equity Sweep like the NWS div(RESTRICTED),not "Recap"(Berko's atty,DT),he scrapped the scheduled appeal.#Fanniegate https://t.co/TJhNaH0H32 pic.twitter.com/3L2ZEckbTx
FHFA/@TheJusticeDept:UNAWARE OF ONGOING CONSERVATRSHP
— Conservatives against Trump (@CarlosVignote) May 24, 2024
W/ appeal scheduled for 5/24, the parties asked to switch ST for Calabria, in their official capacity:
-NWS 2.0 began w/ Watt(2017)
-Ongoing NWS 2.0
-Calabria no longer an official.
ST is regulator, not conservator?#Fanniegate https://t.co/barQmamOf2 pic.twitter.com/20mhrMDWzR
"They don't know how to end it.."
It is as simple as it has always been . . . just a signature. Both F&F know what to do when the conservatorships end.
You said "SPS increased for free in Separate Account".
Which is like khtomp19's "SPS, off-balance sheet".
Is that total LP reflected on the balance sheet?
has Wise Man been correct all along and it is in a separate account not reflected on the balance sheet?
In the mean time the GSE share price will be 100 times that it is today once release even if there's a R/S in the common shares but long term this will be priced just like the major banks in time.
Once the warrants are sold off and who knows what will happen with the SPSA but one thing is sure there will be an auction off of the Gov state in common share and there will be a lot big compaines linning up for it !!!! Commons will sore after new offering and R/S !!
Have you a guess on the initial duration of the zero coups invested? 20yr?
Reason I ask is the value of those may now be accruing in line with the net worth figure.
They also know there are so many such questions and complexities if they end it. That's why they are choosing to look at the other side. They don't know how to end it..
Uh oh
You are getting a 4000 worded response with lot of references to 4617e and 4614e and secret accounts. If you are lucky, may be by midnight itseld
Wise Man,
That was a lot of words about the SPS. Next time try reading what you are replying to. My posts have said the LP is not on the balance sheet. Nowhere have I said the SPS are not on the balance sheet because they are. Reading is fundamental. I guess you dont want anyone to agree with your hypothesis. Thats ok. I think you might be right. I dont understand why you post if you dont want anyone to agree with your theory. Strange behaviors.
How this c'ship ends, what happens with current shareholders, what the actual final judicial decisions end up being, what precedents are set by those decisions, and how much ownerhsip in the GSEs is utlimately "given" away or offered to Wall Street and big money players will definitely help determine how much what you talk about comes to fruition and how much progress those established powers have made in achieving their goals.
Conversely, if those powers had complete control and there were not ANY counterforces they could have completely taken control and ended this in their favor long ago. This tells me there are still road blocks to that OWO agenda. We will see with this outcome.
However, a strong indicator of what is to come in this regard - not necessarily concerning the GSEs - is what happens in November. If there is no change in Nov that will not be a good sign.
Housing policy analysts expect discussions about the U.S. debt limit and the end of tax breaks to dominate the fiscal agenda in Washington, D.C., in 2025, obscuring talks about a potential return of Fannie Mae and Freddie Mac to the private sector.
U.s. debt is now at $34 trillion, it's so high that they have confidence about these two giants Godzilla, Fannie Mae and Freddie Mac.
.."This was all planned pre 2008 "
Gses conservatorship was all planned since 2002 .
The purpose is to reinvent America in a new digital world of AI.
WHAT IF...This was all planned pre 2008 for the WEF and OWO ??
When did Blackrock start doing business? 2008.... what timing.....and they now own 80% of the SMP 500.
The plan to own the housing market and turn it into a rental market. ( BY 2030 YOU WILL OWN NOTHING AND BE HAPPY) where have we heard that before?
Banks foreclosed on 100's of 1000's of homes! Banks still own a lot of these homes and are managed by rental companies! WHO OWNS THE BANKS??? The same people/companies that are buying up properties as fast as they can!!
Put the 2 biggest mortgage companies in the world in Gov control ! until private banks and investments companies AKA: Blackrock, Statestreet, Vanguard, Google, Amazon, Bill Gate etc can buy up as many properties as possible.
After a 20 year timeframe (2 years before 2030 agenda) release the 2 biggest mortgage companies in the world and sell off the shares ( warrants) to?? GUESS WHO......... The above companies and turn the GSE into a mortgage caltel just like the banks.
THATS DOUBLE DIPPING !!
The mortgage interest on the mortgages from these homes will be paid by ??? RENTERS !!! Once these properties are paid off or 50% paid off these companies can borrow/ leverage against these properties to buy ALL remaining properties left !! The property market is going to be worth 10 fold in the next 10 years or less !!!!!!
He doesn't understand haircuts ever since he went bald.
Give me 10% and out the door I went
lol
10% of $325
$1500 ain't gonna happen but I think unencumbered, Patswil is pretty close with his figure of $325. Note I said UNENCUMBERED.
FHFA shd just show the finger to Tim Scott and say, nice try. You can change this in 6 months if you want (if you win) but right now we are moving forward with this.. now GTFO is what they shd say
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