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Preferreds are still cheap. I do not intend to buy anymore and may swap a tiny fmckj position for fnma if fmckj:fnma gets to 3:1 ratio.
Prefs super cheap if gse reform gets done in next 2-3 mos.
Not a recco
This sounds about right.
https://twitter.com/weiyenzhao/status/938909261010104320
Probably 8-10
Who knows how this goes. If they push eff-start 2.0 into omnibus, nothing happens till 2019. That would be sad because they need capital to survive. Without it, they can argue they are insolvent.
Not a recco
"This is another pathetic attempt by Hensarling( who is probably lobbying for Dave Stevens job at MBA) and Corker /Warner to eradicate the GSE. Mel Watt and Mnuchin need to put there big boy pants on and deal with GSE reform now! The unfortunate story is the warrants. Either way they will spur more lawsuits. It is unreal to think that our politicians have waited this long to try and deal with a major component of our economy. Corker, Warner and Hensarling are elected officials who are lobbyists. Bought and sold by the banking industry to work against middle class Americans. Taxpayers bailed out the banking sector and the auto industry, and if politicians didn’t politicize the GSE, we would not be in this position "
I like your take on this. It's what I think. If the government does not deal with this correctly then there will be more law suits.
Any resolution will have to address the major law suits. In fact RNC resolution stated that the law suits need to be settled.
Exactly. 2.70 ish gap has filled!
dilution is fine. Just release us. PPS must not be $300, but $30 is good
The warrants are going to be extremely difficult to challenge. I am very doubtful the warrants will ever be tossed.
Not a recco
I would conclude that they paid the dividend. Until something passes both houses and is signed(or admin reform is done in lieu) I will not be celebrating or thinking this is over.
This is another pathetic attempt by Hensarling( who is probably lobbying for Dave Stevens job at MBA) and Corker /Warner to eradicate the GSE. Mel Watt and Mnuchin need to put there big boy pants on and deal with GSE reform now! The unfortunate story is the warrants. Either way they will spur more lawsuits. It is unreal to think that our politicians have waited this long to try and deal with a major component of our economy. Corker, Warner and Hensarling are elected officials who are lobbyists. Bought and sold by the banking industry to work against middle class Americans. Taxpayers bailed out the banking sector and the auto industry, and if politicians didn’t politicize the GSE, we would not be in this position
Funds not for ACA. Watt wants funds for Affordable Housing Payment that was legislated in rhe 2008 HERA.
Shall we conclude anything if the dividends end up being paid end of december/january?
If you're shorting
This bill is cunning. It is better to get killed than be in conservatorship for more years until competition builds. Another cunning corker bill. I wud prefer to rip the bandaid off and kill us rather than another drag
No - this is a bill to delay the administrative option another year and let Congress have another crack at it.
Possibility of receivership/wind down is the only thing keeping preferred where they are. Any recapitalization plan would require retirement of preferred shares especially when that could encourage settling the lawsuits.
I read this as a bill to stop payments to the housing trust fund upon F&F keeping 2-3 Billion each for re-capitalization at the end of the month.
They always fill the gap on this. You can bet on it. That’s what we saw today.
the prefs are totally mispriced, particularly older issues & 50's, and have been, jmho, for long time
but particularly crazy last few weeks b/c of tax selling, hedge funds who closed/closing shops and are foreced sellers, and redemptions at fairholme.
they SHOULD be trading at discount to par for all reasons you so clearly state, but believe "fair value" is where they traded in february before d.c. circuit fiasco
Agree with your assessment. Corker's last ditch effort to stick it to shareholders. Corker and Stevens know about Trump's plan for shareholder friendly policy. Load up folks!
Clay's video today was one of the best I've seen. I actually liked it a lot.
* * $FNMA Video Chart 12-07-17 * *
Link to Video - click here to watch the technical chart video
No Twitter action on GSE reform from MBA today. Very active on Twitter all day and no comment on Corker-Warner. Seems like they're left out which is good news for GSE shareholders (maybe even common shareholders). Something to note.
Tomorrow we be back right where we started!
I hope you made money trading today. :)
Nice observation. I’m going to keep an eye on that.
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Unwind the entire thing
Dilution dilution dilution... that's why common shares are down... capital raise and warrants... maybe $5/share short term and $10-15/share in years... then adjust for probability of wind down vs. recap... trading about where it should be.
Volatile 42¢ swing today.....$2.68 - $3.10.
So much for the "Good News" helping the PPS. Seems to me we're actually getting beaten up over the "Good News." Just another Fannie Mae day.
Wow they really do manipulate this stock. Crazy. Goes to show you just need to determine a position and stick with it.
No kidding. On the release of some of the best news to date (the preservation of FNMA) we drop. I just don’t get it.
I think there is a reason French proposed that legislation.....he knows it is about to happen(2-3b in retained capital) and its all the senate finance committee can do to stop the inevitability.
Once FNMA has reserves and NYE passes we are good to go
Me as a average joe my motem is still like
Beep boop bop beep. Eeeeeeerrrrrrroooooooahhhh ba dong ba dong ba dong psssssssssssh.
I just plain cannot keep up with that philosophy of buy dips and watch it rebound the same day. Monies just not able to keep up with the big boys period. No choice but hold hold hold
SHAREHOLDERS HAVE A MOTIVE TO KILL.
Tax Cuts for spenders would be nice
Maybe next round
This one clearly was pay back the donors time
Senator Fischer. Thank You! TaxCuts Will Help Make America Great Again! Now It's Fannie & Freddie Time & AverageJoe Plan Gets It Done!
https://twitter.com/nsfraudbuster/status/938800062687092736
and for trading I acted accordingly
that said
seems to me
for the day the preferred stock are tired
would be nice to see FNMA get a 10 - 15 cent run from 2.82ish - upwards before close
hard for me to understand why equity is not equity
This pump humped us and not in a good way!
A couple of those 2.77 buys were mine
They can write them.
But they can't pass them.
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