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The commons will be worth whatever Treasury allows them to be worth.
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?
The SPS aren't part of regulatory capital, per FnF SEC filings. Converting the SPS to Commons adds the conversion $ amount to CET1 capital.
This has to do with the ERCF, not balance sheet. You don't get the same benefit by making the SPS "disappear", which is never going to happen.
Can someone explain to me, why we are on the hook for and why are we concern with Liquidation Preference.
Am I wrong to interpret LP that way?
wonder if he has been unleashed from fhfa to mislead everyone. they probably have someone to do damage control
You say the SPS are equity. Are you sure?
If anything the SPS are more like obligations
Afterall, if the Companies are obligated to pay back the LP that has been accumulating since day one, how can you consider them to be equity?
Isnt equity the residual ownership after all debts are paid off?
The SPS LP is a debt that is owed to Treasury.
So what equity do the SPS have in GSEs of a negative net worth of a couple hundred billion?
1. At what point do short traders have to put aside money to pay their share of the Lamberth ruling? FNMA already put it on their annual report, but I wonder if/when others have to do it and how much it would be.
2. What happens if the government is found to have actually nationalized FnF? Wouldn't the $8 trillion FnF debt have to show up on the federal debt and cause the US gov credit rating to go down and interest rates to go up? Are fed bondholders also getting a raw deal by having this debt kept off the fed books?
It will help about as much as all his past ones have.
It should be obvious by now that the judicial path to getting the conservatorships resolved is basically closed off now. All non-monetary relief claims have been dismissed, as have all monetary relief claims seeking payment by the government. The only claim to succeed involves the companies paying money to the shareholders.
The January 2021 letter agreement acknowledged that release from conservatorship can't happen while there is significant litigation outstanding. That means Bryndon Fisher is actually hurting the recap/release cause by continuing to fight. But once his en banc appeal is denied and SCOTUS puts one final nail in the coffin, his case will finally be dead and we can move on.
It has ZERO EQUITY in the corporations.
I have held common shares since before conservatorship.
If you are with KT and Bradford trying to give 95% of the corporations to the government, we're not on the same boat.
I own common stock in a company that has paid me dividends exceeding my original investment. They aren't 'paid off' and I won't be writing them off either.
These types of emotional answers are common when folks hold a security that's out of the money.
So if this plan happens as many here are speculating, the commons will most likely be worth less than a dollar?
What am I missing?
Can they get back onto a real stock exchange with sub dollar common equity?
you assume - expect a SR to common equity conversion ---- and JPS to be worth 50% or more of PAR - and indeed common worth MAYBE MAYBE 8
Can a judge or court ruling really make it go away because of a prior ruling of 800 million awarded to shareholders?
FHFA-C under common law (implied covenants) has a duty to act in good faith and fair dealings in upholding the terms of the share certificates.
Last I saw of you on twitter you were pitching it short "spicy trade" to a crypto hedge fund.
You are a liar.
Based on your thoughts about the possible scenario of converting the seniors to commons and JPS into commons, am I understanding this right?
I'll calculate JPS shares at 50% and 100% par with a low conversion to common at .25 cents per share and $2.00 per share based on your speculation.
If Trump cinches the election in November, the euphoria could very well send the JPS close to 50% of PAR... since historically it has reached that high multiple times in the past.
I don't know about you but if your predictions is anywhere from 50-100% of PAR... I'm liquidating at least half of my position if it goes near 50% of par.
A double from 50% of PAR can be done with much less risk in another stock...
Gabby and I are getting hitched. That’s about all the big news we have around here in these neck of the woods I reckon. Later on tonight get some chow.
Is there news or an important court date coming up? Both commons and JPS are doing really well. JPS variable rate 50 bids are at $6. 🤩
Hang On - Hold for the Gold
Load up and Raise the Ask
https://groups.google.com/g/fannie-and-freddie-preferreds/c/MqM3OJklPts
Commons up, Choo Choo moving, some Ps up...🖕🤡🖕...the creek. lets rock commons 2,3,4,5 to a theatre near you. 🚀🚀🚀🚀...
Mongo
Red;;---all sales-look for yourself
https://ih.advfn.com/stock-market/USOTC/federal-home-loan-mortgage-qb-FREGP/trades
WHAT Rick?? GREEN,, Green whale Balls? I Hope Not!!
And the Washington Corruption continues! Who got the fine money for all those Toxic loans forced down their throats like other things to the children on Epstein Island ?
What do you think? To be least disrupted to the market, does a three-day weekend (market-wise) offer the best time (if any) to end a c-ship and return these companies to the main board?
DATE
Is this DENIAL after the re drafting we just saw ?
Bluntly - an not picking on you --- I do not agree that judges are in the tank
They may be conservative or liberal or who knows what but I think - here - they judge by their read of the crazy HERA law and the true lack of precedent on our situation (such a huge GOV theft of property)
more like...
Not-So-Wise-Man💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮🤮
Thank you Mr Bryndon Fisher
“The Court should reverse the dismissal of Appellants’ takings claims and remand these consolidated cases for trial.”
If this goes to trial the FHFA will lose just like the 8-0 verdict.
Do you mind, Bradford? We're having a moment here.
And we even have "shuffling madness" (from the song you mentioned) all over the place.
We are witnessing a concerted attempt to conceal the ongoing Common Equity Sweep.
From Timothy Howard concealing that FnF post $0 EPS, to the attorney Hamish Hume that has just opted out of filing the scheduled appeal on May 24th in the Wazee case that, for the first time, had challenged the ongoing NWS 2.0 in a recent 3rd amended complaint: SPS LP increase in the same amount as the Net Worth increase in the quarter, which translates into the Common Equity being substituted for SPS in the Equity or Net Worth of the Balance Sheet, currently concealed when these gifted SPS and its corresponding offset with reduction of Retained Earnings account (CET1) are missing on the Balance Sheet (Financial Statement fraud).
A Common Equity Sweep, equal to the prior Common Equity Sweep with the dividend payments (NWS dividend). This is why now, it's NWS 2.0: this time, the Net Worth grows but with the SPS (an obligation with respect of capital stock: an obligation is a compromise of repayment, that is, a debenture).
In other words, the underlying security in a Preferred Stock is an obligation, a fixed income security, just like a bond.
A made-up hybrid financial instrument.
As stated by the very Treasury Department and the FHFA in the SPSPA:
All the Preferred Stocks are permanent securities, but redeemable at the option of the issuer by definition.
So, Mnuchin's attempt to thwart it with "Optional Paydown of Liquidation Preference upon Termination of the Commitment", written in the January 14th, 2021 PA amendment, if I'm not mistaken, is wrong and futile: the SPS LP corresponding to the draws from UST were long gone: U.S. Code 4614(e) (December of 2013 and 2014)
The only way to "rehabilitate FnF" required by Justice Alito, when he interpreted the FHFA-C's Incidental Power that must uphold the Power (as stated by judge Willett in his half-baked ruling that preceded the SCOTUS's opinion) and he read "restore FnF to a sound and solvent condition", is building up Common Equity, for the CET1 and the Core Capital.
Tier 1 Capital = CET1 + Additional T1 (JPS)
Total Capital = Core Capital + Tier 2 Capital (ALLL account)
You can't rehabilitate FnF increasing the SPS. That's not "authorized by this section", unless it's part of a Separate Account plan, which is what Justice Alito authorized "...in a way beneficial to (in the best interests of) FHFA.". No "monetary benefit" allowed. Nice try though.
But regulatory capital.
All the items included in "regulatory capital" is for a reason: loss-absorbing capacity. Thus, the SPS isn't included due to its cumulative dividend feature.
It's a fact that the Treasury Department relinquished its dividend, primarily because it was aware that there is a special rate in the Charter Act in exchange for their Public Mission, that will be addressed in due time (estimated at a weighted-average 1.8% dividend rate with a 0.5% spread over Treasuries), either because it went through despite being restricted and unavailable for distribution (assessments applied towards the exceptions), and because it formally eliminated it to all effects with the 5th PA amendment, in favor of SPS LP increased for free, when it was called out by judge Willett and attempting to mislead us with "a game changer" (Justice Alito and the DOJ's Perdogar bought it). These gifted SPS are another capital distribution restricted. Oops!
The financial concepts have a definition for a reason. They want to change the definitions and problem solved!
What is it that you want? DENIED!
WHOA! Bryndon Fisher is in deep trouble.
PLAINTIFF FISHER FILES ANOTHER PETITION FOR HEARING EN BANC 1 MONTH AFTER BEING DENIED
— Conservatives against Trump (@CarlosVignote) May 24, 2024
5th Cir.
Even after interlocutory appeal along with the lead plaintiff Berkowitz(One co-Plaintiff appealed to SCOTUS his take)
He wants to turn a Conservatorship into Taking: DENIED!#Fanniegate pic.twitter.com/cYqywNKEKx
Bryndon Fisher
MAY 22, 2024 AT 7:43 PM
If you or your readers are interested, here’s our brief for the three-judge panel at the Federal Circuit. We’re requesting they recommend en banc review of our derivative takings cases
Bryndon... if you are still out there lurking ... thank you! and good luck! I am with you and your team!
From the Tim Howard blog:
74 thoughts on “The CRT Charade”
Bryndon Fisher
MAY 22, 2024 AT 7:43 PM
If you or your readers are interested, here’s our brief for the three-judge panel at the Federal Circuit. We’re requesting they recommend en banc review of our derivative takings cases.
https://drive.google.com/file/d/1SNTJG-C_KQgYCnqdZp9XZg4QCa54iHeS/view?usp=sharing
jtimothyhoward
MAY 23, 2024 AT 9:39 AM
Bryndon–Thank you. I found the arguments in this brief for an en banc review of your derivative case to be persuasive, and hope the Federal Circuit judges do as well.
Love the sentiment but this is 2 years old now - Housing Finance Reform and Regulation of GSEs(Apr 28, 2022)
https://www.icba.org/our-positions-a-z/current-policies/housing-finance-reform-and-regulation-of-gses
Rick - This is the second time that Patrick's post isn't supported by his attached link. The other one about Moelis update hasn't yet materialized.
Independt small medium even somewhat large but not TBTF large banks love us
Credit Unions love us
but the BIG BOYS appear to have far more say
Do you have the much "cash - investment" that you can weather inflation with the 4.6% or fixed interest cash flow or whatever that GOV long term paper offers?
(Consider some stock market index funds with some - 25% -(or more) - of the nest egg. You can draw 4% plus inflation with a 95% probability the pile will grow v shrink - over say 20 years Does not matter what the market did - you stay to the plan (The stock markets have been great - but long term averages can take 20 years to average to CGR of 8+% we are used to but 4% plus inflation has a 95% survival AND growth history for 100 years
or buy 2 5 7 9 10 12 15 17 190 year bonds or some sort of staggered maturities. That way at maturities you have different - sometimes very high - some times lower but average interest rates (search bond ladder and advantages of real bonds in a ladder)
NOT ADVICE - just a thought and suggestion that there is nothing conservative about living a nice long happy retirement an finding one does have the money needed in 2039 after say 3% inflation on average
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