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Only Bloomberg, involved in Fanniegate.
Mike Bloomberg's campaign: Nationalization, CRTs,... Coincidence?
Analysts Expect FNMA To Report At least 0.60 EPS Next Week…
We need to move on with our lives... Sandra, just shoot some fireworks already.
Analysts Expect FNMA To Report At least 0.60 EPS Next Week…
First, Barron is another alias of the rogue plaintiff Mr.Pro Se, among his 30+ different aliases he uses regularly on this board. Just so you know.
We don't need hedge fund managers turned into Shareholders' Rights advocates, and even the attorney Hamish Hume hiring a famous Human Rights activist, Rebecca Musarra (Source. At the same time President Biden was being portrayed on the media as a tyrant. Coincidence?), defending our property rights because they remain intact during a conservatorship.
Among the property rights, the legal ownership is embedded into a stock, and we have always had the right to dispose of our shares, that are kept in our broker accounts under custody.
Other rights that emanate from this ownership, like the Voting Right, right to scour the books, etc., were transferred to the conservator momentarily, so that it helps it fulfill its mandate, otherwise two-third shareholder vote would still be necessary and we would have opposed to every action, for the sake of saying no.
Therefore, our rights weren't "eliminated" as the hedge funds claim in court. They were transferred to the conservator. They are still there and, at some point, they will be returned.
And a point in time is related to the soundness and solvency of FnF "Put FnF in a sound and solvent condition", that is, their capital levels, which is how it's measured. This is why the prior FHEFSSA established MANDATORY release upon declared Undercapitalized: Core Capital > minimum (Leverage) capital requirement. Struck by Calabria's HERA but it's still a useful threshold to ponder.
What has happened is that, before, the minimum Leverage capital requirement was calculated with 0.45% of the off-balance sheet obligations (MBS Trusts. Financial statements consolidated on the balance sheets), and now, it's 2.5%. Notice the difference?
A Basel framework for capital requirement pursuant to the UST's recommendations on ending the conservatorships. A 3-option Privatized Housing Finance System revamp, with the goal to remove their privileges in capital standards as a result of a subsidized guarantee-fee, and the UST backup of FnF attached: Finance their operations as a last resort (upon negative Net Worth), after FnF had tapped the private capital markets before ((2) in the Public Mission: "respond appropriately to the private capital markets". What FnF did during 2006-2008 with issuances of Cs and JPS), otherwise their Public Mission can't be carried out (high credit risk and not properly compensated).
The crooked litigants with their frivolous lawsuits, have had the mission to deprive FnF of the possibility to rebuild their capital. First, agreeing with a 10% dividend during conservatorship and pretending that FnF are mutual funds, so they simply ask for SPS "repaid" and with the SPS overpayment, a $29B cash refund. $0 Core Capital recovered as a result.
They haven't challenged the SPS LP increased for free, so that now, they stage a necessary haircut in the amount of this gifted SPS, and attach it to a haircut on the JPS too, as required by Mnuchin for the JPS of his buddy Berkowitz (holding several series of JPS that nowadays no one knows where they are, and no one cares. All lies.) and Co, according to Calabria in his book.
The last option, they ask for debt forgiveness (Argentina/IMF- style), which is pathetic and it's struck down right away, after agreeing with the government that everything is authorized, forgetting the second leg regarding that it forms part of a Separate Account plan that rehabilitates FnF (the "authorized by this section" in the FHFA-C's Incidental Power), as required by Justice Alito and judge Willett (financial rehabiltation is related to capital levels: SOUNDNESS. Not with a $125B Net Worth built with the $125B SPS LP absent from the balance sheets, but with the $426B common equity generated by FnF and held in escrow in accordance with the law).
Finally, the courts have no say on the conservatorship of FnF, so going to court is pointless. Besides, it can be considered unlawful for the fact that to become Director of the FHFA and thus, conservator nowadays, it's required by law to have a deep understanding of mortgage finance and financial matters, which isn't the case in a judge, let alone the jurors.
(f)Limitation on court action
Except as provided in this section or at the request of the Director, no court may take any action to restrain or affect the exercise of powers or functions of the Agency as a conservator.
"Bad faith and unfair dealing when the Regulator......"
It's a Conservator to begin with. Wake up, bro.
You still don't understand that the CONSERVATOR's Incidental Power allows it to pay down the SPS and recapitalize FnF in a Separate Account and lie about it (your "bad faith and unfair dealing"). This is why the Separate Account plan is both authorized and lawful, and we can't claim the payment of Punitive Damages for it (although it has needed 7 Securites Law violations that aren't authorized, obviously, that need to be settled. One of them is stock price manipulation, precisely, for this Separate Acct plan), because it's:
any action authorized by this section, in the best interests of FnF or the Agency
It represents the amount of future Net Income that will need to be realized before remittances to the Treasury resume.
Oh wow. Hope you had a nice rest today as you slept right through the closing bell ding ding ding Dr. TightCoil. We closed one penny lower than the HOD. That would be the high of day although some call it the high on drugs LOL. Nevertheless I digress. That’s besides the point. No doubt tomorrow we will breakthrough through $1.50 cause we need to raise the ASK. We are headed to $2 I reckon.
If you are not going to file your own lawsuit, your negative thoughts against people who have fought in court to defend your property rights should be kept to yourself because they are not helpful
Tomorrow?
FNMA up 5-8 cents minimum
FMCC up 5-8 cents minimum
Take it to the Bankola
Correct I have been saying the same thing for years. Corrupt attorneys. If you heard Hume on the Rood podcast he openly admitted dropping the appeal on national security grounds and not challenging the original takeover apparently his patriotism is stronger than his duty to his clients. There is a reason why most these cases were consolidated and in almost every filing they said they were competent attorneys so to avoid anyone else from interfering.
Also just because a billionaire is funding the lawsuit doesn't make him smart. In all likelihood they are probably conflicted financially and the gubmint has dirt on them so they put in a little effort but don't go all the way and drop appeals. Sort of like a catch and kill scheme.
Name any lawyer who brought before any court in connection with Fannie and Freddie
HOUSING AND ECONOMIC RECOVERY ACT OF 2008 RESTRICTION ON CAPITAL DISTRIBUTIONS.
As plain as day!
It’s bad faith and unfair dealing when the Regulator is authorized to pay down the Senior Preferred Stock and sent the Net Worth without the pay down option. The FHFA Director doesn’t need the Treasury approval to pay down the Senior Preferred Stock the Director has the authority from Congress written in HERA:
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
RESTRICTION ON CAPITAL DISTRIBUTIONS.— page 2731
‘‘(1) IN GENERAL.—A regulated entity shall make no capital distribution if, after making the distribution, the regulated entity would be undercapitalized. The exception.
Quote: “Page 2732
EXCEPTION.—Notwithstanding paragraph (1), the Director may permit a regulated entity, to the extent appropriate or applicable, to repurchase, redeem, retire, or otherwise acquire shares or ownership interests if the repurchase, redemption, retirement, or other acquisition— ‘‘(A) is made in connection with the issuance of additional shares or obligations of the regulated entity in at least an equivalent amount; and ‘‘(B) will reduce the financial obligations of the regulated entity or otherwise improve the financial condition of the entity.’’.
NOTE: REPURCHASE, REDEEM, RETIRE...
WILL REDUCE THE FINANCIAL OBLIGATIONS OF THE REGULATED ENTITY.
Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf
In essence allows the trustees of Fannie and Freddie to go to the market at any time to raise new capital, including new capital with lower dividend coupons, to buy back the Treasury’s senior preferred. Any loyal conservator of Fannie and Freddie would take advantage of this refinancing option to end the bailout arrangement, by paying off the senior preferred in full. The Treasury did not take a Perpetual Equity Investment in the enterprises, the Treasury stated a temporary investment period!
Advise to not hold your breath. Even if Lamberth flushes the jury verdict down the toilet, it's not happening.
This is my understanding of what took place at the SCOTUS. The Plaintiffs brought the wrong lawsuit. The federal statutes ( THE LAW ) was not mentioned at all before the SCOTUS.
The Federal statutes are the Charter Act, the Safety and Soundness Act of 1992, as amended by HERA, and Administrative Procedures Act, and potentially the Chief Financial Officers Act. None of the litigation made any claims of violation of these acts.
All the lawsuits challenged the actions of the Conservator within the terms of the SPSPA... AND The Supreme Court basically said we will not rule or give Judgment are act as an arbitrator on the contract the SPSPA. So, the NWS was not validated as legal or illegal by the Court: The Court dismissed the lawsuit.
Well, looks like big money people who hired and paid the lawyers were that stupid THE LAW was not mentioned. Not only at the SCOTUS but I’m thinking every lawsuit that has been brought. Can anyone name one that actually referenced the Federal Statutes governing the GSE’s ??
I was sleeping through the close, sorry, but looks like
we stayed green for both Fannie and Freddie...
Berkowitz has run for the hills..if that is any sort of indication lol
KTCarney and associates have been stupidly trying to laser focus their efforts and failed just when it mattered most in Supreme court. Still remember that Bozo telling SCOTUS, after they asked him exactly what did he want. He said 2 laser focused things, that even i would have been surprised or offended to hear someone say when u came so far. Hey can i have a pack of gum and a tube of lubricant here, ill take one for the team as long as Preferred's get cash and commons get screwed. All their effort were laser focused losing requests.
Still awaiting Barron & Co lawsuit.
again
for those who want facts
Bush started it all and we all know that --- we can remember the day
And DJT was there as POTUS for four years between Obama and Biden
so the factual sentence - if we want to use the word swindle is Bush Obama Trump Biden administrations swindled $301B .....
So
in your view it is not corrupt courts as many posit
it is not the way HERA was written
but inept and or corrupt lawyers who "threw" the argument - by filing the wrong claims and then not lawyering well after that?
Personally - hard for me to believe the big money people who hired and paid the lawyers were that stupid??
Why? Trump defanged Dodd-Frank back in 2018. Does it really still do anything?
"2028 the latest … that is, if the entire system isn’t totally corrupt"
That's a mighty small nail on which to hang our hat!
"Obama-Biden administration swindled $301 billion of Fannie Mae and Freddie Mac equity and stole from the pension funds of police officers, fire fighters and government employees. Clawing back that money would restore the retirement accounts for millions of Americans."
Nicely stated Guido. Too bad there is nothing in the heads of most Americans to understand what has taken place.. It goes in one ear and out the other because there is nothing between those ears to even know what the corrupt U.S. government has done to its citizens. Stupidity rules the day!
Do they currently need Sandra's permission to use the bathroom?
The reason you do not understand is because you fail to understand. The answer to why the Supremes and every other court for that matter ruled the way they did has been answered in my posts for a couple years now. You have eyes. Go read them. The plaintiff attorneys have corruptly conspired to obfuscate the issues for decades and run the clock out by refusing to allege any law breaking by the government, choosing instead to play nicely in the HERA powers of Conservator sandbox. Hello. HERA says you cant challenge the actions of the conservator. Its called the presumption of correctness. The same way you can never actually win a property tax claim, unless the tax assessor does something wrong. Plaintiff attorneys had some 15 years to bring claims of illegal activity wrt charter act safety and soundness laws etc. they corruptly chose not to. Now here we are. Better hope carlos is right.
Can we breakthrough $1.47 today ? Dr. TightCoil ?
worried about his stock? why doesn’t he worry with what is going on with fannie and freddie for last 16 years? hypocrites.
https://www.cnbc.com/2024/04/24/djt-trump-media-ceo-asks-house-gop-to-launch-stock-manipulation-probe.html
CEOs will have full power. They will also have the lock code for the bathrooms and a private parking spot. Doing the company employees on the boardroom table might be frowned upon although I am okay with it. Just cleanup after.
All power goes back to Companies BOD and CEO yes also included common voting rights and powers
1.50 today? low volume, so probably not but maybe the MM's will be distracted at lunch today. LOL
Queen Sandra might be headed for some trouble
Dodd-Frank Today
Senate Banking Committee questions FHFA, HUD leaders on regulatory oversight
Asserting the need for more oversight of federal housing regulators, the Senate Banking, Housing and Urban Affairs Committee convened a hearing to address pressing issues in the housing sector and assess the performance of its principal regulatory bodies. The hearing featured testimony from Federal Housing Finance Agency Director Sandra Thompson and Department of Housing and Urban Development Acting Secretary Adrianne Todman
My framework for understanding stock prices is that they move on two things and two things alone: accrual and speculation. This statement of hers was to Congress so we have to assume it's true. Hopefully what the market is now articulating is that it's no longer in speculative territory and we've started to conservatively accrue for 2024 - notwithstanding whatever comes out of the courts.
does anyone know after conservatorship if the CEO's will have power again
to challenge things like
-why are the GSE's funding the FHFA?
-we do not agree with CRT's
-we need our own board via a vote
-etc
any other things the CEO's should question to ask for change
TIA
Yeah I’m good with that too
She would become the regulator in a utility model. I’m pretty confident that is where we are eventually headed. Not a big deal. A regulator has very little power or say. A regulator monitors for price gauging.
Fred B, when did ST say this and where do you have a link ? TIA
It would be helpful if she has a timeline for results on the tasks desired to be completed based on goals needed to be met.
Seems to be a predictable or predetermined option that was well thought out premeditated idea - when will it come in to play is any body’s guess
I hated the first ruling but bluntly - I saw the logic - even if I disagreed - given HERA said in plain language English COURTS STAY AWAY
I do not understand - at all - how SCOTUS was so blind and stupid or ? in how they ruled that all - all - was 100% kosher
nonsense and shame on them
By then it was clear ---- for sure IMO - that the property we owned had been taken illegally - and SCOTUS said - nope - all good
2028 the latest … that is, if the entire system isn’t totally corrupt
$Fannie $Mae Announces $Release of 1st Qtr 2024 Financial $Results
$Tuesday morning, April 30, 2024, before the opening of U.S. financial markets.
April 23, 2024
Company to Host Conference Call
WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced plans to report its first quarter 2024 financial results on Tuesday morning, April 30, 2024, before the opening of U.S. financial markets.
Fannie Mae has scheduled a conference call to discuss the company’s results at 8:00 a.m., ET, on April 30, 2024.
Prior to the call, the company’s first quarter 2024 earnings news release, quarterly report on Form 10-Q, and other supplemental information will be available on the company’s Quarterly and Annual Results webpage at fanniemae.com/financialresults. Following the call, a transcript will be published to the same webpage and will remain available until our next quarterly earnings announcement.
CONFERENCE CALL PARTICIPATION DETAILS – Fannie Mae First Quarter 2024 Financial Results
Event day and time
Tuesday, April 30, 2024
8:00 AM (ET)
Listen-only webcast:
https://event.webcasts.com/starthere.jsp?ei=1665149&tp_key=3a283801d1
Click on the link above to attend the presentation from your laptop, tablet, or mobile device. Audio will stream through your selected device. If you have difficulty accessing the webcast, please click the "Listen by Phone" button on the webcast player and dial the number provided.
Slap that Ask Gentleman Haramashii Candles formation evident, no resistance until $2.32 !
IMHO...His first ruling was tantamount to a government bailout. This current verdict is meaningless in his hands. Company man.
Oversight committee after cjip exit?
We’ll get a huge pop either way
No one is selling the government will never get 8 0 win over turned 🛹🌵🇺🇸
What she said is translated as: I"m gonna milk this thing as much as possible
After = 10 years from now.
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