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FNMA And FMCC To Tap Into $3 Trillions Of New Market , NEW Revenue Stream!!! $$$$$$$$$$$
https://finance.yahoo.com/news/3-trillion-could-injected-u-192408915.html
In other words, it's ready to exit conservatorship soon.
NeoSunTzu you ask for facts? Here’s you some facts. And may I ask what you have personally done in attempt to help our cause? Best Regards
Published October 9, 2023
FINANCIAL SERVICES
Committee
Committee Members
118th CONGRESS
The purpose of this letter is to bring attention to the Committee violations by the Federal Housing Finance Agency (FHFA) violating of the Charter Act, and the Federal Housing Enterprises Financial Safety and Soundness act of 1992 (FHEFSSA); Both as amended by the HOUSING AND ECONOMIC RECOVERY ACT OF 2008, (HERA). The Charter Acts are Fannie Mae and Freddie Mac's enabling statutes. FHEFSSA and HERA are regulatory statutes, governing the companies' regulators. All are laws passed by Congress.
The conservatorship of Fannie Mae and Freddie Mac has continued for over 15 years. I am not sure if Committee Members understand the history of the takeover of the companies and pray the Committee will of your clemency hear me in a few words.
Before the take down of the companies Treasury Secretary Paulson was unaware that the FHFA Regulator had sent both Fannie Mae and Freddie Mac letters saying the companies were safe and sound and exceeded their regulatory capital requirements. Paulson told FHFA Director Lockhart that he had to change his agency’s posture on the two companies, and FHFA did exactly that. FHFA sent each company an extremely harsh mid-year review letter, and two days later, Paulson, Lockhart and Fed chairman Bernanke met with the companies’ CEO's and directors to tell them they had no choice but to agree to conservatorship.
When Paulson met with the directors of Fannie Mae and Freddie Mac to inform them of his intent to take over their companies, neither entity met any of the twelve conditions for conservatorship spelled out in the newly passed HERA legislation. Paulson since has admitted he took the companies over by threat.
HOUSING AND ECONOMIC RECOVERY ACT OF 2008 Page 2734 Twelve Conditions
APPOINTMENT OF THE AGENCY AS CONSERVATOR OR RECEIVER
Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf
The FHFA freely admitted the companies were adequately capitalized.
SECOND QUARTER CAPITAL RESULTS
Minimum Capital
Fannie Mae’s FHFA-directed capital requirement on June 30, 2008 was $37.5 billion and its statutory minimum capital requirement was $32.6 billion. Fannie Mae’s core capital of $47.0 billion exceeded the FHFA-directed capital requirement by $9.4 billion.
Freddie Mac’s FHFA-directed capital requirement on June 30, 2008 was $34.5 billion and its statutory minimum capital requirement was $28.7 billion. Freddie Mac’s core capital of $37.1 billion exceeded the FHFA-directed minimum capital requirement by $2.7 billion.
Link: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Suspension-of-Capital-Classifications-During-Conservatorship-and-Discloses-Minimum-and-RiskBased-Cap.aspx#:~:text=During%20the%20conservatorship%2C%20FHFA%20will%20not%20issue%20a,submit%20capital%20reports%20to%20FHFA%20during%20the%20conservatorship.
The FHFA forced Fannie Mae and Freddie Mac into a contract with the United States Treasury by Senior Preferred Stock. The Senior Preferred Stock Purchase Agreement is not a law: The SPSPA is an illegal contract between Treasury and FHFA as conservator of the two companies. The Charter Act, FHEFSSA and HERA passed by Congress is the supreme law of the land that governs the two companies.
Fannie Mae and Freddie Mac's regulatory guidelines would have prohibited the companies form paying dividends to the Treasury while severely under-capitalized, but the FHFA suspended those guidelines because the regulator wanted the companies to have to draw more senior preferred stock from the Treasury to pay the annual dividends in cash, ballooning their outstanding senior preferred stock and increase their required annual dividends. FHFA and its Director are executive branch entities and can not make changes to federal laws. Only Congress can change the law. Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee.
When Fannie Mae and Freddie Mac were taken over by the FHFA no emergency existed and the FHFA had no authority granted by Congress to take over the companies, no authority written in the Charter Act that gave the FHFA right to take down the companies.
Charter Act: SUBSECTION (g) TEMPORARY AUTHORITY OF TREASURY TO PURCHASE OBLIGATIONS AND SECURITIES; CONDITIONS.— EMERGENCY DETERMINATION REQUIRED. Page 16
Under this subsection no emergency existed.
This leads to the question, who authorized the appropriation of taxpayer debt to provide the 200 billion commitment? Certainly not Congress. Treasury took it upon themselves and authorized a 200 billion commitment available in exchange for One Million Shares (1,000,000) with an initial liquidation preference of $1,000 per share. Shares of senior equity illegal and unconstitutional.
Page 5
Link: https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-SPSPA_09-07-2008.pdf
Charter act prohibits the commitment fees (Seniors, warrants, variable liquidation preference). More importantly the actions of Treasury to appropriate 200 billion in taxpayer debt, take non regulatory control of the companies through the SPSPA (require Treasury permission at least 10 separate times) and ownership of more than 50% of the companies requires them under the GAO act and the CFO act to consolidate the GSEs onto the nations balance sheet. The fact that that hasn't happened means the Treasury has violated the 14th amendment to the Constitution by repudiating the 5 trillion plus in debt the Treasury has acquired through their actions since 2008. Their actions have resulted in a takings of the entire enterprise value of the formerly private companies. These actions have necessarily turned the GSEs back into agencies of the executive branch as they were originally created. This is the definition of a major question and also a separation of powers problem since Congress did not authorize the actions Treasury took and continues to take.
In addition 'Deferred Tax Assets' the Treasury forced the companies to write down and record these non-cash expenses making the companies appear bankrupted. Fannie Mae and Freddie Mac were no where near bankrupted.
Mr. Howard wrote below,
Quote: “Between the time Fannie and Freddie were put into conservatorship and the end of 2011, well over $300 billion in non-cash accounting expenses were recorded on their income statements. These non-cash expenses, most of which were discretionary, eliminated all of the Companies’ capital and forced them, together, to take $187 billion from Treasury. But because accelerated or exaggerated expenses cause losses that are only temporary, Fannie’s and Freddie’s non-cash losses began to reverse themselves in 2012. Coupled with profits resulting from a rebounding housing market, the reversal of these losses enabled both Companies to report in August 2012 sufficient second quarter income to not only pay their dividends to Treasury but also retain a total of $3.9 billion in capital. As soon as it became apparent that a large percentage of the non-cash accounting losses booked during the previous four years was about to come back into income, Treasury and FHFA entered into the Third Amendment to the PSPA. The Third Amendment substituted for the fixed dividend payment a requirement that all future earnings—including reversals of accounting-related expenses incurred earlier—be remitted to Treasury. From the time the Third Amendment took effect through the end of 2014, Fannie and Freddie paid Treasury $170 billion, $133 billion more than they would have owed absent the Amendment.” End of Quote
The United States was not obligated after 1968 to back debt of Fannie Mae. The United States Taxpayers became obligated when the government took over the two companies.
Originally, Fannie Mae had an explicit guarantee from the United States government; if the entity got into financial trouble the government promised to bail it out. This changed in 1968. Fannie Mae became a private stockholder owned company. Fannie Mae securities received no actual explicit or implicit government guarantee. This is clearly stated in the securities themselves, and in many public communications issued by Fannie Mae.
Quote: “Although we are a corporation chartered by the U.S. Congress, the U.S. Government does not guarantee, directly or indirectly, our securities or other obligations. We are a stockholder-owned corporation, and our business is self-sustaining and funded exclusively with private capital. Our common stock is listed on the New York Stock Exchange and traded under the symbol “FNM.” Our debt securities are actively traded in the over-the-counter market.” End of Quote.
Information from: Fannie Mae form 10K Dec 31, 2007
part I, page 1, item 1.
https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/ir/pdf/quarterly-annual-results/2007/form10k_022708.pdf
Where is "maximize profits for taxpayers" written in the Charter Act? Specifically, in this provision entitled Fee Limitation of the United States:
Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise. The United States prohibition on assessment or collection of fee or charge to Fannie Mae, (section 304 Fee Limitation). Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309).
SEC. 304. SECONDARY MARKET OPERATION
Fee Limitation
Quote: “(f) PROHIBITION ON ASSESSMENT OR COLLECTION OF FEE OR CHARGE BY UNITED STATES.—Except for fees paid pursuant to section 309(g) of this Act and assessments pursuant to section 1316 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, no fee or charge may be assessed or collected by the United States (including any executive department, agency, or independent establishment of the United States) on or with regard to the purchase, acquisition, sale, pledge, issuance, guarantee, or redemption of any mortgage, asset, obligation, trust certificate of beneficial interest, or other security by the corporation. No provision of this subsection shall affect the purchase of any obligation by the Secretary of the Treasury pursuant to subsection (c) of this section.” End of Quote. Page 16
Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309).
SEC. 309. GENERAL POWERS OF GOVERNMENT NATIONAL MORTGAGE ASSOCIATION AND FEDERAL NATIONAL MORTGAGE ASSOCIATION
Federal Reserve Banks to Act as Fiscal Agents (Fannie Mae and GNMA)
Quote: “(g) DEPOSITARIES, CUSTODIANS, AND FISCAL AGENTS.—The Federal Reserve banks are authorized and directed to act as depositaries, custodians, and fiscal agents for each of the bodies corporate named in section 302(a)(2), for its own account or as fiduciary, and such banks shall be reimbursed for such services in such manner as may be agreed upon; and each of such bodies corporate may itself act in such capacities, for its own account or as fiduciary, and for the account of others.” End of Quote. Page 29
Link:
FEDERAL NATIONAL MORTGAGE ASSOCIATION CHARTER ACT
As amended through July 25, 2019
link: https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/aboutus/pdf/fm-amended-charter.pdf
The Senior Preferred Stock, with a variable liquidation preference outlined in the SPSPA and its amendments and share certificates is a new product for the purposes of the Safety and Soundness Act of 1992 as amended by HERA.
Congress directed the Director of FHFA to apply the Administrative Procedures Act to the new products sold to Treasury. The FHFA did not follow the administrative procedures congress required in the plain language of the safety and soundness act.
The Director of FHFA as regulator violated the safety and soundness act and the administrative procedures act by not following the statutory duty to approve new products issued by the GSEs to Treasury for the purpose of stabilizing the secondary mortgage market.
The law required the publication in the federal register of the SPS with their variable rate liquidation preference tied to the commitment. It requires a public comment period, and a rule making process to make the SPS legal. It is the same law that required the capital rule. And the same law that required FHFA a year ago issue the new products law for MBS products. They have ignored this requirement for 15 years.
Director Lockhart Regulator, and Director Lockhart Conservator. Holding both positions as Regulator and Conservator; Conservator Lockhart is required by law to file notice to himself as Regulator.
The Safety and Soundness Act required Director Lockhart as regulator not conservator to approve a new product issued by Director Lockhart acting as conservator FHFA-C (SPS with variable liquidation Preference) to Treasury under the terms of the SPSPA for the purpose of carrying out the secondary mortgage market. He was required as regulator to file notice in the federal register, seek public comment and issue federal regulations for the new product we call the Senior Preferred shares sold to Treasury.
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
Page 2689
SEC. 1321. PRIOR APPROVAL AUTHORITY FOR PRODUCTS.
Link: https://www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf
The CFO act requires the Treasury department based on published accounting standards to determine if their actions of funding through appropriations, ownership of 100% of the GSEs net worth and non-regulatory control of the GSEs through the SPSPA require the consolidation of the GSEs liabilities onto the nations balance sheet. Do the actions of Treasury under the SPSPA require such consolidation under the plain language of the Chief Financial Officers Act?
The Congressional Budget Office publication states, “Federal Government effective ownership of Fannie Mae and Freddie Mac.”
The Enterprises have been Nationalized by the Government according to the CBO: The liabilities have not been added to the National Debt nor have the Shareholders been compensated by U.S. Law of the 5th Amendment.
Congressional Budget Office
From: Estimates of the Cost of Federal Credit Programs in 2023
Page 1, Foot Note 1.
Quote: “Fannie Mae and Freddie Mac have been in federal conservatorship since September 2008. CBO treats the two GSEs as government entities in its budget estimates because, under the terms of the conservatorships, the federal government retains operational control and effective ownership of Fannie Mae and Freddie Mac. For more discussion, see Congressional Budget Office, Effects of Recapitalizing Fannie Mae and Freddie Mac Through Administrative Actions (August 2020), www.cbo.gov/publication/56496; and Congressional Budget Office, The Effects of Increasing Fannie Mae’s and Freddie Mac’s Capital (October 2016), www.cbo.gov/ publication/52089” End of Quote
Link: https://www.cbo.gov/system/files/2022-06/58031-Federal-Credit-Programs.pdf
The United States Treasury in violation of the Charter Act has failed to treat as public debt the transactions of the United States when the FHFA placed Fannie Mae and Freddie Mac into conservatorship. This obligation was never recorded as public debt as required by law.
The Charter Act the Law of the Land.
Charter Act SEC. 304. SECONDARY MARKET OPERATIONS
(c) Terms and Rates
Quote: “All redemptions, purchases, and sales by the Secretary of the Treasury of such obligations under this subsection SHALL BE TREATED AS PUBLIC DEBT TRANSACTIONS of the United States.” End of Quote Page 14
Link: https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/aboutus/pdf/fm-amended-charter.pdf
IF THE FHFA / TREASURY are allowed to continue with the violations discussed in the above writing, and the illegal contract of the SPSPA agreement is allowed to stand the Committee should give consideration to the FHFA Breach of Contract Bad faith and Unfair Dealings actions of the government in litigation that took place in Judge Lamberth's Court. It took 8 random DC Jurors only 10 hours of deliberations to see right through the Government's false narratives.
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!
The calculation of the pay down of the liquidation preference of the Senior Preferred Stock, I am asking this committee to apply the law written in the HERA legislation passed by Congress.
https://drive.google.com/file/d/15978NWfDcTtuClMBnwgWFmoPnwK94vWn/view
The liquidation preference has be paid and the Senior Preferred Stock should be canceled.
The law actually exists! FHFA and its Director are executive branch entities. They can not make changes to federal laws. Only Congress can change the law.
Therefore, the U.S. Congress did not give DeMarco the power to take all the future profits of their wards in conservatorship into perpetuity, thus Nationalizing the GSES, based on an Incidental Power in HERA: The Net Worth Sweep.
The U.S. Congress would have given the FHFA more explicit instructions to do so than merely drafting in the HERA to do whatever it feels is in its best interests. DeMarco, this non-elected bureaucrat, has been allowed to steal the companies for the Treasury.
The SCOTUS upholding the NWS does not change the fact the liquidation preference can be paid down and the Senior Preferred Stock redeemed under the terms of the law of HERA. The money kept by the Treasury by the NWS should be applied to principle and 10% interest and over payment should be returned to the companies. $301 billion is more than enough to pay the liquidation preference and redeem the Senior Preferred Stock.
I'll take ill equipped soldiers to our cause any day over well educated, knowledgeable defeatists.
We can go at this all night. Congressmen have NO power over Treasury or this process - NONE. ANYTHING you see in the media on ANY issue where the plebians or Congressmen appear to be making the decisions, running the show, influencing, or making any meaningful move on an issue is ONLY because it fits the narrative the higher powers are wanting behind the scenes. This is ONLY going to play out when whatever is going on in the background (economic, banking, financial, judicial, corruption, etc.) is resolved and the higher powers are ready to make that move. In the end if Treasury wants to screw shareholders they will do so and NO AMOUNT of lobbying Congress or the media will change that.
Do you know why? The media is run by the shadow powers (the same powers backing or hanging with Treasury) and they do NOT CARE about this issue. Do NOT fool yourself that the media is unaware, they media knows - every attempt by ANY journalist sympathetic to our cause has run its course without ANY success. Again, this is because the higher powers are running this process and they do NOT care about shareholders. The American people DO NOT CARE about this issue because it is above the paygrade - they are clueless and, in general, cannot be educated on it because they do NOT care and they do NOT have the bandwidth for it - Ukraine, Inflation on EVERYTHING, barely hanging on to jobs, caught up in socio-political nonsens of the day, and on and on and on.
In the meantime saying stupid shit only moves concern for shareholders further down the ladder rung and not a thing you or I say has any power to sway those who have no interest in being swayed. The deciding factors: banking, economic, funding, housing supply and affordability, judicial decisions (especially the jury decision) will in the end - when these finally become the overriding factors then Treasury (FHFA) will move.
G fees have been about 45 basis points so this is a potential revenue stream of $13.5 B ($3 T ) between fnma and fmcc.
Its $4.5 Billion in Revenue this summer added for fmcc!
Thats $9 B in revenue added by Fall…
HOLY SMOKES !!!! $$$$$ thats like $27 a share eps assuming 1 yr is $18 B added.
FNMA And FMCC To Tap Into $3 Trilion Of New Market , NEW Revenue Stream!!! $$$$$$$$$$$
https://finance.yahoo.com/news/3-trillion-could-injected-u-192408915.html
"law and justice will win. always does."
- Yikes. You are ignoring a ton of history!
True. But knowing all the details and remaining quiet doesn't help. Add your voice with all the correct details. Contact the legislators and the media.
That’s true, but ya better have your facts in order. They don’t give a shit about theft in D.C. - especially if it were only 8000 victims when the thief is the govt - unless these 8000 were mega donors. Better to speak up knowing what you’re talking about, putting some intelligent force & appeal in your message and for Christ’s sake reference the masses of potential voters holding these shares.
Actually, we need more shareholders to speak up. Staying quite when you're being swindled makes you either a saint or a coward. Those who aren't saints, MAKE SOME NOISE!
You're certainly mean-spirited
and hostile
You don’t do ANYBODY ANY favors sending shit like that to these fraudsters. First, have your facts straight; second, find someone who can write beyond a rudimentary level (or use AI) these people live in the stratosphere and they’ll just blow you off as a greedy unsophisticated simpleton deserving of the Treasury shakedown. There are NOT just 8000 shareholders. The companies report what they know to be “registered” shareholders. Look that up; the overwhelming majority of shareholders are NOT registered in the sense of what the GSEs are reporting.
https://www.wsj.com/articles/return-of-the-housing-godzillas-fannie-freddie-biden-second-mortgages-f7ac7d77?st=120b24forsh61c5&reflink=article_copyURL_share WSJ doesn’t like the idea of second mortgages sponsored by Fannie and Freddie actually sounds like a good plan to me
I just sent this note to McHenry:
Mr. McHenry
It’s close to a crime that Fannie Mae and Freddie Mac are still in Conservatorship, which has caused great financial distress to a great many shareholders, and left others in financial limbo. In total around 8000 shareholders
have been negatively affected by the Conservatorship.
when you have an option of 2 roads to travel at a turn, the most difficult, if the right one, should be taken. shareholders are on the right one following the law.
those taking the wrong road, consider themselves above the law:fellow travelers issue net worth sweep memo overnight, questions unanimous jury verdict, delay, delay, 16 yrs in making, hide stress test, considers fannie and freddie like a bank , a bank that keeps your cash and your savings account , and asking for an absurd capital level while doling out with other hand.
law and justice will win. always does. time. but time value of money will continue to erode this.
file it with sec if you haven't, better than posting here, can just copy and paste from many of the issues raised here.
i have been saying that they want all to go away
if true, it is bullish in itself. i am not sure though if sec can block any buyer (ftc can) and why the news isn't public. anyone can buy it if fhfa thinks they need ton of money and headed for receivership. so much balooney out there (and here)
Do you have a link for this ?
The night is darkest before dawn
SEC blocked Buffett and Munger from buying FnF.
Anticapitalism was summoned during the Senate hearing, organized by the chairman, senator Brown, and the Goldman Sachs alumni, Sandra Thompson.
ST was very interested in highlighting that only "mom-and-pop businessmen" invest in their Multifamily business (Apartment buildings for rentals), when their Charter Act doesn't distinguish between small and large investors, as long as the clause Credit Enhancement is upheld (currently violated with the CRTs, and before, with the PLMBSs).
In the Multifamily business, Freddie Mac, which is the lead player (Fannie Mae catched up in volume a few years ago), issues K-certificates, which are comprised of bonds guaranteed by other players (just like the Commingled securities in the single-family business since 2020), which complies with the number 3 in the Credit Enhancement clause.
The last turn was senator Brown, who used the Senate and his position as Chairman, to bring to the town square one of his fellow neighbors of his home town, accused of being a businessman, and he set him on fire, for all the world to see.
Clearly, they aimed to prevent FnF from being acquired by Private Equity firms.
The sellers of business to FnF can't become owners of FnF.
Neither the banks that originate mortgages, nor Warren Buffett who owns Clayton Homes, the largest builder of manufactured housing and modular homes in the United States.
A question of conflict of interests, regardless that their BODs include builders, required by law.
FnF include the acquisitions of mortgages secured by manufactured homes since 2018.
But I'm sure there are many other Private Equity firms willing to own FnF.
As long as they acquire our stocks at their fair value, either directly or through an intermediary (the Treasury department buys us out at the stocks' Book Value), I'm good with that.
The JPS aren't part of a takeover, as they are redeemed by FnF at their fair value of par value.
Finally, remember that their huge Other Investments Portfolios, the most liquid mortgage-related Investments and the swelled Restricted Cash in Fannie Mae ($33 billion), facilitate a Leveraged Buyout of FnF, using most of those assets to finance the acquisition.
No, scammer. Both ideas are written in different sentences, separated by a full stop.
Fannie Mae says that:
I've heard it said that, "Just when things seem
their worst, things get better."
Oh wow. Gabby and I were wondering the same thing today as we enjoyed our lunch at Costco. It is true. Great minds think alike.
this could be our story as well
this soap opera could go on and on
delay
delay
delay
until all the shareholders go away
-I listened to a pod cast this am about the economy and investments. he said the best way to get shareholders to leave an investment is time, meaning hold the price until they leave because no patience. he was referencing gold for so many years being held down. same as FNMA and FMCC. They don't want us owning this. IMO
well just look at his treasury and fhfa hires.
it tells the whole story about no one in power with any experience.
LOL
“As for the company's growing pile of cash and Treasury holdings, Buffett said it is likely the value of these holdings exceeds $200 billion during the current quarter, noting he's "quite satisfied" with the position.”
Good grief, He alone could easily recap FNF. The tier 1 capital (commons) would meet the stupid capital requirements.
Go back to sleep. When you wake up everything should be back to normal. If it isn't, go back to sleep again. Or, you could just look at calendar.
Trading slow today, price unchanged
Plus no volume...what's up with that?
How's the hero Jared Bernstein doing?
WH should not trot Jared Bernstein out to brief public on the economy, about which he knows little. MIT Economics trained NEC Director Lael Brainard would be the appropriate spokesperson for Biden...but maybe she is reluctant to project "economy is great" when it is really… https://t.co/C3DTxenLuD
— Harald Malmgren (@Halsrethink) May 4, 2024
Yes yes Munger picked Fannie and Freddie for Berkshire Hathaway before kicking the bucket.
no point asking as you know. were you able to file sec case? he got ticked off with my sec post, is a sign as we know fellow travelers do not want that. put down all of your thoughts but in multiple complaints to keep it short. good luck.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174356074
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174354721
$FNMA The Government has held Fannie and Freddie $FMCC , back so long they might not have any option but to release them clean. If they don’t let FnF start doing what they were designed for, mortgage rates will be 9-10% before the election.
Wiseman you are a nut case!
I didn’t say this the company said it.
Again: 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
AGAIN: “Separate Account plan” kindly, explain to us how this will unfold. And when will this take place? Hello !
Buffett: Munger's last stock pick FNMA,FMCC?
More evidence of a conspiracy FHFA-C and the Plaintiffs.
The unsophisticated lawyer from Ihub, is Mr. Pro Se, who also participated in the Madoff scandal, in charge of the bankruptcy to spin undervalued assets off to themselves.
The same accusation against Mnuchin and his buddy, Berkowitz, in the U.S. courts, as Defendants in the bankruptcy of the retailer Sears they were executives from (they forced the retailer to take out loans they granted personally, knowing that the retailer couldn't pay it back, with a huge collateral attached. Source: lawsuit).
Now, it's been spotted that FnF and the pro se plaintiff calculate the capital metrics the same way, not how the Basel Committee on Supervision (FHFA Capital Rule) and FHFA regulation 12 CFR 1240.20(b), assess it, with the sum of its components.
Certainly, this financial illiterate plaintiff (or how the attorney for Berkowitz, David Thompson, calls himself "unsophisticated lawyer" after pointing out that he is not a regulatory lawyer, but a litigator), couldn't have come up with the formulaic himself, that attempts to pass the Net Worth off as regulatory capital.
Both follow the instructions from the conservator, FHFA director Sandra Thompson, in charge of, precisely, regulatory policy, capital policy and financial analysis, since she arrived as deputy director in 2013.
Both currently parties in the Lamberth court with an "implied contract" claim (fiction), because they are reluctant to unveil the Separate Account plan (explained in the link provided in my prior comment) in accordance with the law and basic finance.
They rather play the fool.
That's the Capital Rule.
— Conservatives against Trump (@CarlosVignote) May 3, 2024
Then,FHFA outlined the definition of CET1 in regulation 12CFR1240.20(b)
It consists of the sum of the following elements:
Common share par value, less Treasury Stock(stock buybacks)
Additional Paid-In Capital acct
Retained Earnings acct(limit in DTA)
AOCI
The shareholders already filed a S.E.C. complaint in August 2020, denouncing the SPS LP and its offset with reduction of Retained Earnings account, absent from their balance sheets.
Posted at the end of this comment.
Important clarification: the charge on the Income Statement that makes FnF post $0 EPS every quarter, is correct.
There was a theory at the time, that the SPS LP increase for free was only an Equity transaction (balance sheet) and thus, it can't appear on the Income Statement.
Later, it's been rectified and their Income Statements are correct.
A SEC complaint doesn't understand of White House administrations or congressmen that come and go.
Don't mix up the Separate Account plan with your add-ons, Mr. Pro Se.
Crazy stuff with your 30+ aliases, with the objective to tarnish the image of those that truly post in-depth analysis: "spsa an illegal contract", "illegal actions of treasury to appropriate 200 billion in taxpayer debt", etc.
An by the way, the U.S. banks have the same Basel framework and the same capital requirements as FnF with the Risk-based capital ratios (RWA): CET1=4.5%; Tier 1 capital=6%; Total Capital=8%.
With the Leverage ratios (adjusted total assets), the banks have more stringent capital requirements: Tier 1 capital=4%, whereas 2.5% in FnF.
Only complete idiots think buffet has anything to do with it. So we don’t have to worry about any change
It is highly probable the recent increase in the share price from 50 cents to $1.50 was entirely due to Buffett slapping our ASK. We needed a good slapping anyways. Interestingly enough my girlfriend Gabby and I were discussing this very matter during dinner at the Costco food court. We split a dog cause that’s all I can afford. Afterwards while shopping at Costco we ran into Calabria. He was buying bulk cat food. In the next aisle Gabby and I ran into Mnuchin. He was buying bulk lip balm. I asked Mnuchin myself why do you need so much lip balm. He replied “I need it for all the lip service I provide.” Gabby and I agreed. We then moved on to the cashier line. Low and behold we saw Watt huffing and puffing completely out of breath. I asked Watt why are you panting so much. He replied he was chasing all women with tattoos. Gabby and I then left Costco. We are expecting our first.
Could be RKT too. He and Dan Gilbert are good buddies for a long time.. just saying. Still part of the mortgage world without the uncertainty of the government noose around the neck..
for the lazy ones, here is the link
https://www.sec.gov/oiea/Complaint.html
your weekend homework, don't get a 'f' must get an 'a'
joke aside, we all must do it, it will be useful, everything else has failed
flood the sec site . it is the fannie weekend. at least we are following the law.. sec database and the record cannot be wiped out, not any party's property but will be a permanent record.
instant gratification : a cool emoji when you confirm that you got an "a"
kill the guarantee by Treasury
kill the asset held by Treasury - LP/SP that does not pay cash
use the WTS
(and ?? free us ?? as you raise say 100B on 4B shares over two years - for total shares outstanding of 5B !!)
No conversion and I can live with it mild dilution
I love it - with my expansion
It's almost a "gimme" that it's not F&F!
Green Day
only a penny each for Fannie and Freddie
Strong Support for Next Week
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