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You're dang right I'm sure and there's nothing novel about them. Senior/junior, etc. only denotes seniority in rights. Just because you have an ownership interest, i.e. - SPS, JPS, Commons......that doesn't mean the ownership interest has any value (in the case of negative net worth).
You seem to be confused by the SPS cumulative dividend feature.
A wise person would study how Treasury dealt with AIG and then understand 'fiduciary duty' is not at play here, as it was there. Occam's razor.
You say the SPS are equity. Are you sure? The SPS are a novel financial product that has never existed before 2008. (Violation of the Safety and Soundness act of 1992) 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. The current value of which is greater than the company. So what equity do the SPS have in GSEs of a negative net worth of a couple hundred billion?
The only things that guy is good at are3
1. Making money off taxpayers or from some BS think tank
2. Getting fat
3. Talking about fixing roofs when the sun is out
4. Petting his kitty
nice nickname
I like bradforcommons or badforcommons
LOL
just a question- with this much of the commons value getting diluted in this jps pipe dream
the dividend payouts, if any, would be pennies as well
right?
tia
Then I would agree with your outine that converting the SPS to common would be a credit to Capital. Commons would end up with 5% where JPS would end up with 14% of the companies?
Write off of the warrants and conversion of the SPS then commons would see $4 ? and JPS 70% par ? with release ! I'd take that just to get the dividends turned back on and back to private ownership !
Brandfordamus will never say that SpSa is gone .. that's his bread and butter
I do not believe the two of them (Mnu and calab) would have the guts to violate the presidents order if he wanted it to happen. Particularly, if Paulson and Icahn were having his ears
The SPS are equity.
He didn't release FnF when ordered to by his President
nonsense
indeed if Mnuchin wanted them freed it would have been done - pronto
the desire by DJT became a study and report - look back about 10 posts
then read that report ----- lukewarm dish water (90% similar to BO and his lukewarm dish water
protect taxpayer
foster competition
thin F and F so others can compete
yada yada yada
neo - what you gonna say when someone posts the link
Here's what Calabria said before he was appointed Director of FHFA:
The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles http://t.co/ujWQYLPiFI
— Mark Calabria (@MarkCalabria) February 9, 2015
mentioned in Calabria's book and nowhere else ... you ought to know better than to respond to donotunderstand by now ... the most apt name on this board
The $125b is existing current net worth, not spspa related. This is from retained earnings
"some one posted an official page (a report or SEC or ?) with the footnote from Calabria or maybe Mnuchin - illegal to write down"
I'd love to see this footnote if anyone has a reference. I've been trying to find anything supporting the "illegality" theory and cannot find anything.
I once got stuck between the moon and New York City. I know it's crazy but it's true. The best that I could do was to slap the ASK.
Is it booked as DEBT or Senior PFD equity ? The GOV has always called this equity - an investment not a loan or debt
I do not know the accounting. But, as I understand it - Treasury can "force push this paper" on F and F making F and F have to pay the GOV back their investment (anyone?? - this is not typical Senior Preferred - it is defined in various unique documents)
As such the investment and added LP dollar IOUS - hang over F and F as a probable (at some point eventual) use of cash (when GOV demands to be called out of the Senior paper - traded if you will - cash for extinguishing the paper)
With this "cash use overhand" ---- a NET NET count of capital at F and F takes the (supposed or declared) reserves and subtracts the LP --- which takes us to negative land
Kill that potential for GOV to ask to be "bought out" --- kill the expected pay back to GOV to extinguish the Sr Preferred Pape --- and THEN the capital that F and F have ---- is golden and real for the first time (all the original is gone and all the IOUS in the LP disappear but F and F keep their cash)
Anyone --- show me the correct way to say this - which in its message I believe is accurate
When you pay off your debt, the debt no longer exists. Nevertheless, your personal balance sheet will look better afterwards
This article shouldn't be considered a political post. It just discusses what was/is being done by two different administrations to release Fannie Mae from conservatorship.
https://www.americanactionforum.org/insight/comparing-trump-and-biden-administration-policy-housing/
What goes down must go up
Fannie Mae all the way
Is ST gone yet?
any news on that?
Can't wait for both ST and Yellen to be gone.
go FnF
That doesn’t make sense. Something that no longer exists (SPS in this case being presumed written off) can not count as equity.
Fannie Mae has recruiters looking for Finance Data Analysts to develop SME in QRM and to pull back data sets / create user documentation to prepare for audits - they'll do remote as well
Nice to see the bid on the variable 50s go up!
If he's still associated with the snake-in -the-grass, he probably needs to be in concrete.
Traders and market players with real money to throw around know perfectly well how and when to manipulate this stock. It's happened repeatedly throughout the life cycle this trade with legal decisions, congressional mouthings, and the election cycle. So it WILL become a Trump trade if he is somehow NOT eliminated as a candidate.
How high can the manipulators take it? Well, hit an intraday high of $5 on Trump's first go around, it may definitely go higher based on a few new elements at this point: "retained" capital levels, most court cases decided, Lamberth decision, not killed yet and most likely not killed, blah blah blah, etc. But rest assured without real activity from Congress, FHFA, UST, or the courts, however high the manipulators take this be prepared for them to pull the rug out from under it at any time.
Could it go to $6? $7? without any real news? ... who knows, but you can bet heavy profit-taking and selling driving it back down without any real news on a compromise or a solution. Congress, UST, and FHFA will NOT let the market price dictate their actions towards a solution.
Otting is now the president of the New York bank that Mnuchin just took over.
the whole seperate account , secret account, on president's desk is so fascinating. lol.
he won't know, too strong of meds
I do not see that high ---- as since then some court cases have gone against us --- but who knows - that would help
I am satisfied - as said many times with $20-$30 and it is over . At same time moving from current PPS to 4-5 (say on a DJT expectation expectation) would be nice - and maybe at 4 - I will unload some - as the same exact historical context showed that once that expectation proved 100% false it fell and fell
YES
YES
and I want that !!
yet - some one posted an official page (a report or SEC or ?) with the footnote from Calabria or maybe Mnuchin - illegal to write down
To me - it is legal . Why? This SP and LP is seriously unique and just as GOV has changed the rules over and over ( NWS - keep cash - write IOUs - etc.) -- they (Executive Branch - Treasury or POTUS) can change them again and --- IMO BECAUSE 300B WAS SENT TO GOV - - they can be considered paid
"Can we have Mr. Otting back ?"
Otting broke ranks and gave the impression he was going to help the shareholders. He is somewhere unknown, encased in concrete.
it should already be at least 4 way before today, any non FFFhoney Preferred lover/commons hater can understand, this is worth more than anyone like Ackman has calculated years ago. the earning have been coming in heavily for years after He calculated 15 to 20 something. its a diamond in the rough that that Treasury and FHFA dont want to admit that they smashed a huge diamond into little cash cows but are still diamonds if you followed the laws.
It’s hidden underneath the porch at big Dane’s house
Big Dane has killed many men looking for the secret treasure
Jim Carrey almost found the treasure in an abandoned “hoo-ha” in the “Dumb and Dumber” remake
To no avail, onward we search.
Buying Frenzy Stampede on the Horizon
Run Fannie Run
Charge Freddie Charge
FFF
how high do you think F and F can go --- without clarity on the LP/SP ??
Do we or do we not - have an obligation of some sort to pay out 200B
Until that is settled (which IMO does NOT require freedom or relisting or ...) we are a traders punching bag
HAS ANYONE ---- even one ? - gone to court o this bullett issue !!
I am not sure i agree but that does not matter at all
F and F have paid - 250-300 B in cash (someone with exact #?)
To the best of my knowledge - every penny has been DEEMED and BOOKED as a dividend - be it the 10% or the NWS higher level some quarters
If that was illegal - what ever illegal means with our courts and F and F ---- then TODAY --- I mean TODAY F and F are free
But it requires some one with money - who agrees with the rationale to bring a case -- or its words on IH
What 12 people?
More info please
SCOTUS only has 9
Tia
I and my other 35 pro se aliases don’t understand you. Maybe ask someone to help you compose your posts so they make sense to anyone other than yourself. From the evidence I can find, the only separate accounts have been that Treasury used Tarp funds in an illegal “separate account” to provide the “commitment” in the SPSPA. While they purchased billions worth of MBS on the secondary market to help their banking buddies. The whole Conservator charades purpose has been to cover up those other super secret separate accounts while hiding the evidence behind national security and executive privilege.
Do we test 1.99 soon or back to 1.49 “whack a mole” time again.
Go FnF
There is no secret account. It is a malicious lie propogated by carlos vignote
Anyone know what off-shore account the Secret Plan account is held?
(Asking for a friend)
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