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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... 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
not sure all of modern America - but for sure at SCOTUS
I know it was how the issue was raised and other specifics - but these 9 judges could have seen what was going on and done something
$FMCC $FNMA ICBA urges FHFA to expedite the process to end the conservatorships in an orderly and transparent manner while avoiding any disruption of the mortgage market https://t.co/mP6H5xjkRG
— Patrick (@InvestIt3) May 23, 2024
Good bye gains. It was nice to meet you. Hello low of day. Thanks for visiting.
I once bought a used car from Bob Corker. As I drove off the lot the car broke down. I immediately returned. The lot was gone.
The date is 5/22/24. It appears on the last page.
Today I reduced most of my preferred positions FNMAS, FNMAT and FNMAJ. Plan to move into 10 or 20 Year Treasury. Getting ready to close down my Used Auto business and retirement. Still have both commons and few thousands of FMCCTs that I plan to keep for next 5 years.
How much daily/monthly interest does that add, based on the 5% over Fed Discount Rate (5.75% in total) from the lawsuit? Is the interest payable on the $50 par value or the damages amount only? How much is that for FMCCT?
Thanks in advance.
Fisher has the law on his side but in modern America, that matters little..
the thing is that this admin hasn't done anything, lael already said nothing is in works. so everyone thinks maybe a change will be better. rightfully to think so, human nature, though no guarantee as we got foked even more during those last 4 years except lot of cnbc interviews, printing his stupid face on dollar bill , catman saying the c ship is wrong but then hiding stress test, raising capital levels, writing letter agreement.
see what calabria said and what he did
"The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles
— Mark Calabria (@MarkCalabria) February 9, 2015"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174465016
they do well care about their own stock, making billions in djt stock, ramswmy making billions of buzzfeed, mnuchin making billions of ny bank, now pumping crypto for campaign donations. why aren't they talking about fannie freddie shareholders ? whose investment from $1500 down to $0.40, retirement lost, 529 lost, 16 year conservatorship where so many died without seeing a dime.
won't happen. I won't say why or post won't be visible.
the only positive is the possible trump release of the twins
Appeal from the United States Court of Federal Claims in
1:13-cv-00608-MMS, Senior Judge Margaret M. Sweeney
So - this goes to the "local" circuit-appeals court?
I thought this very same court has already knocked down appeals (although maybe not for the reasons or logic presented here --- SCOTUS and ..)
??
How many reasons would you like? Here's a few:
Perpetual Conservatorship
Net Worth Sweep Rubber stamped
No Path to Exit
No Path In Courts
No Path in Treasury
No Path in FHFA
I have more but you get the idea.
Looks like May 22nd … as far as ETA of anything happening? If it follows everything else in this mess it’ll be the 5th of Never.
It's those pesky SW MM's again
LOL
what's the filing date on this (I couldn't find it) and eta on anything happening?
anyone?
TIA
Bryndon Fisher's filing might help:
https://drive.google.com/file/d/1SNTJG-C_KQgYCnqdZp9XZg4QCa54iHeS/view?pli=1
We cannot seem to breakthrough $1.56 for some strange weird peculiar odd reason.
Sounds like a verse from Jethro Tull, "Locomotive Breath"
Found it
January 11 Commission Report on 2008 mess
Over a few months all but one person agreed with these findings - putting most of the blame on BANKS
One person has NEVER EVER for a minute taken the blame off F and F --- and I found the name. So if you see an article by him - please advise what he is blaming F and F for this time -- Peter J. Wallison
I am expecting a massive pop today. A Big Gulp from Seven Eleven that is.
I am buying 100-500 shares when I can. I sold a bunch at year end and bought back before the 2nd Lamberth jury trail. The bid has risen significantly over the past month.
I'm sensing some upward movement - bottom must be in - LOAD UP
No one is shorting this trash. It simply is what it is.
Rick…ya da man!
What would this community do without you!
I love your slapstick humor…
You have been entertaining us for many years…
When this is all over, I look forward to have lunch with you for one of your famous Costco hotdogs… of course it’ll be my treat.
Michael
I swapped all my fnma to fmcc not too long ago when the gap between the two was 30 c. Ended up with a lot more shares and managed to average down big time. And bigger fmcc damage reward on the way. Best decision i made since bought and held on 2009.
It's locked in Lamberth's desk, and Sandra stole the key.
Crappy Shortie..
What about my insights and ideas ?
Good morning Real…
I always appreciate your insights and ideas. Thank you so much for sharing them.
Michael
Considering how judge deadbeat has stretched this GSE case for the longest time, I’d say we get news around Halloween like the 2 previous times. Lard azz has been biased and utterly unprofessional thru out the process. Why would gse shareholders expect anything else than 3rd rate.
Fnma
Launch Pad with no fuel ! Lmfao - clowns!
Does anyone have any idea on the appeal of the 8-0 jury trial ? Don’t think it can be a re-trial. Do we know the schedule or progress? Thanks in advance.
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