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1 week chart showing $FNMA cannot be held down much longer. #moonshot 🚀 pic.twitter.com/XpiDrISOz3
— Stankonia Capital (FTP FJB VLLC MAGA) (@StankoniaCap) May 15, 2024
FnF closed at $1.51
hopefully the start of something
FnF closed at $1.51
hopefully the start of something
FnF's enormous regulatory capital holes cannot be filled unless the SPS are written down, converted to commons, or some combination of both.
Even with that happening, FnF would have to raise capital, and no capital raise is possible with the SPS overhang currently in place.
Time to make electric homes
What? You just ignore that FnF started retaining earnings during who’s Presidency?
KThomp, you appear to have a solid, in depth understanding of FnF history as it pertains to FHFA and Treasury.
How do you see the preferreds and commons doing? I realize there are numerous possible outcomes, but I'm curious what you think.
I wish they would have wiped out shareholders in 2008.
Pre conservatorship shareholders would have sued and won but companies still gone.
I would have never bought. Imagine where my portfolio would be without this loss since 2009.
We deserve this to end and get paid dividends, etc.
WARNING: you all do know he’s a policy wonk and he’s an advisor at the Cato Institute, right? It’s 36 minutes long and you WILL be bored. He has strong opinions about agency independence, banking regulation, housing policy, he does want a combined financial regulator (at a minimum merging FHFA into the OCC), etc.
He ADMITS pushing back on the Trump Admin when they wanted him to move on the GSEs because he thought as a regulator he shouldn’t buck what he thought was the will of Congress (HERA).
If you make 4.3B in a quarter and the shares only go for around $1.50 per share. The outstanding shares are 1.16 B shares. The math to me is the made $ 3.70 per share in the quarter.
I know we are in a conservatorship.
NOBODY, I repeat NOBODY, other than shareholders, especially any Congressmen, agency official, or influential policymaker, cares about the plight of shareholders. In fact, I contend that it is counter productive to contact ANY government official seeking any relief SOLEY on the basis of an appeal to shareholder plight.
If you all love the cheerleading here more power to you, if it helps you hang in there and find camaraderie, great! As they say misery loves company, but don't be fooled for an instant that you are making a difference to the powers with the boots on your neck. You have a better chance appealing as above, through the backdoor, but for Christ's sake do it smarter!
I read the comment by 'Rule of law guy' and had a laugh. If you don't understand that the SPS aren't "fully repaid", then you shouldn't be commenting at all. And certainly TH's follow-up was just as stupid.
The two problems with trying to have the liquidation preference (LP) offset the funding commitment are:
1) As Tim said, having the funding commitment continue post-conservatorship would be very helpful compared to it disappearing. Also, the LP is valued at $220B on the government's books (as of the most recent Financial Report of the US Government), while the contingent liability of the funding commitment is at most a few billion due to the extreme unlikelihood of it having to be touched at all let alone exhausted, in the future.
2) Treasury choosing to write off the SPS rather than exchange them for commons a la AIG amounts to writing an enormous check to shareholders for no reason. Mnuchin said that it would be illegal and would result in a lot of political fallout according to Calabria's book. While LP writedown would be seen as "fair" by shareholders (though certainly not by people like Senator Warner), I don't see any reason to expect it to ever happen given all the evidence we have.
The Conservator is supposed to have a duty to "Conserve and Preserve."
Let's forget the history we all know here and assume this to be true.
So when the FHFA acts as a con-
servator, it may aim to rehabilitate the regulated entity in a way that,
while not in the best interests of the regulated entity, is beneficial to
the Agency and, by extension, the public it serves. This feature of an
FHFA conservatorship is fatal to the shareholders’ statutory claim.
How is it they can give away billion$ to low income housing when their stated duty is to conserve and preserve. I would expect they should not be allowed, legally, to give ANY of that money away. Other than being the government that nationalized the GSEs, how do they get away with this?
Translation: we are f*cked until TSY decides to play fair.
What it does mean is that if they are to do so (convert senior preferred shares to any other class) they will need another amendment.
After the jury decision, presided over by Lamberth, I want to see how they pull off yet another self-enriching act knee-capping current shareholders.
Any new amendment will be the perfect opportunity to reassess the full picture and, in light of all that has transpired, the new assessment should be quite positive for the company and current shareholders.
If you want to make an extreme click-bait statement, sure.
you state facts yet drill down to a single conclusion that only time will tell if it's true.
Shareholders have the rights associated with the Shareholder agreement. These rights do not dissolve suddenly in 2012 because of a contract between two government entities that violates the fair dealing with Shareholders. These rights travel with the shares. This is backed by the Berkley verdict.
In fact, Treasury could wipe all of the Common and JPS value based on their LP amounts.
It's also possible the leader of the free world will believe in the 5th Amendment.
The resolution of Conservatorship may include NOT further violating the covenant of good faith and fair dealing with Shareholders. IMO, this would be the smarter resolution.
but is it on the TREASURY balance sheet ? and if yes - how does it show --- as the SP value or ?
And there will soon be a ratified 2023 decision that says Shareholders do have a right to reap in the benefits of the company profits as per the shareholder agreement.
What's your point?
Yes, although this doesn't mean lawsuit/s won't be filed after the fact. They just have a near-zero chance of success.
While it's possible the 300+bn worth of SPS gets converted, it's also possible it's less than that.
The amounts CAN be altered with a pen swipe.
As I've said multiple times... I've already given you all the info I care to share. If you can reverse engineer something, good for you. If not, too bad so sad. I am under no obligation to show you my formulas nor the different scenarios.
What you want? Am I supposed to care? We have zero obligation to jump through hoops for you.
At no point did Treasury state they thought anything was illegal. Treasury is an entity, not a person. I've said this multiple times and I don't see you producing any evidence to the contrary.
There had been some calls over the course of the conservatorship for Treasury to just forgive all or part of its claim. That was a nonstarter, politically, for Treasury. Moreover, Treasury claimed that it could not legally do so.
Again, I've answered your questions multiple times. The answers are vague and not to your liking because I'm not Nostradamus.
But you are also the pot calling the kettle black.
Govt doesn’t own yet
Ackman does
Warrants were collateral
Govt has been more than paid back
FNMA & FMCC
Greeen Money Masheeeens
Navy and who? lol.
We are next.
https://on.mktw.net/3wEcOp9 Check out this article from MarketWatch - Five things to know about meme stocks like GameStop and AMC — and why they’re hot again
whoah
wait a minute
this says elected board member in the fine print?
something happening or I am just making something out of nothing?
don't answer that. LOL
SEC Filing | @FannieMae $FNMA
— José E Burgos Lugo, PA (@TheBurgosGrp) May 14, 2024
@JarndyceJ read where she’s coming from. https://t.co/MjPxqTbzUO
delta down to .06
will it get to zero or above FNMA?
it's a slow repeating pattern that I should hav replaced bets on.
how do you get 1 billion per quarter if adding 1 trillion?
i am happy that you did not show your ugly face at the open
did anyone here ask you if they have value? are you a financial analyst or something?
Closer to zero than $5. What else is new.
Still priced below pre Covid levels (FNMA) and there is still excitement here .
Rumor is she is only halfway through conservatorship so still way overpriced at this level.
Oh wow. Lots of big buys in the last 15 minutes of trading. Maybe the meme people have arrived. More will likely come tomorrow morning. I will wake up early and sound the whale horn. I am WhaleBalls.
Can we breakthrough $1.50 today and set a new high of day ? Quite possible since no signs of Sherwin Williams so far. Probably still at Happy Hour per Golfbum.
commons up today, hooray!
in my view, they have value if the government writes down the value of its spspa.
“ All the stocks trade based on fundamentals.” REALLY?
Only worth what some moron is willing to pay! The Secret Plan is more believable than the “fundamentals” with GME & AMC
The word “meme” comes from the Greek mimema, meaning something that has been “imitated.” According to Britannica, the word was first introduced by Richard Dawkins, a British biologist, in his book The Selfish Gene; his intention was for “meme” to sound similar to "gene.” In his book, Dawkins makes a direct connection ...
It appears the MEME craze is almost over. SEC investigation on deck.
Under the B we have a $
Under the I we have a 1
Under the N we have a .
Under the G we have a 5
Under the O we have a 0
Yup it's a BINGO.
Bingo. $1.50
Oh wow. The end is near. There are no more worries anymore. It is official. The end of the trading day that is.
Quit promoting the hedge funds' Roaring Kitty stuff with GME or AMC, for stock price manipulation.
All the stocks trade based on fundamentals.
Therefore, a NYSE placement would be necessary on day one that the Separate Account plan is unwound.
Forget the up 100%. The next day, 160%. Down 50%. 40% up. Down 20%. And so on and so forth, during months and always 40% below an estimated fair value, so they continue the stock accumulation.
With all the known paid shills lying daily with flawed analyses, as they are doing on this board. The Boat tomator, plaintiff Mr pro se, Bradford, Guido, John Carney, etc.
We have a Fair Value for each class of stock, for each scenario you can think of.
It doesn't need to be perfect.
Everything is fixed on day one with the necessary Reference Price and ISIN code change in the stocks, like occurred when we moved to the OTC Market in 2010.
let us all go ahead and contact roaring to roar this, can't hurt. he did not get into trouble last time as it was govt call anyways imo but in fannie case he may not get go ahead but worth a try. the market has become a joke if you ask me and sec is quitely watching (and more the reason i feel this is a go ahead by govt but not sure what they gain with it)
Warning! Danger Shorts Danger! Roaring Kitty Spotted Ready To Pounce On Fannie! $$$$$$
Over the 10+ years many of us have been here we have seen things like you are describing countless times and nothing comes of it. We are traded on an unregulated forum. Until we are relisted on a regulated exchange stuff like that means nothing.
i wonder if anyone checks short squeeze they went down -26% a week ago now its -5% that tells me something is up your thoughts please GL i am not shorting
Whomarjb ... do yourself a favor and curate a better experience ... put him on ignore ... life is too short and there is some good discussion here when you weed out the opinionated nonsense...
"Come Darlin', let us seek our entertainment elsewhere"
You are one of the many clownish reasons I believe I'll take my leave from here
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