Freddie Mac-No Politics (FMCC)

[Ace Trader]

Yes me too loading every week dry powder and waiting for the slide

[trunkmonk]

im waiting to pounce on some really cheap preferred shares.

[Achilles deFlandres]

you are making a mistake. Focus here and wait for R&R

[trunkmonk]

Dow is up 1000 points, GSEs up a penny or 2 maybe. please understand all the talk is meaningless and invest in fundamentals or if u have to in a place that has positive forecasts. GSE ville is not going to move fast, no matter the good news coming. If it’s one thing u have here is time, lots of it.

[955]

No accountability in the courts or anywhere. ARREST THE CRIMINALS! We won't see justice here or anywhere until there's a return to accountability as MAGA is failing miserably. Accountability is dead. In fact, it's swung negative. Down the rabbit hole we go. The worst is yet to come.

Obama's
...has removed all deterrence. They mean to reduce the world's population from 7 billion down to 0.5 billion. Don't believe it? Just check out WEF Klaus Schwab.

[Ace Trader]

Who knows. But I'm going to take these next few months to buy more each month and average down. I take it this is going to slowly slide down into the $0.30's so worth the gamble.

[trunkmonk]

FMNA OS will it ever be FNM again?
1,158,087,567

FMCC OS, will it ever be FRE again?
650,059,553

as of 11/4,

[955]

If they were the best qualified for the position, then yes. Gender should not be a selection criteria. But I have some doubts they were the best qualified. Lamberth has control over this and should have kept it clean. Today's Gov is more focused on advancing folks based on political and ideological persuasions rather than best qualified for the duties at hand. A sure recipe for disaster.

From the other board:

Is it fair that all 8 jurors are women?

[955]

You are spot on skeptic7. What does that tell you about the state of the nation?

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170358737

[FFFacts]

Hit fast forward and tell me how this ends?
My guess is endless appeals.

Recapping will be a multi-year process if given an opportunity, that may happen in this administration depending on the outcome of the court cases or after 2024. My biggest concern is if scotus takes the takings case and they payoff shareholders pennies on the dollars for their remaining interests in the stock and the govt will then have full ownership. The derivative takings is a new theory but if that is successful that will be an opportunity to have the biggest and most immediate impact for shareholders who will then have ownership interests and the companies would get a substantial amount of money back. Rop or Bhatti could also provide some relief. At some point you can't appeal no more so there is no such thing as endless appeals.

[trunkmonk]

According to stock price, which is always a leading indicator, not much has changed today. Can’t say same for preferred, down 5%.

[Ace Trader]

Freddie is 650 million and Fannie is 1.5 billion
It’s in the conservatorship docs

[trunkmonk]

It was designed to dump bad debt from bank buddies.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170284444

[trunkmonk]

I think yahoo is closer. They have half of FNMA and they have over a billion. Forgot actual count.

[trunkmonk]

Imagine if SCOTUS had all the facts and was not lied to???

[robertus]

Fmcc 650 millions shares outstanding

[nagoya1]

Does anyone know what the OS is for FMCC, on Ihub it's 250M and Yahoo it's 650M.
The FMCC website is working for some info and down for others, it's weird.
FMCC

[trunkmonk]

agreed

[Ace Trader]

I don't see it moving much until a whale starts buying millions of shares or the NWS stops! It's going sideways until them. Even a win in Lamberts court, there will be an appeal then appeal to SCOTUS so we looking at another 2 or 3 years maybe.

[trunkmonk]

exactly what were conservatorship goals? special interests? death to shareholders?
certainly zero goal had to do with conserve. golden years for GSEs was completely stolen by self dealing treasury and FHFA.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170256562

[trunkmonk]

low volume lately, needs to pick up for anything good to happen to share price with so much in the float. oh to see the days of 100m or more, and green.

[955]

Bingo! Thanks Lite for posting

Reposted in the event the link gets taken down.

Iceland Has Jailed 29 Bankers. Why Can't the UK and US Do the Same?

By
Stefan Simanowitz, Contributor
Writer, journalist and campaigner

Jan 5, 2016, 12:10 PM EST
Updated Jan 5, 2017

Just before Christmas, the former CEO of Iceland's Glitnir bank and two other senior bankers were sentenced to jail terms of up to five years for market manipulation and breach of fiduciary duties. This brings the total number of senior Icelandic bankers so far sentenced for crimes in the run-up to the 2008 banking crash to 29.

By contrast not a single senior banking executive in the US or the UK has been jailed for their role in the financial crisis. Whilst banks - such as the five found to be rigging the Libor rate - have been hit with substantial fines, the individual bankers behind the fraud, market rigging and irresponsible lending that led to the economic meltdown have all avoided time behind bars.

On top of this came news last week that Britain's financial watchdog, the Financial Conduct Authority, has shelved a planned inquiry into the culture of banking. Whilst this inquiry was never going to hold the guilty to account, it was hoped that it might at least provide a level of transparency and analysis to help shape more rigorous future regulation.

The clearest example of why such regulation and cultural change are essential in the banking and beyond, presented to me some years ago, and in an unexpected way. I was at a weekend music festival, in a sunny field talking with friends outside a double-decker cider bus when my eye was drawn to a boy who could not have been older than ten. He was hanging around a nearby table surreptitiously eyeing-up a full but unattended pint. After glancing around to check no one was looking, he picked up the drink. But instead of indulging in a bout of underage binge drinking, the little tyke emptied it onto the grass beneath the table.

This may appear to be strange behaviour but in an attempt to be environmentally friendly this festival, like many others, offered a small refund on plastic glasses. At 10 pence the refund did not provide incentive enough for most adults to return their glasses, hence the festival was filled with battalions of children weaving through the crowds, their wobbly stacks of plastics protruding like glistening shark fins.

Whilst the activities of these mini-entrepreneurs, eschewing face-painting in a field or story-telling in a yurt in favor of earning hard cash, may be dismissed as a harmless if depressing sign of the times, the actions of the boy at the cider bus offer something more.

I'm sure that there was nothing inherently bad about the boy. He had not grown up in a moral vacuum and was perfectly aware that what he was doing was wrong. He almost certainly did not begin the day tipping out full pints of cider. Instead, he probably set out that morning collecting empty glasses with rosy-cheeked enthusiasm. But as the day went on he became more avaricious and his boundaries began to shift. It is this shift in moral boundaries and the circumstances under which it happens that hold the key to understanding where societies go wrong.

By pouring away someone else's £4 pint in order to get 10p in his pocket, the boy was displaying the same instincts as the bankers who maximised their profits, heedless of the damage being caused to the global financial system. He was showing the same motivation of those working for big corporations that exploit our planet's natural resources regardless of environmental and human costs. He was showing the same behaviour of governments who prop up brutal dictators, sell arms to the highest bidder or wage wars of aggression for the sake of power and profit.

This is not to say this boy had somehow taken his lead from those around him or that the corruption at the top our society mysteriously trickles down. Instead, it illustrates how the baser elements of human nature will emerge and flourish in certain conditions. The conditions in this case are an unregulated free-market within a materialistic, consumer-driven culture. For bankers, risky sales were incentivised with enormous bonuses, and bad debt was insured against with credit default swaps.

Like the boy, the bankers thought they could get away with it. And like the boy, the bankers - other than those in Iceland - were right.

If I could step back in time I wish I had acted more swiftly. I wish I had confronted that boy outside the cider bus and told him that the pint he had just tipped away was mine. I would have liked to have seen his shame at being caught and his discomfort at having to hand over four of his hard-earned pound coins. Perhaps he might have learned a valuable lesson. Instead, he skipped off across the field looking for someone else's pint of scrumpy to pour away.

[Lite]

Good observation

https://www.huffpost.com/entry/iceland-has-jailed-29-bankers_b_8908536

[955]

Bankers doing what bankers do to eliminate the competition. Treasury under complete control of the banksters and "We The People" under complete control of the IRS, a division of Treasury. Banksters also responsible for starting wars to profit off the sales of weapons to the military industrial complex. They also set interest rates and control the printing of money. How's that for totalitarian control. And our leaders in Gov bow down to these criminals.

[955]

Bankers doing what bankers do to eliminate the competition. Treasury under complete control of the banksters.

[955]

Agreed

[Ace Trader]

BOOM…

De Marco on the stand said, well sounds like a good idea. Gov says it is so here’s a bunch of cash $$$ shrrrr and sign it over to us !

He also admitted he didn't talk to accountants, the FHFA's chief economist or its modeling division before agreeing to the net worth sweep.

— Katie Buehler (@bykatiebuehler) October 20, 2022

[FFFacts]

Correct. I have been saying for years plaintiff attorneys totally screwed up not just on the damages but on several other issues like failing to state a claim upon which relief can be granted. These cases were botched up from the beginning. Almost feels kind of like intentional sabotage.

It's clear these plaintiff lawyers are not experts in remedy.
These people know. https://www.alvarezandmarsal.com/printpdf/3866

Check out the other boards for better quality discussions.

[nagoya1]

So what you're saying is that:

It's also possible the jury decides to award plaintiffs more than $2.6b because they feel $2.6b shortchanges the damages caused by the breach of contract, and may agree that $27b was the total value lost as our lawyers are making it a point to repeat over and over so far.

I hope this is the case.

FNMA

[Ace Trader]

It’s in the court docs filed by plaintiffs for damages.
Familymang explained it here ! On in pacer and see the filing read it or navy posted it last week

Damage context:

$1.6b is NOT all we ever asked for (btw the real number is $2.6b when accounting for prejudgement interest), they originally asked for MUCH more. We asked for 4 unique damage models in total, 2 were dismissed by Lamberth in the motion for SJ (expectancy + restitution), and 2 were dismissed after SJ ($2.9b loss share value + reliance).

1. Expectancy ($15b+ in damages): Requested this from day one. A DCF of the dividends shareholders should have received. This was dismissed by Lamberth in motion for SJ because it contained too many assumptions that weren't reasonably certain to occur (such as Treasury paying down snr pfds and/or approving divs to shareholders).

2. Restitution ($27b+ in damages): Requested this from day one. Refunding the jr preferred share cost at issuance ($33b), minus the divs they received ($5b). This was dismissed by Lamberth in motion for SJ because he ruled that HERA bars this kind of relief (retiring/refunding shares).

3. Loss share value model ($1.6b vs $2.9b in damages): Defendants expert calculated the $1.6b originally during motion for SJ. Plaintiffs only requested the $2.9b AFTER the motion for SJ ruling was issued. $2.9b represents the total market cap value the day prior to NWS, not just the market cap decline which is what $1.6b is, as plaintiffs claimed the NWS zeroed out the economic value of their shares forever. The issue with this one is that Plaintiffs should have requested this immediately in response to the defendants expert $1.6b calculation during the motion for SJ briefings and not AFTER the ruling was issued, but they didn't, so plaintiffs are stuck with the $1.6b number. If Plaintiffs expert immediately calculated it during SJ briefings we would be fighting for $2.9b+interest = $4.6b today.

4. Reliance ($27b+ in damages): Considered a backup to the expectancy model as it shifts the burden of proof to the defendants as to how much value the shares would have lost regardless of the NWS. Again the issue here is the shareholder lawyers only requested this AFTER the motion for SJ ruling came out, and not up front from day one along with expectancy and restitution.

So there you have it, all plaintiffs lawyers are allowed to ask for at this stage is $1.6b (which was calculated by defendants own damage expert, not even our own, because our damage expert and lawyers didnt bother countering that number immediately).

It's still possible if we win $2.6b ($1.6b+interest) and assuming defendants appeal the damages verdict, shareholders will be able to appeal to have all 4 of these higher damage models put back into place, so there are still scenarios where shareholders can receive a lot more than the $2.6b total. It's also possible the jury decides to award plaintiffs more than $2.6b because they feel $2.6b shortchanges the damages caused by the breach of contract, and may agree that $27b was the total value lost as our lawyers are making it a point to repeat over and over so far.

[nagoya1]

Do you have a link to show where you got this from...thanks
FMCC

[Ace Trader]

What the Plaintiffs will show the jury .

Dr Mason never put a number the the damages the plaintiffs are asking for!
If shareholders win this case the Judge has Jury instructions as to damages model and guide lines. ( that’s the point of making sure the Jury understands what the Government stole)

It won’t be $1.6 billion!

It will be from 2012 to 2Q 2022 plus 6% interest and ( NWS reversed ) maybe!

[FFFacts]

Prejudgment interest in Delaware is variable.

[FFFacts]

I made some of these years ago for this very exact scenario.
2012 pre, 2012 post, difference
2.83 1.03 1.8
2.11 0.84 1.27
1.86 0.7 1.16
1.9 0.66 1.24
2.2 0.86 1.34
2.3 0.95 1.35
3.85 1.55 2.3
3.2 1.49 1.71
3.95 1.5 2.45
3.24 1.37 1.87
3.93 1.45 2.48
3.3 1.4 1.9
3.35 1.21 2.14
3 1.4 1.6
3.3 1.35 1.95
3.55 1.6 1.95
3.25 1.4 1.85
3.55 1.3 2.25
3.45 1.36 2.09
3.18 1.42 1.76
3.95 1.25 2.7
2.24 2.24 0
0
3.25 1.33 1.92
3.31 1.4 1.91
3.5 1.42 2.08
3.42 1.4 2.02
3.4 1.3 2.1
3.22 1.15 2.07
3.25 1.31 1.94
1.9 0.8 1.1
1.99 0.91 1.08
1.95 0.85 1.1
2.35 1.05 1.3
2.65 1.27 1.38

[trunkmonk]

This case, if won, is just the beginning of the bigger catch.

[trunkmonk]

GSE stocks not bothering with trial activity. When?

[955]

Interesting strategy. Hamish Hume I presume. He's fought and won against Gov before.

[FFFacts]

If you are part of the class you waived your rights to sue in the future as it relates to Freddie common and preferred, Fannie preferred against the corporations and FHFA. If you did not opt out you are screwed and you are bound to the outcome of this case. The only other case you can join in potentially is the takings case if it gets accepted or the outstanding illegal appointments case.

[Ace Trader]

It’s not a case to
Get a large sum
Of
Money!

It’s a case ( must win) to
Setup other cases and to argue the case against that this court and jury have found harm
To
Shareholders and lost value from the NWS. Then new cars or current can alter there complaint etc etc.

Get the big picture now !!!

[FFFacts]

If you are all expecting a massive payoff from this trial you all will be disappointed (just like always). I have always been on target with my facts and in reading the actual documents. The payoff will be limited if any. Only measurable and quantifiable relief will be share price. As I have stated numerous times before. Read my previous posts that were not deleted and you will see a track record of the facts.

[trunkmonk]

GSEs will not go into receivership in and forward situation. Contrary to fantasies constantly re dreamt up.
Shorts gonna get burned, they are scared.

[Achilles deFlandres]

I agree that the sweep 'dividend' funds are untraceable in a way but there should be some insight because those are funds not from: excise tax, IRS, deficit.....

Other money which may be hard to follow are all the fire sale assets which in my mind probably were worth more than F&F sold them for. Wind down between sweep day and Dec 2017 undoubtedly had sweet deals abound also.

[955]

Excellent! Thanks for posting that! Very helpful.

No one questions that the government, the U.S. Treasury, is entitled to receive the first set of profits that come out of Fannie and Freddie, because it agreed to provide emergency funding in 2008.

This should be questioned too. Emergency funding was never needed. In fact, it was FORCED upon the GSE's by Paulson himself. COERCION! Sealed docs will prove this. I hope plans are in the works to push this issue as well.

[955]

It may be interesting to follow all the "royalty" money enriching current NIH officials

You know what they say, "follow the money". Placing GSE funds in the Treasury general fund has made that more difficult, but not impossible. There needs to be accountability in where all those funds were spent. Anytime there's not, it's a virtual guarantee of fraudulent use. Politicians in general are masters at this, more so with the DEM's and their pet projects. Pelosi is always sneaking mischievous stuff into bills followed by a rush to pass with insufficient time to review. This "mischievous stuff" gets funded from somewhere, highly likely Treasury general fund. This has to stop.

[Ace Trader]

…….BOOM…….

https://dsnews.com/news/04-19-2016/counsels-corner-the-battle-over-gse-profits-is-raging

Things to consider!!!!!!

Those documents seem to suggest that certain government officials knew that Fannie Mae and Freddie Mac were on the verge of making big profits in 2012. Do you think that will have any bearing on how courts handle litigation relating to the Net Worth Sweep?

I think it was helpful to us. I think the more that is unsealed, the better for our side, and I think those specific documents show that Fannie and Freddie and the government and Treasury all knew that they were likely going to become more profitable and that the Net Worth Sweep was going to be very good for Treasury and very bad for private shareholders.

turned out that Fannie and Freddie were even more profitable than expected in August 2012, but they knew they were going to be profitable, and they knew they were not in a "death spiral." That's what those documents proved, and they are very helpful to us and we're very grateful for the ability to present them to the court and to the public.

Plaintiffs can prove ( with those emails) Governments intent to steel miss lead shareholders

…..BOOM……

I take it as a very, very good sign for the class of plaintiffs I represent that the court is spending this much time on it. That is especially true because the defendants had no answer to the points I made about the merits of our breach of contract claims, and the flaws in the district court’s analysis of those claims.


Harm done is by the Government and NWS of August 2013 to those shareholders who brought pre-2008

One thing I would note that came up at the end of the argument is we represent all of the shareholders, but some of them purchased stock in 2008 when Fannie and Freddie were issuing new shares of preferred stock to raise capital at a time when it was clear they were under significant pressure and some distress. Our shareholders relied on the terms of their contractual certificates, as did all investors, and what the government did in 2012 is a direct nullification of those contractual terms.


…….BOOM……

Post NWS August 2012 the Government thinks it can tear up legal contracts of shareholders and write there own! ( The class action) will win this argument!!!! As Hamish Hume won it against the Government in the Barclays case!!!!!

What we're saying is the government can't change the deal four years later so that it takes everything and nullifies the rights of the private shareholders.

Defendants just want to overlook or ignore the plain meaning of the contracts governing the investments made by private shareholders into Fannie Mae and Freddie Mac, as well as the plain meaning of the original contract entered into by the Treasury when the enterprises went into conservatorship

[Achilles deFlandres]

At least in theory, these guys were working for one or the other. It may be interesting to follow all the "royalty" money enriching current NIH officials

[955]

NWS. All those GSE funds were swept by Obama to Treasury general fund as testified by former Treasury Secretary Jacob (Jack) Lew where they were used for pet projects. One of these projects was 5G which has been under accelerated deployment that has bypassed all medical studies regarding the negative effects on human health as testified before Congress and The UN. FCC was directed under Obama to fast track 5G deployment and ignore all the associated risks as testified publicly by FCC Director Wheeler. We're looking at a human extinction level event. Watch before criticizing. Be objective and patient while wading through the technical portions.

[955]

But, is FHFA really acting in the best interest of themselves AND the public? To date, it's all been in the best interest of the agency, period. We all know too well how Gov agencies seek to grow their footprint and expand control well beyond what is considered reasonable in a free and just society. Robbing Peter to pay Paul is never a good idea, especially when deterrence to a crime of the century has not been addressed in the least. Superadd massive Gov cover-up of key evidence under false national security pretenses and stacking of executive Gov positions with severely compromised ex-banking chiefs and you have the makings of the old Soviet communist dictatorship which gets attacked daily in the media. At what point is enough, enough?

[Achilles deFlandres]

This was addressed in court who ruled that the FHFA can act as receiver AND conservator at the same time in the best interest of the agency and the public.

[Ace Trader]

My Gut feeling is he’s setting this up so it is Iron clad verdict.
Hard to appeal or over turn! Read his rulings and reply’s so far. He’s being very by the book and getting to the hard facts etc.