Lehman Brothers Financial SA (LEHNQ)

[JERSEYHAWG]

I would like 5 bucks. Let's see. Lol

Only in America

Hope everyone had a great 4th of July.

[bluebird50]

So you’re here and we’re here… do we get paid?

My gut says yes because you took the effort to post on the worst stock market holiday… say I’m wrong.

It’s good to analyze the surroundings…

Will we get 5.00?? Maybe more..

[stockanalyze]

"JPM wrote 57% of a $83 Trillion market Place."
question is are they going to pay a dime? market says 'no'

[ron_66271]

Not Correct s404.

Lehman Brothers Special Financing Inc a sub of Lehman Brothers Holdings Inc. ("LBHI").

All regarding Swaps and Derivatives insurance that the Trustees is required to provide to protect the Bonds, or did the derivative contract writer fail to cover the ABS’s claims loss?

2008 was a Derivative Market Meltdown caused by the Community Reinvestment Act forcing banks to make very risky loans that the banks didn’t want to make.

CRA; A legislation crime.


JPM wrote 57% of a $83 Trillion market Place.
I have presented the math regarding the losses JPM needed to cover.

What JPM, BofA, WF…, did was slow pay the Swaps and deplete the cash flow of Swaps recipients like LB, WaMu, F&F, and Bear Stearns and forced them into bankruptcy, or a cheep sale.
Therefore throwing the Swaps payments into confusion.

LIBOR!



Ron

[s404n1tn0cc]

Just waiting for the Tears to stop HAHAHAH UGH!!!

[s404n1tn0cc]

I found it ....they recognize Sept 23 2008 as the official recognition of the bankruptcy and not Sept 15 2008 and the Paper work said Sept 22 2008
But the dockets says 11/04/11 the day it was recorded. Back dating is not allowed in court.
Doc
21655 Check it out at EPIQ See page 16
https://document.epiq11.com/document/getdocumentsbydocket/?docketId=324828&projectCode=LBH&docketNumber=21655&source=DM

To be hand delivered or delivered by certified or registered mail return receipt requested)
NOTICE OF EARLY TERMINATION OF SWAP TRANSACTIONS
(RESTRUCTURED ASSET CERTIFICATES WITH ENHANCED
RETURNS, SERIES 2006-20A T)
TO:
Lehman Brothers Special Financing Inc. ("LBSFI")
745 Seventh Avenue
New York, New York 10019
Attention: Transaction Management
CC:
Lehman Brothers Holdings Inc. ("LBHI")
745 Seventh Avenue
New York, New York 10019
Attention: Swap Notice Generation
RE: MASTER SWAP AGREEMENT DATED AS OF DECEMBER 8, 2006 (the
"Agreement") with RESTRUCTURED ASSET CERTIFICATES WITH ENHANCED
RETURNS, SERIES 2006-20A T TRUST CUSIP 76126CVD1 *
An Event of Default and Tennination Event has occurred and is continuing under Section
5 of the above-referenced Interest Swap Transaction in that Lehman Brothers Holding
Inc., the Credit Support Provider in relation to LBSFI, has íiled, in the United States
Bankrptcy Court for the Southern District of New York, a Voluntary Petition under
Chapter 11 of the U.S. Bankrptcy Code.
We hereby designate September 23, 2008 (but not earlier than the date this Notice is
effective) as the Early Termination Date in respect of all outstanding Transactions under
the above Agreement.
RESTRUCTURED ASSET CERTIFICATES WITH
ENHANCED RETURNS, SERIES 2006-20AT TRUST
U.S. Bank National Association, not in its individual
capacity, but solely as trustee of the above trst
Dated: September22 2008
*Trustee is not responsible for selection or use of CUSIP numbers; they are included solely for holder convenience. . NY168387.3 ~

Can you say LAW Suit note the designation date Sept 23 2008 and the Official sign/ send date
Sept 22 2008!! Got'em !!!! Don't pass go don't Collect $200.00 go directly to Jail !!!#$%^

[s404n1tn0cc]

Yup your Right. Lot of Legal Hocus pocus.
Just a note... US Bank Trustee. If you read the Arguement to the planned confirmation. They didn't Recongnize the Backruptcy until
Days later when the Markets moved in their favor. Then they recognized it. We're talking a week to
a week and a few days after. .

[mates]

You are a 100% right

[JC Pinny]

That MM (Market Maker) code signal to stretch this out for as long as possible to avoid making retailers millionaires lmao :)

[JJPK]

Volume on lhhmq 666.
Doesn’t that say it?

[4Duxs]

All four CT’s traded in the last 10 days.
Have a Happy 4th everyone. Say a thanks to the folks that risked everything so that we can have the life we do. Cheers

[stockanalyze]

when do you see they see money from these contracts? from jpm?

[The Godfather]

You are correct, Ron! Everything you stated in this post.

[goodietime]

Filed Jun 28 2024
Chapter 11 Monthly Operating Report for the Month Ending: 05/31/2024 Filed by Garrett A. Fail on behalf of Lehman Brothers Holdings Inc.. (Fail, Garrett)
Debtor 08-13555 Lehman Brothers Holdings Inc.
View on Website

https://dm.epiq11.com/case/lbh/dockets/61672?debtorId=1906

[cottonisking]

🎂 Lehman Brothers' Bankruptcy Sixteenth Birthday is on September 15, 2024. The CT Holders' back interest is a variable asset, in addition to the fixed $25 per share CT Holders' principal or liquidation amount.

[autotel]

The IRS argued they were the experts and they should get to decide what is income.

[autotel]

If I remember right the rule that discharged debit rule was created in 1993. They used Chevron as the reason they could create it.

[autotel]

The IRS lost most of their power to interpet the the tax code. Chevron gave federal agency unlimited power to expand what is income. The can now only use what the law says.

[autotel]

The IRS doesn't get to decide its income in a bankruptcy. The bankruptcy judge gets to. Solyndra is a good example. The is no law that says discharged debit is income just a IRS rule.

[s404n1tn0cc]

Soo much we Dont know. I Use youtbe for Trade education. Learning curve is shorter. IMO

[s404n1tn0cc]

Continued...

It's important to clarify that Chevron deference likely didn't directly determine that discharged debt is considered taxable income. Here's why:

Tax Code and Regulations: The Internal Revenue Code (IRC) defines taxable income and sets the framework for taxation. The IRS issues regulations to interpret the code and provide guidance.
Chevron Deference: This legal principle applies when courts review interpretations of ambiguous laws by federal agencies like the IRS. If a relevant IRS regulation regarding discharged debt existed and was challenged in court, Chevron deference might have come into play.
Possible Scenario:

Let's say the IRS issued a regulation stating that discharged debt generally counts as taxable income.
If a taxpayer challenged this regulation in court, arguing the IRC didn't explicitly mention discharged debt as income, Chevron deference could be relevant.
Under Chevron, the court would likely defer to the IRS regulation as long as it found a reasonable basis for considering discharged debt as income within the framework of the IRC.
Recent Development:

[s404n1tn0cc]

HAHAH
Realy.. I hope your right!!
but I Thought...


The case of Loper Bright Enterprises v. Raimondo is a landmark Supreme Court decision issued on June 28, 2024, that has significant implications for Chevron deference. Here's a breakdown:

What is Chevron deference?

Chevron deference was a legal principle established in the 1984 case Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc. It gave courts some deference to how federal agencies interpret the laws they're tasked with enforcing. Under Chevron, courts would generally defer to an agency's interpretation as long as it was reasonable and not inconsistent with the clear intent of Congress.

What did Loper Bright decide?

The Supreme Court, in a 6-3 decision, overturned Chevron deference. The Court argued that the plain text of the Administrative Procedure Act (APA) requires courts to exercise their independent judgment when reviewing agency interpretations of law. They found that Chevron deference wasn't required by the APA and had become problematic in practice.

What does this mean?

The Loper Bright decision means that courts will now scrutinize agency interpretations of law more closely. Agencies will no longer be able to rely on Chevron deference to shield their interpretations from judicial review. This could lead to:

More litigation: Businesses and individuals may be more likely to challenge agency actions if they believe the agency's interpretation of the law is unreasonable.
Increased uncertainty: With less deference to agencies, there might be more uncertainty about how certain laws will be enforced.
Potentially more power for Congress: If courts are less likely to defer to agencies, Congress might have a stronger role in shaping how laws are implemented.
Overall, Loper Bright is a major shift in the balance of power between courts, agencies, and Congress. The long-term effects of this decision are still unfolding, but it's clear that it will have a significant impact on how federal agencies operate and how the law is interpreted and enforced.
....IMO

Summary
Deference applies in cases of judicial review, i.e., when a plaintiff accuses an agency of unlawful
action. In such cases, the court must decide whether the agency was authorized to act as it did.
However, Congress often passes broadly worded legislation that requires agencies to fill in the
details of rule-making and enforcement. The degree of interpretation is a direct function of
lawmakers’ imprecision in crafting statutory language.
Taxes are Taxes Yes/ No?? Or is your stance of interpretation only??.

[stockanalyze]

what is the timeline on this that jpm ponies up?

[autotel]

We won Loper Bright Enterprise vs Raimondo. That means discharged debt is no longer taxable income. The NOLs are back in play.

[toogoodfella]

RE: Lehman’s only fell into bankruptcy because JPM ran out of money to pay Lehman’s on the evening of September 14, 2008.
——//——-//—


USE YOUR SECOND GRADE MATH.

There is still “130 BILLION”unpaid debt and you are blaming JPM.

[JERSEYHAWG]

Thank you Ron

2025

[ron_66271]

Paying all Legal Fees is Proof of Solvency.

Yes Lehman’s is a going concern.

Lehman’s only fell into bankruptcy because JPM ran out of money to pay Lehman’s on the evening of September 14, 2008.

JPM was and is bankrupt.
Too many derivative contracts exposure to cover. Back in 2008, JPM derivatives contracts exposure to cover losses was $700 Billion.

Please read my posting history.
I have explained it before. I mainly post on IHUB COOP MB.

I know the history.



Ron

[cottonisking]

All together, expenses for the Chapter 11 and SIPA proceedings add up to $7.26 billion.

Although the Chapter 11 proceedings are set to continue for some time, our figures include expected estimates for the remaining period of resolution, as reported by the Lehman debtors. Moreover, the SIPA resolution is essentially complete. Thus, the expenses reported in the chart above are likely a fair estimate of the total expenses from these resolutions. However, expenses for resolving other Lehman entities, such as its non-U.S. affiliates, are not available. As a result, our estimates should be viewed as a lower bound on the total expenses associated with Lehman’s resolution.

[JERSEYHAWG]

2025

Correct ?

[newflow]

Just $6 Billion in Fee thru 2019.
https://libertystreeteconomics.newyorkfed.org/2019/01/lehmans-bankruptcy-expenses/
Whats the value of assets?. Come on estates, resurrect soon.

[ron_66271]

The Derivative Market Needs to Pay Up.

I find it interesting that I posted two related posts on COOP, and on LEHNQ, FNMA regarding the value of investments in ABS/RMBS.
I received no relevant response!

The point is that the performing ABS/RMBS make all four corporations solvent.
All four are awaiting the Derivative insurance contracts to pay up.
Resolution releases the accumulation of funds with interest for the ABS/RMBS.



Ron

[real777mellon]

Nvidia's accounting is really- well. Your wife can look into that. All the best.

[ron_66271]

Asset Backed Securities are Asset Backed!

Example;
The WMB Notes were backed by $26 Billion in assets to cover ~$13 Billion in Bonds.

Using the 11.9% loss rate established by Globic is;
$26B x (1-.119) = $22.906B to cover the WMB Covered Notes. The Notes assets paid for themselves.
Hence; Covered!
Job DONE!

Similar theme for the Series R.
I have already explained/proven the Series R performance payments.

The same thing for Lehman’s Capital Trusts and many other asset backed Preferred's.


Or prove me wrong! 🤪



Ron

[ron_66271]

Retirement Funds Invest in Safe Cash Flow.

Lehman’s is a Investment Bank for safe investors.

ABS/RMBS were/are outstanding insured cash flow investments.

LIBOR litigation is all about back settling the unpaid derivatives insurance contracts from 2008 by the Big Banks.


Filed today
4081
“NOTICE OF VOLUNTARY DISMISSAL PURSUANT TO FED. R. CIV. P. 41(a)(1)(A)(i). Pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, Procedure, Plaintiffs National Asbestos Workers Pension Fund, Pension Trust Fund for Operating Engineers, Hawaii Annuity Trust Fund for Operating Engineers, and Operative Plasterers' and Cement Masons' International Association Employees' Trust Fund (collectively, the "Plaintiffs"), by and through their undersigned attorneys, hereby dismiss this action in the above-captioned matter Nat'l Asbestos Workers Pension Fund v. Bank of Am. Corp., No. 1:15-cv-01334-NRB (S.D.N.Y.), without prejudice, against Defendants Bank of America Corporation; Bank of America, N.A.; Bank of Tokyo-Mitsubishi UFJ Ltd.; Barclays Bank plc; Barclays Capital (Cayman) Limited; Citigroup Inc.; Citibank, N.A.; Coperative Centrale Raiffeisen-Boerenleenbank, B.A.; Credit Suisse Group AG; Deutsche Bank AG; HSBC Holdings plc; HSBC Bank plc; JPMorgan Chase & Co.; JPMorgan Chase Bank, N.A.; Royal Bank of Canada; The Norinchukin Bank; The Royal Bank of Scotland Group plc; Societe Generale, S.A.; and UBS AG. Plaintiffs reserve all rights to make claims as class members in any future class settlements in the above-captioned MDL litigation as appropriate. So ordered., (Bank of Tokyo-Mitsubishi UJF Ltd., Barclays Bank Plc, Barclays Capital (Cayman) Limited, Barclays Capital (Cayman) Limited, Citibank, N.A., Citigroup, Inc., Cooperatieve Central Raiffseisen-Boerenleenbank, B.A., Credit Suisse Group AG, Deutsche Bank AG, HSBC Bank PLC, HSBC Holdings plc, JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Royal Bank of Canada, Societe Generale, S.A., The Norinchukin Bank, The Royal Bank of Scotland Group PLC, UBS AG, UBS AG, Bank of America Corporation and Bank of America, N.A. terminated.) (Signed by Judge Naomi Reice Buchwald on 6/24/24) Filed In Associated Cases: 1:11-md-02262-NRB, 1:15-cv-01334-NRB”

https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262



Ron

[JERSEYHAWG]

Mr Mellon. Honest. I don't read anything about this.

I can wait for the end.

What has me captivated is reading a bit about Nvidia. How the heck my wife was so fortunate to get a bunch of this years ago at 40 bucks ps. I swear I just laugh. Boggles my mind.
It just split to.......

She gets pissed off at me. The ONLY DOG in her Holdings is Lehman. Yep, your right. Years ago, I told her to buy some. You can't loose....🤣

Anyway, you post. Some right smart stuff. See you at the holdings window, bust or win.

Be well

[cottonisking]

🤑🤑🤑 Irrelevant, because old men and young women are hard to stop. Example: The old men that are grabbing available cash in this Lehman Brothers' Bankruptcy, will not stop or read any reports.

[real777mellon]

I bet the value of all the Repo 105 collateral being heavily Fannie Mae Freddie Mac and FHLB securities will have something to do with a delayed pending transaction that will be 50-100+ M in assets/cash that "appears" from off-the-balance sheet at one of the repo 105 banks LBIE used (UBS, Barclays mostly) and then just sorta move from there. Look at the boards with the most attention here in banking and finance. Also thank god this place isn't Fannie Mae boards. There's a lot of suspect negging there. China and other actors had to get here from Reddit and "X" eventually right? Just ruin all the great discussion boards for Gen X to Millennials like myself? :/

https://www.jenner.com/en/news-insights/news/lehman-brothers-holdings-inc-chapter-11-proceedings-examiner-s-report

If you wanna read 336 pages (you prob know enough) it'll get you thru a few more boring weeks. I mean months. Oh well. I'd be doubling down but have no access to Canada brokerage account now. Fooey.

[JERSEYHAWG]

HAHAHA

thanks Mellon. I needed that.one of the funniest. And Chuck Heston, can't beat him.

Be good young man.

See you at the grand finale. 😀

[real777mellon]

[cottonisking]

Cold Heart (PNAU Remix) Lyrics
[Intro]
(Oh)
(Oh)
(You're my cold heart)
(Oh)
(Oh)

[Verse: Elton John]
It's a human sign
When things go wrong
When the scent of her lingers
And temptation's strong
[Pre-Chorus: Elton John]
Cold, cold heart
Hardened by you (Oh)
Some things lookin' better, baby
Just passin' through (No, no, no, no, no)

[Chorus: Dua Lipa with Elton John]
And I think it's gonna be a long, long time
'Til touchdown brings me 'round again to find
I'm not the man they think I am at home
Oh no, no, no
And this is what I should have said
Well, I thought it, but I kept it hid

[Pre-Chorus: Elton John]
Cold, cold heart
Hardened by you (Oh)
Some things lookin' better, baby
Just passin' through (No, no, no, no, no)

[Chorus: Dua Lipa with Elton John]
And I think it's gonna be a long, long time
'Til touchdown brings me 'round again to find
I'm not the man they think I am at home
Oh no, no, no (No, no, no, no, no)
And this is what I should have said
Well, I thought it, but I kept it hid
[Pre-Chorus: Elton John]
Cold, cold heart (Oh)
Hardened by you
Some things lookin' better, baby (Oh)
Just passin' through (No, no, no, no, no)

[Chorus: Dua Lipa]
And I think it's gonna be a long, long time
'Til touchdown brings me 'round again to find
I'm not the man they think I am at home
Oh no, no, no (No, no, no, no, no)
And this is what I should have said
(And I think it's gonna be a long, long time)
('Til touchdown brings me 'round again to find)
Well, I thought it, but I kept it hid
(I'm not the man they think I am at home)
(Oh, no, no, no) (No, no, no, no, no)

[Outro]
Shoorah (Oh)
Shoorah
Shoorah (Oh)
Shoorah
(No, no, no, no, no)

[JERSEYHAWG]

This is the best we can do?

Holy smokes.

Only 6 months to go. Lol

Enjoy summer.

[real777mellon]

Makes sense. LBIE has to get running and LBHI to get back whatever $ or government/treasury/or agencies (Freddie Mac, Fannie Mae, FHLB System securities) ("govt securities") that may be stuck in the CH11 filing freeze which came to be filed after the UK subsidiaries (LBIE I am assuming first) claimed it would not have the money it needed to get through the day because it hear that LBHI was filing CH 11. Or so the story goes.

In an email Aug 7, 2008 LBIE's Counterparty would no longer accept Freddie Mac securities as collateral - Lehman calling them "sticky" meaning they were harder to sell. Sep 7, 2008 - on a Sunday Freddie Mac which had been buying subprimes since 1995 was taken into conservatorship with Fannie Mae by the government. I am assuming that caused a jam in the Repo 105 process where counterparties in the LBIE part were having a hard time accepting the assets from Fannie and Freddie (securities) as collateral because of prices falling. So that left maybe the cash calls as I understand whereas I just think the two things (Our CH 11 unfreezing the pay owed of our PFD quarterly cash since 2008 and min liquidation value of 25$ for these PFD's would be triggered by a release of GSE's - Value of the GSE and NYSE listing maybe moving the Repo 105 stuck process forward and a ton ($50B?) of movement of Treasuries, Fannie Mae, or FHLB System securties to move from the counterparty to the cash owed to LBIE in the txn and then consolidating onto the LBHI bal sheet giving us maybe $50B in cash to move fwd? I'd if that makes sense I will share some info here. I think we are tied to revaluation of govt agency securties in the conservatorship that need to be released by Trump admin most likely and he did promise to do so - so maybe the value of the assets stuck i the repo 105 and CH 11 bankruptcy of the parent after the UK LBIE pulled into administration is the answer.

I'll look at it more later this is the examiners report I read I gotta go over it more:



Maybe there's some agency securities from Fannie Mae and Freddie Mac LBIE can sell off if they exit conservatorship to give us a good deal of money notice Sep7 2008 the 90+% drop in value of commons, maybe they become the way to earn billions to close these final administrations and close CH 11.



With the CH 11 of LBSF closed I think the freeze and hidden off-balance sheet assets/cash are in the counterparty that LBIE used and didn't have the cash to get through the day bc it heart LBHI was going to file CH 11, so they may have not done their daily LBHI LBIE dealings then LBIE assets to Counterparty and counterparty to UK Cash operation - it's plausible.

I just know if the last week Repo 105 was being used then that leaves just Treasuries and FHLB System securities as usable for collateral for Repo 105.

We shall see. FHLB overseer and Fannie and Freddie's conservatorship manager is the FHFA. Trump can just fire the Biden admin FHFA Director and staff who are socialists and will not release anything - whereas Trump wrote a letter 11/11/2021 saying his intention to fire his FHFA Director Day 1 in Term 1 but he had been blocked until Sep 2019 and since then he directed his FHFA Director to get the GSEs (agencies) ready for the end of conservatorship.

It's def my bet that these are all tied together and if the securities from Fannie and Freddie on the books of LBHI and LBIE or at counterparties off the books are suddenly valued at 10's 100's of $ again as both companies are strong revenue, strong liquidity producers, demand for their profit mechanism selling MBS is high -> we could be stuck because of those securities in the Repo 105 operation.

[newflow]

LBIE -Administrators mentioned this https://www.pwc.co.uk/business-recovery/administrations/lehman/lbie-31st-progress-report.pdf
Page 3
"The administrators are pursuing the objective of rescuing the company as a going concern,"
So if they put back LBIE up and running, probably LBIE's parent LBHI will also be up and running with all its engines.IMO.

[stockanalyze]

from 2010 ? what are you trying to say?

[joyceschoice]

I'm almost afraid to post this link from June 17 2024.

"Deutsche Bank sues Finepoint Capital for claims against Lehman Brothers’ bankruptcy estate

Maria Nikolova 0 Comments June 17, 2024

deutsche_bank
INSTITUTIONAL NEWS

Deutsche Bank sues Finepoint Capital for claims against Lehman Brothers’ bankruptcy estate
Maria Nikolova 0 Comments June 17, 2024


Deutsche Bank AG, London Branch has filed a Complaint against Finepoint Capital LP, Warbler Run I, LLC, and Warbler Run II, LLC.

The document, seen by FX News Group, was submitted on June 14, 2024, at the New York Southern District Court.

This is an action for breach of contract and breach of the implied covenant of good faith and fair dealing. The parties in this action entered into a trade nearly six years ago in which the defendants agreed to acquire from Deutsche Bank claims against the bankruptcy estate of Lehman Brothers Holdings, Inc., with a face amount of $906 million, in return for a purchase price of approximately $14.6 million.
Deutsche Bank argues that, for more than five years, the defendants have frustrated the parties’ ability to settle the Trade by unreasonably refusing to execute an assignment of claim unless it includes either:

i. literally impossible representations and warranties, which would be breached the moment the assignment was
signed, which is obviously not something Deutsche Bank agreed to when it entered into the Trade; or

ii. idiosyncratic indemnification language that goes well beyond what the parties agreed to when they agreed to the
Trade. " (excerpt only - article continues)

https://fxnewsgroup.com/forex-news/institutional/deutsche-bank-sues-finepoint-capital-for-claims-against-lehman-brothers-bankruptcy-estate/

Its worth the read though too much to copy whole here. Just reading this makes me realize why its taking so very, very, very long to end.

[real777mellon]

I have a lot to read but glimpsed and respect the fact you dig into old news too that have new takes thru time I have missed myself. Can you tell me what your takeaways and thoughts are? I will always do the same.

And I will finish reading shortly! Thank you!

[newflow]

ENJOY!!!
https://economictimes.indiatimes.com/lehman-brothers-resurrected-well-almost/articleshow/6562620.cms?from=mdr

[cottonisking]

https://www.forexfactory.com/news/1289553-deutsche-bank-sues-finepoint-capital-for-claims-against

[real777mellon]

We can pass the time and talk about how innovative and legal our accounting was as LBHI's subsidiary since they own 100% of each DST issued common stock while we rag on $NVDA pulling an Enron but in a dumber way easier to cook the books by incest with itself rather than the old mark-to-market banking approval they got at Enron to print their own cash they expected to earn over the life of a deal immediately upon signing the contract. If Enron got away with it I'd say good for you guys.

$NVDA is just lending its subsidiary shells shares and thendoing a little double counting of their accounts receivable. Hehe.

[real777mellon]

FMCC doesn't have creditors because it is the third largest public company in the USA by asset value.
Best not to speculate on the conservatorship, there is plenty of info to go out and realize what's gonna play out when but also a lot of charlatans trying to charge for financial advice. So I suggest you find your own way like me. And I don't go for little sis, $FNMA makes more revenues of bundling MBS it sells secondary market. It's also #1 size public company by assets $4.3 Trillion and 1.2 Trillion more than #2 JPMorgan Chase