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Thanks Guido - it would be good to get a clarification on remaining paths forward.
Thanks for the correction.
Thanks for the correction.
Mike Kelly Suit Dismissed.
https://www.glenbradford.com/2024/05/kelly-v-u-s-5/
Fisher was denied En Banc.
In Kelly the case was moved from a DJT Appointee to JB Appointee
Really interesting kip128932156. Is there any truth to this? Meridith Whitney is a long time respected financial sector analyst but I dont have any idea about what she is doing now? FMCC going into the HELOC market sounds kind of extraordinary - any background for this?
Interesting JOoaOky.
Does anyone expect a settlement for Lamberth? There is no need for one - just let it play out and collect the post judgement interest?
Hi Mellon, This is one of the most thoughtful posts that I have seen. Thanks! The Lehman reference may or may not be relevant but appreciate the discussion and insight. Thank you for taking the time to post these insights.
Hi real777melon - where is Jami now?
Really interesting real777mellon - did you say that common is going to be over $ 10 or JPS over $ 10 pre election? Exactly right on Lehman and FASB 157 - wasn't it Einhorn that was pushing this? He was a GS guy too - right?
It would be a great estate planning move for John Paulson?
real777mellon is the Real Deal! Lots of interesting insights and knowledge!
Hi Imbellish. Thanks for the link. It looks like they are challenging whether or not the plaintiffs were properly certified as a class and entitled to bring a class action?
Mr Market has a choice - believe the Analysis of Whalen or Ackman? Lets see what Mr. Market decides.
Thanks Imbellish - Wow - that is going way back!! It would seem that no one would have standing for a takings clause claim because they killed all of Sejanus family? Interesting that it caused a financial crisis - probably more interesting about how well it was documented.
Good Points DaJester
What is the best case scenario for common shareholders in your opinion? What does the UST have to do to make that happen?
My concern is that the SPS is on the books of the UST so what has to happen to result in a complete writedown? The only catalyst I can see is if Bryndon Fisher gets CERT and he wins? Do you have another way forward?
As you know I hope Brydon Fisher is successful in his Derivative Suit but he will need Cert from SCOTUS and win - very low probability at this point. Otherwise, I think the warrants get exercised and the cram down doesn't happen, so I think your price range is very reasonable just a guestimate of course. I would hope that there would be multiple expansion once the common shares start to be bought by index funds and institutional index tracker funds since the GSEs will have relatively large market capitalizations.
Great points Guido! Thanks again for everything you do.
Thanks for sharing and the perspectives imbellish and Fanatical Infidel. It looks like the end of Bhatti and Collins on remand - correct? I thought the opinion from the Collins panel was actually constructive but this opinion is quite dismissive as you point out and is really the continuation of the Alice in Wonderland parody that the District Court incorporated in its opinion. We are getting toward the end of the outstanding Litigation - it will be interesting to see if Agenda 47 will include a housing initiative and what role the GSEs and possible exit would play with any proposed Agenda47 initiative.?
Wishing the best to all GSE Shareholders. Mr. Market has given everyone the opportunity to rebalance if they want to.
Great Posts Guido!! - dont know if Hank and his pals were commies but they definitively seem like DC swamp RINOS who said one thing and did another while ripping off unsuspecting public JPS investors who believed the GSEs were solvent when the GSEs sold billions of newly issued JPS during the spring of 2008.
Here is the For Your Eyes Memo from the NEC to the UST:
https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-03-08_Treasury_Email_from_Hason_Thomas_to_Robert_Steel_Re_Source_document_for_Barrons_article_on_FNM.pdf
wishing all GSE shareholders continued success - common and JPS! Lets break $ 2 on FNMA!
Thanks for all your insights real777mellon and Wings. Real777mellon please keep up your contributions - good foundation for discussions that possibly could impact policy for Exit.
Thanks chessmaster315!
Thank you Guido - you have been there in thick and thin. Hope you are making a boat load - you deserve it!!!
The SCOTUS CFPB case will determine a lot of that. It was one of the first cases heard - will know no later that June 30 but could be earlier.
Who owns more money as a result of a legal judgement - DJT or the USG/GSE/FHFA? Maybe the FHFA can have the GSEs issue a couple CRTs to fund a bond for the appeal?
Thanks Chessmaster - just to be clear FNMA and FMCC JPS and FMCC Common will accrue post judgement interest now? Will the FHFA have to post a bond?
Not necessarily so - its role could be rolled into the Fed with a lot less people. All the regulatory and capital adequacy functions could come under the FSOC structure - probably better oversight overall because it would discourage politization of the FHFA functions and the urge to use the GSEs and FHLBs as piggy banks.
Thanks for the reply No Name! Just to be clear I did not intend to insinuate that you and GB are the same person - I was just wondering if you still believe the GSE common is going to 2 cents or was it ten cents? Have you raised your price target?
Thanks Glenn - your website is a great asset for FNMA shareholders - you know it is never too late to say that you were wrong to advocate for 10 cents for GSE Common? You really could be and should be a Fanniegate Hero. Now is the time to say that the commons and the JPS were screwed by the USG and that there should not be a cramdown. Just let the market take care of the outcomes but stay on the side of fairness and the protection of private property rights. Come on Glenn - stand up for what is right - the time is now!.
Thanks Imbellish and Eternal Patience.
Good Point skeptic7 - on the other hand the attorneys want to get paid so dont you think they will press Lamberth to get a final judgement? Does anyone know when the FMCC JPS and Common shareholders will start accruing interest - if at all- under Virginia law?
Thanks Stockanalyze - forgot about the No Name - GB connection. Where is No Name anyhow ? He is a big time bankruptcy guy with all the answers - maybe he has a reason why the stock went up 8 times his long term target of 2 cents - just in one day. It is over 80 times the No Name target! No Name - what do you think?
Is this why the stock is up so much - Costco Hot Dog prices will fight inflation?
https://www.msn.com/en-us/money/companies/a-top-costco-executive-just-gave-an-update-on-the-fate-of-the-1-50-hot-dog-and-soda-combo/ar-BB1k6iY3?ocid=entnewsntp&pc=U531&cvid=5865dbe28c434e82a7bf6aa2a2157ffb&ei=18
Hi Glen, Dont you think the stock is trading really well? It is up more today than your price target of 10 cents. Any thoughts on why it is trading so well?
Hi DCBill - do you expect an Agenda47 Housing Policy? If so seems like a good place to pick up GSE reform?
New Freddie Mac CEO wrote a book:
https://www.mikehut.com/irreconcilable-politics
Hi LuLeVan, Maybe we start with the 2019 US Treasury Report as supplemented by the 2021 Letter Agreement?
Here is the 2021 Letter Agreement:
https://home.treasury.gov/news/press-releases/sm1236
Hi LuLeVan - good discussion. Do you think a new DJT Admin would deviate from the plans laid out in the last one? It would seem that DJT would be more populous in his orientation this time - especially after his ex NEC Director who was the COO at GS abandoned him- not sure if there is a lot of love for the Wall Street establishment?
Here are the last plans: https://home.treasury.gov/system/files/136/Treasury-Housing-Finance-Reform-Plan.pdf
Does anyone know if Agenda47 has anything on GSE reform?