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Deny everything and extend the time...Super...bleh...guess we're falling on Tuesday...
GM is a different scenario. They completely wiped out all the shareholders and did a separate IPO...
It's already very complicated...what effect would then surface when the two companies are merged? Having a CSP and securitizing the loans is very different than merging the GSE's...When you disperse and separate portions of a company into smaller divisional units, does it make it easier or more complex to manage a "too big to fail" company(s)?...it will most likely make it easier to manage...but when you merge 2 "too big to fail" i.e. Bank of America and JPM or Citi with Wells Fargo...it then becomes even more hectic to manage the company(s)...a fine example would be a parent looking after a child vs. an orphanage managing multitude of children...you'll see an extended amount problems develop more so in the orphanage than the parents...now when you compare it to an institution that is divided into sections or regions it would then be comparable to multiple parents managing multiple children rather than a single orphanage managing multiple children. Which do you think would be a wise decision?
How many times must I repeat this to you? You can't do an IPO on an already trading stock even if the commons are wiped out the preferreds would still be trading...just because a class of stock is wiped out, it doesn't mean you can do an IPO...
China is not a communist country anymore...it's not categorized that way atleast...they may not fully operate that way, but it's not...
They make version that changes your underwear?
Too late...
I usually get that comfort sitting on my throne...
Illegal seizure of private property...just like paying property taxes eternally after you have bought the property. Do you pay taxes on food that you digested 10 years ago? How about a car you purchased 5 years ago? No? Then why the hell are you paying property taxes over and over after your mortgage is paid off?
...apparently they do believe in a theory...the A.S.S. theory...
They don't need a new bill for that...just exit conservatorship and recapitalize...quit with the side shows...let the main event begin...
What's with the approval, yet sealing the docs? Just unseal the damn thing...
Related to Ted Olson?
The first sound he'll hear are the fans shouting TOUCHDOWN!!!...GO CHARGERS!!!...I MEAN FANNIE...lol
What happened to all that light at the end of the tunnel comments that he's made...what were those if it weren't teases...surely it wasn't the frosting on the cake...
Those loans that you're describing are met with requirements of Fannie Mae and sold to Fannie Mae which in turn are repacked to investors. These loans are NOT a separate program which doesn't require input from the GSE's. So if those loans are making money, then Fannie Mae and it's shareholders are as well. Same applies with the risk. You can't add a drop of water without affecting the water that's already collected in the bucket.
...said the blind man with a white cane...
Unseal, seal, unseal, seal, unseal, seal, fart, hold and blow up, fart, hold and blow up, fart, hold and blow up...c'mon...make a ruling already I'm diying here holding everything inside...
Makes you wonder what the soldiers are fighting for...
Oh boy...wait for the correction on that one...
...talk about glass half full...what did you do?...dilute the milk with water and make it a full cup?...
What happened to the "GREAT NEWS" by Friday?
...the UFO's will want the shares?...
OK...ok...ok...Leo Gets...lol
Enjoy the revised version...
He expressly acknowledged this in his deposition when he said: “Hell yes, there’s a few things I would have done different! All those c_ck-sucking f_ck_rs from the DOJ and Treasury made me sign that f_ck_n, cockamamie affidavit that was 100% bull-sh_t. They told me this whole f_ck_n thing would go away if we did this and now my a_s is on the hot-seat. They said they’d make sure this bull-sh_t would never come back on me. They said ‘Hey we’re the ones who decides who to go after for perjury, so don’t worry about sh_t’. Well now I have to worry about sh_t! We all f_ck_n knew all along that boatloads of cash were coming back in pronto. No one could f_ck_n believe that congress didn’t end this sh_t already, we had to quickly take matters into our own hands. Everyone was saying if we can’t kill these f_ck_rs now, when will we ever be able to?”
Very possible...Clinton doesn't even like playing golf with Hussein...but something made him do so...he's the one who canceled Glass-Steagall...it's either going to be the GSE's or Hillary as a reason...especially with the Ron Kirk from Gibson Dunn being there...that's a hell of coincidence...so what do have all together...the guy who started the crash...the guy who could possibly change the tide for the GSE's and the guy who's suing the government...what makes all three come together to play golf...makes you think...
replace all the blanks with some profanity that start with C.ck...F.ck...A.s...S.it...and whaaallaaaahhh...you have the entire paragraph
It's not just Greece...it's everyone else standing in the long line that will be affected by Greece's outcome...China, Germany, etc...
Ocwen refinancing bad mortgages they sold to the GSE's that were forced back to Ocwen...just to refinance with HUD? Sounds like they're shuffling papers and reselling to HUD...or transferring GSE's debts/assets to HUD via Ocwen...fishy fishy smell...
Ocwen needs help themselves...lol...
...this better pay off in the end...lol
Must be nice...
DOW is already down tremendously...how much worse can it be by showing the docs...what are they afraid of...DOW being listed on OTC...lol
We've gone back and forth on whether the seal should be approved or denied more so than the actual discovery process...oy vey...make a ruling already...the whole idea was to expedite the process of handing over the docs to the plaintiffs with the intent of going back to unseal...not to be permanently sealed like the conservatorship...
Yahoooooooo!!!
bladedoctor01 • 3 hours ago Flag
10users liked this postsusers disliked this posts0Reply
Another email from Fairholme Funds - August 20, 2015
Dear Shareholder,
Fairholme’s effort to cast light on the government’s unlawful actions in imposing the 2012 “Net Worth Sweep” is accelerating.
In the “Public Redacted Motion for Judicial Notice and Supplementation of the Record” (and two accompanying Appendices, Volume 1 and Volume 2) released yesterday, Fairholme informed the United States Court of Appeals for the District of Columbia Circuit that newly discovered evidence reveals the Defendants have (i) “improperly concealed” documents and (ii) submitted materials to the district court that were “incomplete, misleading, and in important respects, outright false.”
Highlights from Fairholme’s Motion include:
“…this Court should hold that the Net Worth Sweep is facially inconsistent with FHFA’s and Treasury’s statutory authorities and order entry of judgment for Plaintiffs as a matter of law. But, even if that were not so, the district court’s decision must be reversed. As the materials attached to this motion demonstrate, the administrative record submitted by Treasury and the ‘Document Compilation’ and declaration submitted by FHFA in lieu of an administrative record are incomplete, misleading, and, in important respects, outright false . . . the Court must at a minimum remand for further proceedings that account for this newly discovered evidence.” (Pages 1-2)
“…the Court should assure that this case is not decided on the basis of a false factual premise and take judicial notice of the existence of the materials in question.” (Page 4)
“Materials that have come to light in the [Court of Federal Claims] since the district court dismissed the complaint on jurisdictional grounds reveal that the Defendants’ jurisdictional arguments are premised on a mischaracterization of the relevant facts.” (Page 6)
“It is now apparent that those materials, which form the heart of Treasury’s administrative record and FHFA’s document compilation, are in certain respects highly misleading and in others outright false.” (Page 7)
“In light of Ms. McFarland’s testimony, Mr. Ugoletti’s sworn statement that neither agency envisioned recognition of the deferred tax assets is not credible.” (Page 9)
“Those projections, included in a presentation dated June 12, 2012, say that they were based in part on “Grant Thornton analyses” that Treasury omitted from its administrative record . . . And by the time of the Net Worth Sweep, those stale financial projections had proven to be woefully unreliable.” (Page 12)
“The Court should take judicial notice of the fact that these materials exist and that Treasury’s administrative record and FHFA’s document compilation do not accurately represent the true record before the agencies when the Net Worth Sweep was announced.” (Page 14)
“The Court should take judicial notice of the existence of documents demonstrating [REDACTED] which Defendants improperly concealed by submitting manifestly incomplete and misleading materials in the district court.” (Pages 16-17)
“Documents produced in discovery also confirm that the central defense of the Net Worth Sweep—a purported concern that the Companies’ cash dividend payments would exhaust the government funding commitment—was based on a false premise.” (Page 17)
“As the foregoing discussion of the materials attached to this motion demonstrates, Treasury’s administrative record and FHFA’s document compilation and declaration were misleading and, in certain important respects, false, and they obscured the true rationale for the Net Worth Sweep and what the Defendants considered and understood when they imposed it. It is difficult to imagine materials that go more directly [to] the heart of the matter in dispute in this case, and ‘it would be inconsistent with this court’s own equitable obligations . . . to pretend that [the materials] do not exist.’” (Page 19)
We are pleased to share these documents and encourage you to review the facts.
Sincerely,
Investor Relations
Fairholme Funds, Inc.
4400 Biscayne Blvd.
9th Floor
Miami, FL 33137 Less
...very kinky...
Here comes the 34 hitters...