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US Court of Federal Claims
United States Court of Federal Claims (COFC)
CIVIL DOCKET FOR CASE #: 1:13-cv-00465-MMS
Just filed about 20 minutes ago....SEALED...so we can't read it.
06/12/2015 162 **SEALED** MOTION to Remove the "Protected Information" Designations from Depositions , filed by All Plaintiffs.Response due by 6/29/2015. (Attachments: # 1 Appendix)(Cooper, Charles) (Entered: 06/12/2015)
cmdr....fyi, same here. must be there system....
This is exactly the conversation I was trying to have with Navycmdr a few weeks back when AIG starting moving up (to his exuberance) for no real reason. I was trying to figure out if it could be related to a leak about which way Judge Wheeler was deciding in the Starr case. His response to me was..."you're over-thinking it". lol
I guess the folks at Credit Suisse Group AG are "over-thinking it" too. lol
You go Mr. Brown!
Link to today's CoBH&UA hearing....
http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.LiveStream
Mostly been hearing June-July. My best guess is middle-to-end of June.
When asked to pick a date, guessing Sweeney trial will be completely over on May 12, 2017, with victory of course.
Ah, Bill just answered my question. It's the first. FnF represent 3% of portfolio.
I missed it....is their stake over 10% of outstanding shares OR over 10% of their total port. capital? If the second, that reps a major increase in their position.
you go hvpatel....Bill talking about you.
Fannie and Freddie "are here to stay".
Fannie Mae's Last Stand
I was recently reminded of this expose' I had once read more than a few years back (link above). Some here may be familiar with it, but I'm guessing plenty are not as many haven't been around long enough, from when it was written.
Although lengthy, it's a amazing read to educate oneself on the back story of FnF and the real events (and players) that took place until 2009.
It includes numerous quotes, many from our own Bill Maloni (DCBill).
I highly recommend reading it if you have the time. It can certainly help make sense of trying to read between the lines of some of the FnF "information" we receive here on a daily basis.
Dollars, thanks for providing these timely updates. As they used to say not so long ago...U da man!
Thanks hvpatel. Looks like the last bank in FHFA's (FnF) crosshairs is RBS and is scheduled for trial next year.
I hope with their connection to this lose, RBS decides to settle soon like the other 16 banks. My opinion has always been that getting all of the bank settlements past us has been a big delay in FHFA letting FnF move forward. Once RBS is done we shall see I guess.
Edinburgh-based RBS was sued separately by FHFA in federal court in Connecticut for selling $32 billion of its own mortgage-backed securities to Fannie Mae and Freddie Mac. That case is scheduled for trial next year.
Now-Now, you should know by now that only the big banks get the "free money" because, you know, they are our buddies, say the the guys calling the shots...
Shhhhh....it wasn't a "loan", remember?....wink, wink...
My bet is they are tied to Ackman somehow. Most likely he has convinced a HF buddy to jump in. Telling his friends, look my avg. cost was $2.29 and I am willing to buy Swaps at $3.53 which equals an average $2.90 price point, between the two. So, $2.90 is a great/safe place to enter. Just my 2 cents...
What I find interesting is that almost all of the big trades (say over 50K shares) this week have been right at or around the $2.90 mark. It's interesting because these started happening right after Ackman's SWAPs expired on 4/30. His Swap was for a price target of $3.53 and his average Fannie share purchase price is $2.29. The $2.90 range is exactly right in the middle. Not sure if there is a meaning/correlation behind this, but I wouldn't be surprised if it's connected in some way. Hmmmm....
Thanks Dollars1. Good to have a timeline at least.
IIRC, about the same time as the one that did yesterday too.
yes, typo...so used to dealing in the B word with FnF as well as Ackman.
Good stuff hvpatel....also to note, of the $60 billion that The Sohn Investment Foundation has raised over the years for Pediatric Cancer, Bill Ackman is directly responsible for $26 billion of that. And the Media makes him out to be the bad guy....they love a great good vs. evil storyline for sure.
Ackman scheduled to go on at 5:20....looks more like 5:40ish now.
Just in from Twitter...
Carleton English ?@carletonenglish · 2m2 minutes ago
And...David Tepper yields his remaining time to Bill Ackman. #Sohn2015
I wonder if that was an inside joke to Ackman blasting our Gov't/politicians for the way they have treated FnF in his upcoming presentation(hopefully)?
There was a 500k FNMA share trade earlier today. Maybe 6-10 trades in 100K-500k share range so far today. MMs playing games or something is up...
Thanks Dollars1....from twitter I see.
Here's the link... Value Walk twitter
I'm thinking late May - June before we hear anything.
Hvpatel, I too follow Ackman very closely and that's just about what I come up with regarding his FnF position. My hope is he's (as they say) "really got the bit between his teeth on this one"....just as he does with his HLF bet. Although I've been long FnF well before him, I certainly don't mind riding along while he helps lead us to the finish line. That victory lap will be sweet, for sure!
Good to hear Cmdr. and thanks for your service to our country. Know lots of great folks in your field.
If nothing else, at least I understand your logic (or lack there of) now....thanks. :)
I'm not a trader like yourself, I'm a long. I only come here looking to add pieces to the grand FnF puzzle through analyzing information that's available, that's all.
It's all about long-term risk/reward for me and evaluating that on a regular basis.
I completely understand what a Starr win would mean to our cause (FnF shareholders). Maybe your not following my logic or I'm not following yours....
Based on your previous post of AIG being up $1.08 per share on 2 million shares traded and an added smiley face I can only assume you are happy about that as it relates to FnF. That's the part I don't understand. If we are using AIG's stock movement to help us understand what way the Starr case may go (i.e...market perception or inside info), then couldn't an increase in AIG share price mean Starr may lose, thus not very good for FnF shareholders?
Thanks Cmdr. What's your take on AIG's stock price as it relates to the Starr case? My limited understanding is if Starr wins AIG stock could/would drop. This is mainly due to the fact that the US Gov't has as part of their bailout agreement with AIG, if the US loses a suit and has to pay damages they can and will come after AIG to foot the bill. If true, then wouldn't AIG's stock drop if Starr wins? I've also read that AIG has no intentions in paying any damages and would counter sue the US Gov't if they try to make them pay.
Yours and anyone's thoughts are much appreciated.
There you go. I stated it would be 150+ pages based on court time. Looks like 163 total. Time to do some light reading I guess.
Thanks hvpatel.
hvpatel, if you contact these folks (family run business) the ladies that work there are very helpful. They will get you what you are looking for. They handle everything for the USCFC.
Tip...If someone already ordered the certified transcripts (my guess is they have) than you can order a copy instead, it's much cheaper than getting the original. Also, the turnaround time changes the pricing as well. And FYI, my guess is for 4 hours of transcripts you are looking at 150+ pages of copy at least. They should be able to give you an estimate too.
Like I said the ladies there are very helpful with any questions you have as a first-timer or pro. Give them a call.
I hope this helps.
For The Record, Inc.
10760 Demarr Road
White Plains, MD 20695
301-870-8025
www.ftrinc.net
Not sure if it did or not, but consider this....if Starr wins the AIG case the AIG stock price could very well drop. Thinking is, if Starr is awarded a large sum, the gov't has a clause in their AIG bailout package that they can require AIG to actually pay any damages, thus passing the cost onto AIG and it's shareholders. Bad news for AIG stock price. It is said that if that happens AIG will in turn sue the gov't.
IL, nice work. There are so many players to add it's crazy. One of the top of my head is Bill Maloni and his blog. Reading some of his blog will give you many names and quotes you can add.
Bill Maloni Blog link
Two 200 share trades today....one at 1:05:47 @2.12 and second one (you mention)at 1:09:08 @2.14...then a little volume pick up for about ten minutes. Same thing happened yesterday, small trades between 2.01 to 2.08 then a small volume pickup. By yesterdays close the small trades in that range had disappeared and the LOD was back to around 2.70.
MMs playing tricks/communicating in some fashion imo, but who really knows with this crazy OTC.
Dollars, thanks for posting the update. Getting closer each day. It will all be worth it in the end.
Hopefully Fairholme and others can use the info as a guide to shut down any attempts of the DOJ using these excuses (or similar ones) to defend FHFA/TRSY actions before they get started. While the cases aren't exactly the same, Starr should offer plenty of insight in how to battle the Govt/DOJ in these cases.