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Stick a fork in it...
$2 resistance broke, LOOK OUT
I believe red is FnF corporate color
The logo is a guy looking out from behind bars
Company motto is "Paying for affordable housing for the next four years" -- tho that is the Biden proposal
No need to beat a dead horse ;)
Sub $2 before election, god knows where after...
DRIP... under $2... DRIP
You were warned... look out
Todd converted from common to JPS and I think he takes common to be potentially worth less than a dollar, so he went to cash and not trash (CS)
Thanks for filling me in. I think Todd was all JPS, since he converted last year some time...
I obviously share his concerns, but as you say each to his own
Did Todd Sullivan sell out of the JPS?
Bradford accuses Sullivan of “panicking” on twitter - I respect Todd’s judgement so I am curious
Todd Sullivan is a savvy guy...
Just saying...
Decision time
Does not mean I have to trust his expertise or judgement which I do not
Nor does it mean I respect his putting mutual fund money where he has... very risky
And he has shown no evidence he can take the rough and tumble of contemporary political life -- put Calabria in the barrel for a while and see what happens...
"Uncle!" is my guess
I am not sure Pagliara is putting his money anywhere -- putting OTHER people's money into a very speculative position
I do wonder whether his holders know?
I am with you on Bove -- I don't read him any more... the dress sense says it all tbh
I don't think he has the backbone to stay under some real pressure...
Tim Pagliara -- a neutral observer? A constitutional lawyer? A savvy expert about SCOTUS?
I will take a pass, thanks
TRCPA, you don't seem to take into consideration that Calabria resigns when the President of the United States asks him to do so...
Navy, did Crypto tell you about the consent decree before Jan 16th? Or is that your best guess?
Frankly, Calabria has not the backbone to go alone and he needs Mnuchin's cooperation.
I am not sure Mnuchn needs the grief, right? Mnuchin is about to leave government, does he need to go out with people chasing him for years about cronyism, hedge-fund and donor backdoor deals? I am not sure he has the backbone either...
The Orange man does not care about anything but re-election so after Nov 3, you can kiss goodbye from any interest there (IF there ever was any)
I am really dubious now sadly
Scooby Doo says "Ruh Roh!"...
Better run Shaggy, cos people are beggining to think:
(i) Trump loses
and then move on to
(ii) administrative action not practically possible
and then
(iii) Biden uses conservatorship to fund affordable housing goals FOR YEARS
Drip Drip Drip...
You getting tha hang of this thang....
...6 more weeks of this with Trump undercutting himself at every turn --
Can a dumpster fire self-immolate? Trump proved it can...
Drip... Drip...
Election comes closer, the dripping gets faster?
MORE conservatorship -- That is what the article actually predicts from a Biden win
Tank time for JPS for 6 months or more...
Yeah, I am invested in the SPAC and hence the warrants now -- I *hope* it moves fast with companies trying to go public before the election. That way it will catch a #RobinhoodRoll
But even if there is no deal, election comes and then a crash, it actually looks better. Cos then Ackman has $4-7 billion cash when no one else is willing to put it out
All good -- rather be here with a 2 month timeline than sitting in a dead stock like FNMA... Tho after the election if am sure FNMA (or at least FNMAS) will move. Just not sure about the direction
Thank you for the laugh -- obviously one of his minions found it
Drip drip drip
Looks like it is going down as Trump’s chance of winning goes down - what does that say about administrative action?
Prefs starting to slide too...
Drip... drip... drip...
FFF, my sentiment exactly... GLNG is my favorite right now. It’s offering of its Golar power unit in its Hugo offering will revalue the stock imho... add 50-100% to the SP
I think they will be around - and in conservatorship paying for affordable housing mandates... so not buying in right now
yeah, as relief bill's cash dump wears off we will see what the economy really looks like
I was just amazed Mark Meadows convinced Trump not to support another relief bill -- electoral suicide. Another relief bill would have ginned the economy and employment PAST election day. Instead, the pain began to be felt by voters BEFORE election day
Meadows was elected in a super-safe seat, was a bomb-thrower in the House leading to the loss of the House majority... and Trump follows his electoral advice? Why oh why? True folly...
Altruism, I think that is a very, very real risk -- but no one here seems to want to confront that or even talk about it
57 days to the elections, mail in voting started some places, and Trump is in a terrible state. Trump and Biden are level in TEXAS!! You know it is bad when a Republican is in trouble in Texas
I just don't think the risk here is worth it
No administrative action means JPS drops again, probably FNMAS goes back to $5-6... and then it all rides on SCOTUS
My lesson here has been not to rely on Federal Judiciary -- and ask Hank Greenberg what he thinks, too. SCOTUS likely gives a "clever" verdict making the legal points they want with no monetary return for shareholds -- like AIG... That is a real possibility
Everyone here will scream and shout and stamp their feet, but these are very real risks... I would rather invest in energy stocks where the returns are similar but the risks are far lower imho
Brooge, didn't you say we would go to $3 on SCOTUS news?
Sorry to be slow in responding, I have not been coming to this board - what is the point? Anyone with half a brain can see this is COMPLETELY DEAD till after election day. THEN Trump administration will need a week or two to process that it has lost in a landslide loss and national repudiation
That will give them 4 weeks, taking out Thanksgiving and Xmas holidays. Basically, Mnuchin and Calabria better be sitting there with tight plan, primed to be executed in order to get administrative action done
That does not look to me to be where Mnuchin and WH are right now -- maybe Calabria is all ready and keen to go. BUT Calabria cannot amend SPSA on his own, nor take care of Senior Pref on his own...
I am skeptical that administrative action is happening -- and I appear to be the only real skeptic on the board since Skeptical7 has drunk the bleach-flavored koolaid bigly... lol
The wider Trump administration looks as if it is opposed to release -- how else to understand Treasury's lack of action? And legal defense of NWS?
PLUS, of course, the traditional Republicans in congress have long been opposed to FnF
There is a 6 week window for action after the election
Trump looks likely to loss, possibly in a landslide, AND the economy is worsening as early relief actions wear off
The exuberance here looks decidedly odd... I would put the odds of action at most at 50-50... but likely MUCH lower 80-20? Treasury (ie the WH) has shown NO indication they will release these guys -- Calabria is probably more keen but has had to bite his tongue and look like a fool a few times
6 billion in losses? Scooby-Doo says "RUH-ROH!!!!"
Stick a fork in administrative action?
Nats, right, Calabria put a whole lot of gas on the fire -- and Calabria is not stupid and knew what he was doing
One reading is that he wanted to appear as tough as possible and then let the market/others walk the rule back for him
The other reading is that Calabria is a Fifth Columnist trying to sabotage anything but an ideologically pure FnF -- which turns out not to be market-vaible... so, "Oh well, he tried but these "socialist" institutions just do not work in the market, but I tried!"
Not sure I want to venture a bet here on which it is right now -- and the same point applies to the broader WH
What if the President of the United States asks Mark Calabria for his resignation formally?
Will Calabria resist or will he tender his resignation?
I am not sure he has a backbone, so he may just walk when asked...
So Calabria will be REMOVEABLE? I would not be laughing - President Biden will can his fat ass on Jan 16th...
Then decades of limbo and hence funding for affordable housing and other diversity initiaties using FnF profits
Laughable?
A penny = boom now? OMG
Indeed, never prudent to upset someone who holds your financial fate in their hands - they just decide economy is too unstable to pursue administrative action at this time
Yeah, Neuer showed he is still one of the best goalies in the world
Only 1-0.. and PSG missed 3-4 easy goals
Bayern plated better in early games imho
Buy they are a great team and the best one -- once my beloved Liverpool went out :)
That is just Tim Pagliara, please don't be rude
Ah, Ms Grimes, I had forgotten about her - glad she got some compensation...
I still cannot believe Mel Watt just skated out with no repercussions at all... Have to be a decades-long DC lizard
My tatoo will say "I lost my faith, but not my money"... I was thinking about buying back into the prefered but I am just too nervous about nothing happening. Then back in the Dem-mandated deep freeze.
And I have other high risk stocks to lose my money on, lol
A tattoo sounds so much better -- various people on this board could get one on their forearms
Navy might have a triple trains tattoo -- though his unexplained death the next day would be puzzling
Glenn could get a series of tattoos down his arm -- each with a crossed out date and percentage and new date and percentage. OK< I realize he has to start at the shoulder, not the forearm
Wiseman... please go there, I dare not
A fun game, but I have work so got to stop