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At least you can buy.
Lol. You are right. They are hard to buy and most here are sitting at a total lost anyways.
Did he lose? Per the update there is still ongoing lawsuits in the courts. From my understanding the class action against the BNYM is still being pursued. Did I miss something?
If the 4 Ws are done and lost all their lawsuits, I will sell at a lost just to keep my word. It will be a tax loss anyways. Plus, I got in late and at the cheap.
Honestly, if the 4 Ws are done and we get nothing, you should probably sell too because the CTs without the Ws are looking at a discharge.
I do not comment on the talk here much because you guys are banking on something that no longer exist. That something which if there is a NOL angle you guys hope to benefit from.
I bought the potential Class Action Insurance Policy against our Trustee. And it was free. Lol
I need a Canadian brokerage account!!! This is so frustrating. I would swoop up shares in a heartbeat at these prices.
I assume you are in Canada? Which brokerage do you use? Thanks.
Biden calls for sweeping new push to expose and punish financial corruption
The announcement comes ahead of a congressional hearing sparked by the Pandora Papers on the role of South Dakota and other U.S. tax havens
https://t.co/A47kWJtcQ1
Pedestrians walk past South Dakota Trust Company's office in downtown Sioux Falls, S.D. (Salwan Georges/The Washington Post)
By Debbie Cenziper and Will Fitzgibbon
Today at 9:00 a.m. EST
537
President Biden has introduced sweeping new strategies to fight financial corruption, pledging a government-wide campaign to identify and punish bad actors who move illicit wealth in the United States and around the world.
Calling the effort a core national security interest, the administration said it would work with Congress to bring more scrutiny to trust companies, lawyers and other financial gatekeepers, seek to identify owners “hiding behind opaque” corporations and target those involved in real estate transactions used to hide or launder money.
The administration has also promised to ramp up anti-corruption investigations at the Treasury Department and other federal agencies and elevate U.S. efforts to partner with anti-money laundering regimes in other countries. The plan includes a call for greater diplomatic efforts to defend investigative journalists who expose corruption.
The so-called United States Strategy on Countering Corruption, announced by the White House on Monday, represents the “most sweeping anti-corruption reform drive in American history,” said Josh Rudolph, a member of the National Security Council staff in the Obama and Trump administrations.
“Spanning dirty money, diplomacy, foreign aid, accountability and more … the only historic comparison is all the legislation enacted after Watergate, but with that not possible in today’s Senate and the threat now transnational, Biden is combating corruption even more sweepingly through executive action as a national security imperative,” he said.
The plan, if properly backed by money and other resources, would bring badly needed reforms to industries open to exploitation, including the growing U.S. trust industry, said Ian Gary, executive director of the nonpartisan Financial Accountability and Corporate Transparency (FACT) Coalition.
“Current law encourages the U.S. trust industry to compete on the basis of providing anonymity and shirking public accountability,” he said. “This effectively weaponizes our otherwise strong rule-of-law financial systems against us, undermining our national security and our democratic institutions domestically and internationally.”
The announcement from the White House came ahead of a scheduled congressional hearing to probe the rise of the United States as a global tax haven. The House Ways and Means subcommittee on Oversight, citing the Pandora Papers, plans on Wednesday to focus on why South Dakota and other states enacted customer-friendly laws that have allowed the wealthy to move and hide assets in the United States.
The revelations were part of a global investigation by the International Consortium of Investigative Journalists and The Washington Post, which described South Dakota trusts that held assets connected to people and companies accused of fraud, bribery or human rights abuses in some of the world’s most vulnerable communities.
What are the Pandora Papers?
A trove of secret files details the financial universe where global elite shield riches from taxes, probes and accountability. (Sarah Hashemi, Luis Velarde/The Washington Post)
Foreign money secretly floods U.S. tax havens. Some of it is tainted.
“Millions of Americans are right to feel the system is rigged when they see the powerful and big business tycoons hide their money,” subcommittee chair Bill Pascrell Jr. (D-N.J.), said. “The sunlight of the Pandora Papers investigation exposed yet more ways those at the top avoid paying their fair share in taxes that ultimately cheats us all, especially working-class Americans.”
Based on more than 11.9 million secret documents, the Pandora Papers also uncovered the financial secrets of 35 current and former world leaders and hundreds of politicians and public officials, including the king of Jordan and the presidents of Ukraine, Kenya and Ecuador.
More than a dozen countries have announced probes into activities revealed by the Pandora Papers, including an investigation of Ecuador’s president, Guillermo Lasso. In the United States, a bipartisan group of lawmakers proposed the most significant overhaul to anti-money laundering rules since 9/11.
The hearing Wednesday will address “blind spots” in U.S. laws that allow affluent people to take advantage of the growing trust industry, according to the subcommittee’s memo on the hearing.
“We will focus on investments in the U.S. and try to understand why South Dakota and other states have enacted laws that are friendly or advantageous for those hiding wealth and/or avoiding taxes,” according to the memo.
Read key takeaways from the Pandora Papers investigation
South Dakota Gov. Kristi L. Noem (R) declined an invitation by the committee to participate, saying she had prior commitments. The committee is scheduled to hear from several witnesses, including Vanderbilt University Law School professor and taxation expert Beverly Moran.
Whats the actual cash infusion? The actual cash fnf received in cship. I am not talking about the value of a guarantee but cold hard cash from the gov?
They collected 310 billion. What is the actual dollar amount the gov gave fnf? Did the gov "infuse" any money or inital bailout money into fnf? Or is it all a premium for the explicit guarantee? Bull shat
Is 60 billion the estimated remaining balance owed in the bk?
How is LBT going to get LBHI shares? Thanks.
How much did ECAPs get paid by LBHI? UK Litigation? Thanks.
Does anyone know if there is an ECAPs prospectus that is filed with the bankruptcy court? If so, what is the docket?
If not filed with the BK court, does anyone know the link to them?
Thanks.
Thanks. I forwarded that info to Rex. I bugged him too many times over the past two weeks. He told me that he will not be able to talk to me until further notice and to look for the updates. I sense there is something going on. Good luck to him and good luck to us. That is my update folks. V
How much claims does LBHI hold? Do you guys have a link? Thanks
And??last I check there are still plenty of lawsuits ongoing with Wu and Waske.
Anyways, Lehman is no longer my main interest. I pivoted back to FnF.
If the prices are not at what it is now, I honestly would sell some and buy more FnF.
At these prices, whats the point? I rather hold out for the Class Action against the BNYM.
Sorry to hear about Phil. They are waiting us out. We are dying off slowly 1 by 1 as the bankruptcy drags on. RIP Phil.
Can you post the link to this? Thanks
Also, last hope if all else fails is Trump 2024. We still have a ways to go with fnf. I am buying the lows. V
I am buying the 50s at the 2.95-3.50 ranges for both fnf. I am also allocating about 10% of my funds to buy commons of fmcc. That is only because its cheaper.
Its a good time to buy and place chips down for a gamble. I am going to root for Trump 2024. I am hoping Trump will recap and release. We are not down to the Lamberth ruling as the sole chance of winning. We still have the Trump 2024 ticket.
There is no guarantee he will do anything though. But, it is a chance with decent odds. V.
Can an American in the US open a brokerage account in Canada?
I really regret not buying more when I had a chance. Its moot now.
No comment. I am with Jersey on this one.
Congrats to jersey. I give up on buying. Its impossible with the new rules.
I am glad I joined the BNYM class action. The wait is long. We are in that quiet period. There should be an update soon.
Theres got to be a brokerage firm in the US that will let us buy the CTs. If anyone knows of one, please let me know.
Thanks.
Seems like it.
We are only talking balance sheet. Derivatives and synthetic this and that are not factored in with LBHI.
Btw, synthetics never went away. They rebranded it. Lol.
Its more like an Enron Moment if you are talking about that chinese company to the chinese economy. Its a huge loss but not a catastophic one.
Aside from today's global crash, the chinese markets is no where near the financial crisis.
Reporters can say what they want, the facts are spoken in the marketplace. See chart below.
Look at 6 months. The ETF is a good indicator. You can aggregate the chinese and hong kong markets and will come to a similar conclusion.
https://www.google.com/search?q=stock+market+performance+in+china&oq=stock+market+performance+in+china&aqs=chrome..69i57.11918j0j4&client=ms-android-att-us&sourceid=chrome-mobile&ie=UTF-8
Magnitude = largest corporate bankruptcy in US history. Also spooked the confidence of investors which led to fnf's cship.
Scale = over $600 billion in liabilities going into the default. And triggered (sparked) the Financial Crisis.
Like I said, the magnitude and scale do not compare with the two.
I look at the magnitude and scale of what is a Lehman Moment. Evergrande is nowhere near the magnitude of damage that can be done to the chinese financial sector and economy as a whole than what Lehman did. Not just in dollar amounts but also the psychological factor in confidence in the markets. Lehman shattered it all.
That is my point. Its the magnitude and scale that does not compare. Not what you said.
You can no longer buy CTs with Ally.
A Lehman Moment is a moment where the company went belly up and took down the entire financial market with it. Or was the spark that lit the wick to the TNT.
This RE company is not that spark. Its a company that lost 87% of its value. It happens.
Lol. I do not think its a Lehman moment. The RE company does not have nearly the impact as a Lehman of FnF to the Chinese market that Lehman and FnF did to ours.
Nothing on the Motion to Reconsider...? And No word on the Summary Judgement for Motion to Compel...? I bet these are all dominos waiting on the Waske and Wu Appeals. It goes to show Chapman knows her rulings on our Subordinate Guarantees are not on solid grounds.
No. I did not get one yet. That sucks.
I am buying kq and lqs
Covenants are used with many aspects of contract law. They are used all the time.