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"Well....so far this administration has turned 401k's into 201k's"
ok this made me laugh lol
“A big reason for that is the disparate asset adjustment for each company, right? Fannie's adjusted total assets are around 5% more than balance sheet assets, but Freddie's adjustment is 16%. That makes Freddie's capital requirements proportionally higher compared to its (balance sheet) asset base.”
You are correct
They have a bigger capital hole to fill as a % of their total % of adjusted assets as required under the new cap rule. So they would have much more dilution if an ipo were to occur a year from today.
Assuming full writedown of snr pfds and warrant exercised:
$3-$8 for fnma
$1.5-$6 for fmmc
Look at ytd % moves.
SPY -23%
FNMA -40%
FNMAS +25%
meanwhile jr pfds trading at YTD highs. strange divergence going on
It's been highlighted / briefed by shareholders in EVERY single case. Judges just don't care (other than Lamberth who used it in our favor).
approx. 2 to 6 months. enjoy the wait
There is no Bhatti hearing on June 17. It was never scheduled to begin with.
Familyman made it all up.
Show an official document with a court order to prove me wrong.
Power to exclude non sense. Govt had right to exclude shareholders in this case from the agreement.
5th circuit / collins has nothing to do with the takings case.
Thats whats being argued in the 6th circuit.. we havent won that argument yet. But scotus precedent shows if you win an appointments clause case the remedy is to vacate the challenged action (NWS here), as the invalid director never had the authority to sign the 3rd amendment.
Nope. They said fhfa is free to act in the best interest of the public even if it is at the sacrafice of the companies benefit. So whether death spirale is real or not is irrelevant because the NWS was taken for the governments own interest which it ruled was allowed under HERA, no facts will change that.
We already lost that argument in the supreme court. Where have you been? They rules the NWS was a legal action under HERA.
I agree he held his own very well.
David thompsons partner from cooper and kirk spoke this week at 6th circuit not hamish humes
They actually both are (along with 3 other law firms representing us)
Oral arguments come before motion to dismiss. And its already scheduled for June 17. Why would i make up a date? You are such a wise clown
“The Supreme Court was wrong”
Cool and who exactly will override them? Is there a supreme supreme court that we arent aware of?
The supreme court already decided for us that issue, anyone thinking they can challenge that public interest section is wasting their time and money. But be our guest and give it a shot. US Constitution is irrelevant these days when judges can twist and turn it to fit whatever objective they believe to be in their interest.
The market is telling you everything you need to know about the common shares. Jr Pfds are up +20% YTD while common shares are down -20%. Thats a 40% difference in performance.
The reality is the supreme court ruling changed everything for the common, and the market figured that out. But people on this board refuse to acknowledge it. Don't believe me? Just open your eyes and see for yourselves. Jr Pfds are +75% since the supreme court ruling crash, meanwhile the commons are -50% in that same period. Ignorance can be expensive.
Shorts covering would imply price should go up as they would be buying. Someone is selling
Crazier things have happened.
He is too wise for us
See my signature
No. This would be the first trial of any kind in any of the GSE/NWS lawsuits.
If 1 party is just talking to themselves about it does that still qualify as settlement "talks"?
Check my latest post. thanks
Probably Remand as you suggested?
Maybe change your SCOTUS Appeal Deadline on your signature tag?
I'm not sure, but my expectations for Rop is that it simply gets remanded to the district court since its still at the appellate level. This would be following in the footsteps of Bhatti and Collins (both cases were remanded from appeals court to district court following SCOTUS ruling).
While most judges have dismissed the cases, we had some victories along the way... Some got overturned, some got modified, some are still pending...
- APA Claim: Originally lost this claim everywhere outside 1 dissenting judge (Judge Brown in DC). Eventually won 9-7 En Banc in 5th circuit, but overturned by SCOTUS.
- Unconstitutional remedy claim: Won the claim but remedy TBD, lost any chances of prospective relief but SCOTUS left open a window to retrospective relief on remand.
- Contracts claim: Originally lost in front of Lamberth, overturned by the DC appeals court in our favor, won the second time around in Lamberth in 2018 (and in 2019 when government asked for him to reconsider the ruling). Now pending trial.
- Takings Claim: Originally won in Sweeney's court, overturned by appeals court, pending SCOTUS appeal.
Overall over a dozen judges have ruled in shareholders favor one way or another. All that's left is trial in Lamberth and unconstitutional SCOTUS remand cases (Bhatti/Collins/Rop).
They already dropped it…
The rule has yet to be finalized so the May 20 deadline is not currently in effect.
Why limit yourself to a mere ~10x upside (chump change) in the jr pfds when you can have infinity upside in the common!
At the end of the day we are all at mercy of the government. Have no doubt they will do whatever is possible to maximize the value for themselves as they've done every step of the way to-date and leave all morals/ethics at the front door when finally resolving this. Good luck
Would a 5yr chart of FNMA be preferable?
looking at FNMAT ... - .40 yesterday +.295 today
not a very productive "net" 2-day sequence ... more to come