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Hahaha...yep.
Pref's always, always, always neglect to say they are non cumulative! So basically the GSE's can deny interest to be paid forever if it suits the businesses needs. Does that mean commons won't get a divvy? Sure, but it won't stop commons from price appreciation. Now if your pref's and GSE's say no interest payments for 5-6 more years....where will that leave them?
Bosss, da prefs, da prefs!
LMao, true dat.
Exactly! AND congress is on record numerous times as saying no shareholder or HEDGE FUND should get rich quick off of GSE's RRR.
This is why commons are a better bet for future appreciation down the road. Pref's thinking they are entitled and number one in line for a windfall will be a let down in my opinion. The government will push for what the government wants, everyone else is secondary...the only equalizer will be the court cases, and none of those, as far as I am aware, are suing the government to convert pref's to a lopsided windfall common exchange.
Nomura is not the government, or the courts, or common shareholders, or conservator....etc.
++++++1
Stockprofiter has a "gap" he needs filled.....any volunteers?
Read here by a poster that folks will be walking away from their homes/mortgage, like in 2008/2009.
I highly doubt many will do this since banks, mortgage companies, etc since about 2009/10 have been requiring bigger money down, aka more equity, so if they walk, they lose big.
I wish our government were run more like the military...complete with court martials for those who do not play by the rules/laws, like the previous administration. Just say'n
Agree with Navy, 12 frick'n years is NOT okay.
I must say, much Better than mob. The mob was taking issue with the comparison. Lol
Let's make it easy for her! Tell her to pick one and punt. LoL
https://images.app.goo.gl/5LbBTCeoMjjpyGki7
Something else they may not be considering in the equation is all the refi's, and yes homes still being bought because of mortgage rates dropping and are still going down. Not everyone is bad with their money....
HUMONGOUS +1
This is what I'm sure is giving Mnuchin and Calabria nightmares.
Gangster politics.
Nice "in a nut shell" critique. Pref's fail to understand these simple facts.
Good article, points out the Obama theft, but I wish one fact would be stated in all these articles....
The GSE's never needed to be put into conservatorship. Why did they basically over-throw the old BOD? Then take over. No news outlet goes into investigating this. They all take the governments word.
I'm not condemning anyone from making money! Pref's and common are in the same boat and should be treated the same. Pref's are hung up on a conversion because they know commons will have more potential after things are more known and accomplished. Aka release
Pref's need to learn to lay in the bed they made. No preferential treatment from government should come into play for release. Only the courts and their remedies should be paid attention to by government.
All things being equal, I want the government to just return what was unfair and release the GSE's as they found them, because they were functioning fine. Pref's are like bonds, and it is in their covenant agreement, knowing they are non commulative, that interest can be turned on and off at will by the companies if capital is needed to meet business objectives.
So, not trying prevent anything, only wanting to see original function restored. Judges are already leaning towards this with their derivative and non derivative claims. They are going to find for the companies benefit, not any shareholder class, then let the cards fall where they may.
The only ones in need of a gift and pounding the table for one is pref holders. The claims they make will never stand up to congressional scrutiny of fhfa and treasury, and how they handle this. Numerous times, numerous congress people have said no big pay day for hedge funds! Who owns most of the pref's? Hedge funds.
Mnuchin, Calabria and Trump are well aware of this, so pref's cream'n myself dream of above par or par and then conversion is a wet dream.
If fhfa and treasury let the hedge funds walk away with the kitchen sink congress will go after the GSE's and make Trump's next 4 years an even worse hell if congress is still Dem controlled.
Just added 7500 more fnma at 1.50. Has not budged much past that all day.
Great,,thanks Navy C
I think donotunderstand truly does not and is purely one of those who just likes to be argumentative whether right or wrong. Just a friendly warning
+1
Nice to see a level headed analysis.
Sweeny should have never referred to the government as the mob. ThE mob is much smaller, steals far less, and has more integrity.
One of the lawyers should have interrupted her and pointed this out.
That's awesome. Lol
Totally amazing how jaded we've all become with our government....I'm starting to beleive there's not a shred of honesty left in DC, like you guys.
There ya go!
No, not bs....she said something like that awhile ago, but so much has happened and now SCOTUS is involved, I doubt she holds true to her comment from back then.
Yep, Same here
This is another problem Guido. Some ignore the fact that at this point in time it is no longer just a purely government decision. Definitely yes, Sweeny AND other judges will have an affect hopefully on what will become a grand bargain.
Comparing this situation to past ones, and looking at it from a government move only perspective, is not seeing the whole picture.
No, just pointing out there are worse things like the car accidents you guys were kicking around and far worse things like cancer deaths
Nice summation ano. You would think government could release them the same way they found them back in 2008, but 12 years later the government is the one destroying them and the GSE's are in need of the courts to "conserve" them.
There's a wee bit of interest accrued interest since that 125b calculation also. You think the government allows any owing to them without interest? So, yes indeedy do that number is higher now by all means.
Thanks for pointing it out mrfence!
This is all you need to know,.
Estimated numbers of new cancer cases and deaths in 2019 (In 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States.)
Fantastic, I hope it's the go too therapy.
That is one of the biggest differences. The GSE'S were treated like the bass-terd redheaded step child. No offense to redheads!