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Lmfao. Where to begin. Another ad hominum attack based on my profile pic.
And then some clueless statements and assertions that are your opinion mostly.
I hope you are right for your sake but am not betting along with you because i think your corporate finance literacy skills are bordering on incompetence in a restructuring where you have a senior equity holder with all the cards and with a value of their equity worth more than the market cap of the companies post restructuring and that is before they even get into their 80% warrants
Bon voyage to your dreams — that is all they will ever be if the spspa is not written down and — show me the legal reason they would do that
Also — when you talk poorly about jps interests—
It is equivalent to living in a 2 story house and calling your neighbor while you are upstairs on the second floor and bragging that the first floor of the house is ablaze in fire and you are going to sleep upstairs soon.
You just do not understand that for the second floor to be worth anything— the first floor must stand.
The our nomenclature is wrong. You say loan. It was spspa. Which is preferred stock. Which is equity. Which is not debt. Which cannot be a loan.
Illegal taking?
Have you followed the takings claims in court?
The government is undefeated there. The scotus didnt take the case
Lol. Enjoy. You are clueless
If spspa converts existing common is toast. If they dont— then existing common has value.
No. They succeeded at that
The problem was covid19 derailed it and delayed it. It is still the plan. They continue to retain earnings
explain how they do that to jps -- go right ahead.
have you not studied this at all?
just because you do not believe the truth does not make it any less so.
you talk like what i say is blasphemy.. but what i am saying is in line with the government's own cbo reports... and in line with the treasury's budget.
Commons have no security here and no rights to defend. They arent going to object in court. Just a bumch of anger on message boards from anon aliases and cries over spilled milk
Your understanding of history is divergent from mine. They gave the apa ruling — fhfa can do whatever they want and the takings ruling — without compensation.
Lamberth did rule that in doing so they violated the contracts and gave us a path to getting about a nickel of our contracted dollar back in damages.
Good times
They ran out of time.
Fact check. False. Mnuchin did actually stop the cash sweep with calabria sept 2019
Cool. Good luck with the spspa
Pretty good friday. Congrats
Wow that is pretty good. How does that work out? You have been posting here for many years.
Did you dump everything at higher prices and buy back lower? Do you trade this? How did you get the low cost basis?
I figure i am down like a million bucks on this trade Lol
Pets go fnma 725 cents!
I like how he is arguing over anonymous message board citations like he is some serious 🕵️♂️ sleuth
Fnma common get nothing. They arent a party to the lawsuit
yes and so it begins:
What do you call the head of the white house meeting the head of the fhfa meeting on housing ? #FANNIEGATE $FNMA any guesses @BrianCDeese pic.twitter.com/AZ8q1X2UCP
— Fanniegate Hero (@DoNotLose) October 26, 2023
i would read the law correctly.
fhfa continues to exist with fannie and freddie out of conesrvatorship as their regulator.
Well, eventually the companies will exit conservatorship via retained earnings on their own. The current capital structure is impossible — and all the employees basically get shafted out of the benefits of working at a public company. That needs to return
In my view on an intrinsic basis the common are underwater in this restructuring. If they could be worth less than zero i would say they are. That said, common shares are limited liability so the lowest they can go is $0. And lastly, they wont get $0 exactly because this is not a receivership workout. So you end up with a situation where they are uninvestible in my view
Sickens me to hold any of them.
No. They do not have dilution protection and the spspa liq pref is insurmountable and largely is “on the loose” in a sense if you ask me based on the court rulings
Good stuff lately
Fhfa st out in TN to talk housing task force
David stevens turning to promote recap and release
Jaret sieberg pushing for recap and release for affordability
Prior NEC deese pushing for admin housing solutions
Prior obama treasury official pushing for recap and release
All Republicans pushing for recap and release
Good stuff folks
Now you tell us. Where were you in 2014 to point this out
For the fannie mae jps only
Fnma commons that you own do not get any of this
They arent even part of the lawsuit
Jps has anti dilution protection
There are not that many scenarios
There is not a spectrum of partial possibilities
Kthomp pointed out an option 4 to my analysis when my #1 was spspa
Spspa is a factor to consider as a common shareholder because if its liquidation preference is not written down as part of this restructuring— it would be converted to common.
This would effectively destroy common
Spspa is conversion.
And here we go
are you hearing what i'm hearing
Distribute widely.
$fnma #fanniegate pic.twitter.com/PIAYWe6aCK
— Fanniegate Hero (@DoNotLose) October 23, 2023
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/warrant/Fannie-Mae-Warrant.pdf
These terms. Review them and acknowledge the truth of their existence and their power to dilute pre conservatorship common equity in any and every forward outcome and Treasury’s direct benefit in doing so.
Those are the terms, so yes. That does sound logical to me. Were you not able to read and understand the terms? Sounds like you were— but you do not believe them. Why do you not believe what you read on an official document with terms?
Are you not being logical? Busted!
Lol. Warrants have no value in bankruptcy/receivership. Very poor logic there.
Glad to see you are taking the high ground here. Enjoy the outcome of your decisions.
Oh. We can read. I just think it is a poor perspective
Good luck with that outcome. Must be in a parallel universe — i dont think that is the reality here.
You must be reading the analyst reports because this is what they are saying
Explaining this FACT to people who do not understand it is like giving someone directions to a restaurant in french when they only speak english. This is a fact. Most common shareholders own commons because they do not understand this fact, much less the other facts surrounding this prerestructuring capital structure.
Retained earnings continues upwards along with the spspa liq pref. Anti dilution protection is the only value in the house. The rest is just a band of confused souls fighting over scraps like they are gold and diamonds. Lol.
The first sounds theyll hear is their heads hitting the floor
Surely not criminal mentality… wrong
No one who is doing this professionally thinks the warrants wont be exercised. Except maybe bryndon fisher. That man has my respect
It was the original deal.