Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agreed. 5-year Lows incoming. Berko is just getting his Short Common game started. Down we goooo
Tell that to the FHFA, LOL!
That's Great! We don't have to hear about $1,000 Common shares any longer. Whew, what a relief!
Let's get back to the topic at-hand, Commons getting Cancelled
Moelis is dead. It's the Benzinga Plan now. Ridiculous dilution incoming, brace for impact!
We are only 20% of the company now (20.1% technically), but when the need for additional capital raises occurs ... let's just say that 20% is likely to become 10% or maybe even 5%.
Government isn't cheating themselves when they own the Sr. Preferreds, which are worth more than the Warrants at this point. Who cares about the Warrants at this point? Sr. Preferreds provide the Government with more money and it'll be easier to just crush the Twins in Receivership since they've won every court case and the Judges say they can do whatever they want.
Rumor is 100 Common shares = 1 share in Newco. Newco will IPO at $15/share, so that means Commons are worth $0.15. They have a long ways to fall.
Best to be in Preferred and convert to Common after you get your Par pay-out and after all of that nasty dilution is over with.
Basic business common sense tells me Commons are gonna take at least another 80% dilution hit in order to raise all the capital necessary.
This is a Restructuring folks. Read up on it. Capital structure matters. Preferred now, then switch to Commons later. It's really that easy, assuming Commons don't get cancelled out in the process.
Finance 101
Common shareholders are not aligned with the Government. The Sr. Preferreds are worth more to the Government than the Warrants are at this point. The government wants everything, leaving everyone else with nothing.
If we lose all court cases, then the Government continues to steal everything in perpetuity. Even if we win some court cases, the Government could decide the Sr. Preferred haven't been paid off.
Don't fool yourself, there are no alignments any longer. It's the Government versus Preferreds ... Commons are left to fend for themselves.
GSE Common Stock is now Officially Worthless Junk!
Berkowitz Shorts this to sub-$1. Then we sprinkle on Benzinga Plan and murder them by another 80% dilution.
RIP Common Stock
... could've had Moelis, but now Commons see nothing!
Common shareholders are not aligned with the Government. The Sr. Preferreds are worth more to the Government than the Warrants are at this point. The government wants everything, leaving everyone else with nothing.
If we lose all court cases, then the Government continues to steal everything in perpetuity. Even if we win some court cases, the Government could decide the Sr. Preferred haven't been paid off.
Don't fool yourself, there are no alignments any longer. It's the Government versus Preferreds ... Commons are left to fend for themselves.
GSE Common Stock is now Officially Worthless Junk!
Berkowitz Shorts this to sub-$1. Then we sprinkle on Benzinga Plan and murder them by another 80% dilution.
RIP Common Stock
... could've had Moelis, but now Commons see nothing!
Rumors of an Average Jokester Plan V2 are circulating. Has anyone seen this proposal? It's supposed to go into a little more detail than the original (omits several grammatical errors that were present in the original) and it also proposes a $1500/sh strike price for the Warrants.
Apparently there are already several Congressmen supporting this new plan -- or at least, it's been sent to them.
Please share the details if anyone has them. It's very important we read this new proposal over the weekend.
How many FMCC shares does it take to buy a Camaro? Where prices are heading (sub-$1), it will take approximately 28,000 for the Coupe or 33,000 for the convertible. That's just for the base model.
Hopefully we get Moelis soon. Then it will only take 6,000. Let's do it!
Sub-$1 would be a painful lesson. Too bad we didn't support Moelis when we had the chance. Could've seen $8-13 over the next few years.
Nope! We got stuck with the Average Jokester Plan. $1000 or $0 ... looking more like $0 now, or at least $0.xx
I just hope Berko doesn't short us all the way to .00xx and Commons get Cancelled
Two Year Lows, Ouch! Someone make the bleeding stop. We all know it's Berkowitz getting even with the bad apples here. Thank goodness someone finally shut them up. I think he will keep pressing his Short Common position though. Need to really twist their arm and make them scream, "Moelis."
$1.25 support might hold, but if it doesn't ... WATCH OUT! Cascade effect down to 90 cents.
Yes, please "retire" the Preferred. Most of us will gladly take Par any day of the week. We don't even want dividends, just Par.
Then we will buy Commons after the Mnuchin Dilution Solution (Moelis!)
Great news! Thanks for sharing. Retire away, I will gladly take my Par and call it a day. Don't need dividends, just Par.
Nope, they won't. The most optimistic gap-up scenario for Commons would be ~$0.50 MAX. Worse case, you happily pay a 20% premium after the fact since Commons will never move up more than $1 in one day.
"You're either with us or against us" -- Preferred Holders. Bunch of Hedge Fund pricks. Berkowitz is fully taking advantage of the Receivership talk. It's possible he is even the one pushing it to his advantage while he presses his Short Common position.
I think we need a lawsuit against Berkowitz. He's causing too much damage to our image. In his most recent shareholder update, he advocated for other Preferred holders to short the GSE Common stock. It just doesn't seem fair to us Commoners.
The Average Joe Plan is clearly the best plan out there -- I mean, who doesn't want $1,000/share!? Unlimited up-side for us Commoners while Preferred holders get nothing. They either get "cancelled" or have dividends halted indefinitely. Poo Poo Preferreds can take a hike. Capital Structure be damned!
Ohh wait, never mind, this is a RECAPITALIZATION. Scratch the above. Preferred 100% and no other options. Buy Commons at sub-$1 or after they get diluted into oblivion via the Mnuchin Dilution Solution (trademark) aka MOELIS.
Not a recco
This is not looking good for Commons. Berko's Long Preferred / Short Common trade is working magically.
And to think, we could've seen $8-13 with Moelis. Now Commons get shafted thanks to a few bad apples. Clearly the people that have wronged Berko are going to regret it.
There may still be time, though. We need those that have attacked Berko publicly to come out and admit their failure to recognize how great Moelis truly would be for Commons.
If you have a choice to support Berko (via Moelis) or Utility model where Commons see maybe $1 EPS/year, the decision is simple.
Gamble on a better plan (Average Jokester) and Commons will get BURNED to the ground. It's now or never folks. Support the better plan and support the only guy fighting for us or get left with the TBTF plan where Commons see nothing or get destroyed via dilution and Utility model.
Easy decision ... MOELIS!
But The Average Joe Plan had Congressmen support. Is it not plausible for Congressmen to also support Moelis?
... Then again, all that Average Jokester Congressmen support meant nothing, NADA, ZILCH. Scratch that then. I'll stick with Moelis being DOA (Delegation Of Authority) as per CBS.
It makes sense, doesn't need Congress support, and will be the Admin Dilution Solution.
Not a recco
Agreed! Moelis = Delegation Of Authority. I sometimes mix up my acronyms, but that sounds right. So what's the Date of Applicability then? I'm hearing Q3, but possibly sooner.
Finally, we agree on something!
It's a recapitalization, and hierarchy (share structure) matters. This should've been obvious from Day 1. Preferred take a hit and Commons get diluted into oblivion or wiped entirely. Even Ackman realized this, hence the never-ending selling of Commons for the last few months.
If you haven't taken CBS' advice, it's time to participate in The Rotation and get out while you can. It's GG folks. Berko was even generous enough to sponsor Moelis, which would've given Commons $10+ (in our dreams now). BUT, a few bad apples had to continue to ridicule him publicly even though he's spending millions of dollars to try to right this wrong.
Now, Berko isn't stopping his Short Commons position. Berko is Bringing the PAIN. Sub-$1 is just around the corner, maybe even by end of month.
Not a recco
How about 104-week LOWS! 2-year LOWS. Rotation aside, this is the footprint of Hedge Fund shorting. It's not even MM manipulation, straight up Berko Shorting
Double whammy -- POW, right in the kisser
UPDATE! Several Congressman endorsing MOELIS according to Bloomberg writer Joe Light. Just came across my Bloomberg Terminal, article must be coming shortly. News comes right at the closing bell. This is huge. Commons might actually see $5+ again on this news. Otherwise, it might be a Berkowitz ruse to slow the rotation.
This rotation has taken Commons to two-year lows. It seems to be a combination of Berkowitz Shorting, plus the Common to Preferred Rotation. It's like a double-whammy -- POW, right in the kisser!
In all honesty, I think we should file a lawsuit against Berkowitz. He clearly has an axe to grind against several of the Common posters here (3 Amigos) that go out of their way to make him out to be a bad guy.
It's not fair we all have to suffer because of a few bad apples that actively attack him.
But come on Berko, STOP THE COMMON SHORTING PLEASE!!!!!
Telling you guys, Berko is not happy with some of the stuff that's been said on the internet about him. He's actively CRUSHING Commons with his Hedge Fund Short. I think it's like a vendetta at this point.
He's not gonna stop until sub-$1. Just wait to buy there because his target is below $1 before he pulls his Shorts. Either file a lawsuit to stop him, or wait until the bleeding is over to buy.
not a recco
The Goldman Sachs guy is just gonna fix everything? Sure, LMAO!! I want some of whatever you're smoking.
First time I've ever heard of a TBTF Banker giving something to the little guys.
I plan to buy Commons sub-$1. I know other Preferred Holders that will do the same thing. So it's a good idea to hope for lower prices, the sooner the better!
Commons will drop another 20% after-hours once it's confirmed Ackman has sold. We need a lawsuit barring Berko from Shorting Commons. He clearly has inside knowledge that benefits Preferreds and he's actively Shorting commons, it's obvious.
Whew! This is one of those days it feels good to be in the company of Hedge Funds (ie: Long Preferred, Short Common). Common shares are going to need some of that Lube soon. Maybe us Preferred Holders can chip in and get an industrial sized tube of Astro?
And then who fights the FHFA/Treasury? We all end up worthless then
I hope the Three Amigos have filed a lawsuit against Berkowitz though. This aggressive shorting of Commons is getting out of control.
First he gets Ackman to exit his Common position, and is now openly advocating to Short Commons. Someone make him stop this madness!
Berkowitz really pressing his Common short position today. Rumors circling that he's convincing Ackman to exit Common and enter Preferred now also.
This might get a lot worse before it gets any better. Sub-$1 is a real possibility.
Hedge Funds shorting should be outlawed. Someone file a lawsuit against Berkowitz so he stops shorting Commons.
Several rumors (CNBC) saying Ackman is selling. Not sure if he's exiting entirely or just reducing his position significantly.
Seems Berkowitz has convinced Ackman to enter a Preferred trade and exit the Common trade entirely.
Someone needs to file a lawsuit to stop Berkowitz, he's OUT OF CONTROL!!
I agree, $1.20 seems like support. No one should buy until at least $1.20, but I think sub-$1 is looking more and more likely.
Berkowitz is really putting on the strange trade here -- Long Pref and Short Common. Seems like it's working quite well.
Berkowitz continues to short Commons on behalf of his Preferred cultists. When will the bleeding end!? This is beyond belief.
Someone needs to file a lawsuit against Berkowitz to make him stop shorting Commons. This is awful.
Have any new Senators or Congressman read the Average Joe Plan? When are they going to sign off on our $500/share release plan?
FMCC should be 1.5x higher than FNMA. No idea why anyone even owns FNMA at this point. If you're gonna gamble on Commons, it should be on FMCC.
Looking more and more likely Freddie will get released from Conservatorship before Fannie anyway. Big Gains waiting to be made.
Sure seems that way. Buyers strike! Smart buyers want cheaper prices. Once we get down around $1, a lot of Preferred Holders will swap for Commons. Let's let it happen so we can all be on the same team!
Or it could be the big money is realizing Preferreds are the better buy due to all the uncertainty in Commons. Most Preferred holders I know are net short Common and net long Preferred.
Berko's last report showed he is aggressively shorting Commons
I think he knows what it means, which is why he has been advocating for people to be in Preferreds and not Commons. That warrant for 79.9% is gonna hurt earnings BIG TIME!! Earnings Per Share attributable to Common shares will go down the drain, we'll be lucky to see .10/EPS once those warrants are exercised. Which means current price is likely over-valued. We should be trading closer to $1.25 based on all those shares that will be out there once they exercise the warrants
Berko has been calling for a Preferred Vote to make sure Commons get as much of the Shaft as will fit up in there. They'll be needing that Astroglide way more than anyone else out there if they don't get Moelis.
Every plan other than Moelis = Maximum Pain for Common holders. Strap In and Lube Up, Big Daddy Berko is coming!!
Can we all agree Camaro needs to be voted onto FNMA's Board of Directors? I mean seriously, this guy is really putting in a lot of time and effort to get his message across.
No matter how inaccurate it is, he's really showing a lot of commitment to the cause.
Camaro - You have my vote. Not only for the crazy house, but also for Board of Directors. Just make sure you don't Cancel_Commons on us