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.
Ah, so this is how Corker rolls. Help the rich, screw everyone else.
I must of missed that first article at the time. It is a good article, and why not. I remember watching Las Vegas Sands and almost pulling the trigger to buy it when it was so low. Never did I expect it's share price to recover and rise so rapidly.
I think your right; hopefully the good bill continues to go through the motions unnoticed.
Anybody else these quotes on your brokerage?
12:56p
Watt: People with Expertise 'Didn't Do All That Great' at FHFA (Benzinga)
12:56p
Watt: Faults Assertions that He's Unqualified to Oversee FHFA, Overseeing Fannie Mae, Freddie Mac Requires Good Judgment (Benzinga)
Absolutely! This drop from the high of May to today's price is equivalent to the Bohica from of August 17th last year in the preferred shares. Look very carefully at the FNMAS and FMCKJ charts, and compare. It's equivalent, and a very nice profit for hedge funds.
This baby is going up hard soon.
Quiet here, for those that might be down, cheer up the sun will rise soon.
Time to do some DD on Mel Watts,
http://blogs.wsj.com/developments/2013/05/02/qa-what-watt-would-do-as-fannie-maes-regulator/
WSJ: What should be the mission of the FHFA, and how would you measure success in achieving those goals?
Mr. Watt: I’m not sure I can answer that question, either. Obviously, the mission of the FHFA—the primary mission is to safeguard what is already there and, ...
I interpret this as to keep the current system and that includes FNF. That is why Corker is in such a damn hurry with his POS bill.
Here's the original FHFA release, the tone is neutral and un-biased in it's entirety and language. Your drawing your own conclusions. Have to also agree with Dpsimswm's comment too...
http://fhfa.gov/webfiles/25331/FHFAStatementonCorkerWarnerBillFinal.pdf
Quarter end approaching, time to move up, and Corker did his job. I can't believe how much mileage that idiot got.
Go Fannie & Freddie.
That's so funny. That clock needs to be on the desktop screen of DeMarco's, Lew's, and some other politicians computers.
If so, there's nothing wrong with taking some profit. He may of had some other losses to cover.
I suppose part of the grand plan is to re list the stocks on NASDAQ... If that is part of the desired result, they do have to get the common share price above $4 per the requirements.
http://www.investopedia.com/ask/answers/121.asp
Good, more to come.
So the government likes the student loan crisis. Never mind all the young graduating college students are overwhelmed with huge loan debt, and will never be able to save for retirement.
LOL, that wasn't the guy I was thinking of but thanks for pointing me to him.
So true, my, are memories short. About two years ago I remember a nutty Ivy league economist screaming liquidation, receivership, and will not ever be profitable. Forgot the guy's name.
Agree, it very likely is just noise.
Just seems like the most logical and easiest solution is for them to let the companies pay off the debt, govt. sell some stock, release back to us like before 2008, and shrink their portfolios down so they are not such a systemic risk. All this takes is time, which has been on our side.
How much would this new FMIC cost the taxpayers and how about the costs of running the receiver companies. Seems awfully crazy and stupid when there already exists a system that works.
R-ship brings new uncertainties, IF that were to happen in a couple of years, and I would think we would per this draft bill have some fair warning when it might occur. Also, would the stock even trade? Further, see the definition of R-ship it is an action of last resort.
http://en.wikipedia.org/wiki/Receivership
Nonsense, so we will change the name of two companies that have operated and functioned quite well since the 1960s and 1971 up until about 2008 because of politics..., really, the BS meter is off the chart.
Well,.. Corker's name's are quite lame. Maybe this lunatic Corker needs a name change...
Rosen62, although the name of these companies has been "vilified" since 2008, I humbly think there is absolutely no need to change the names, it's non-sense, just polish them. Look at AIG, did they change their name after being "vilified" by the press? Hell no,.. they stood up and came right back.
I think it's BS to change their names.
They are coming back, and stronger than ever.
http://www.fanniemaeprogress.com/#chapter/video
Caught that. I've been going through all it all. I can see this bill getting a lot of opposition. It could be very well be just a lot of political chest thumping.
I mean really,... do they really think this FMIC is going to do a much better job, be more efficient, and cost less than Freddie Mac and Fannie Mae that have worked well for decades prior to the housing crisis?
He states after the so called certification date the mandatory receiver ship would occur; which could be up to 5 years.
Yea, the Corker bill is not good at all.
Thanks. Further down, DeMarco states,
"The Enterprises cannot remain in conservatorship permanently, and expanding private sector participation is essential for the long-term health of the mortgage market."
So how does the government expect the private sector to participate when you just give them the shaft?
I don't know? The lawsuit is against the government not the companies, so any damages would come from the government not the companies; of which private holders own 20%.
That is true. Funny how the lawsuit is stating how there was a taking.
You don't mess with TX, especially the Police. Now watch the TX teacher's retirement fund show, up. They really don't mess around.
Certainly, ...and who filed it?
If you haven't seen it already; you must watch the video on the front page of Fannie Mae's website. I don't know how long its been there, but I think the purpose is to help clean Fannie Mae's image.
Will bring tears to your eyes,...
http://www.fanniemae.com/portal/index.html
Employees should be signing this, where are they?
The black hat shows up right on cue to kick you down further when your down in the dirt.
There are so many reasons why one would sell here, but there are few reasons to buy. Now why would somebody buy today about $40M in very illiquid securities when they know it will be very difficult to sell?
Agree. It would be a signal of confidence, but it's a big IF that happens... We can only hope so.
Thanks. I'm sure I speak for others too, it seems like to me it has also accelerated the aging process a little. I have a lot more grey hair now.
She's go for launch Sir, T-minus...
No preferred shares for this one, right... Wonder if they hold any significant assets including GSE preferred securities.
Don't know much about NBG-A, just saw it on a list of distressed preferred shares.
NBG-A is almost 40% of RV and they don't even have tax payers.
That would be a very nice trickle up.. ;)
Its kind of weird now, these two companies are now keeping the government a float now until Labor Day. Doing our patriotic duty,...? Lol.
http://www.bloomberg.com/news/2013-05-10/lew-says-fannie-mae-delays-u-s-debt-limit-until-september-1-.html?cmpid=yhoo
Is Fannie's profit the largest ever recorded in all of history?
http://en.wikipedia.org/wiki/List_of_largest_corporate_profits_and_losses
Sweet Jesus...
That's good. They have clients to answer to, so they have to take some profit from time to time.