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You people do realize the NWS is "stolen" money as a result of the nationalization of the GSEs? Some of you are posting as if this was discretionary money owned by Congress. This is money that belongs to the equity holders of Fannie and Freddie usurped by a rogue administration!
Seems sort of hard to get this Model T started with Mnuchin sitting on his hands. This car has a hand crank!
The NWS is a theft. After the inauguration and swearing in, for them to allow the theft to continue signals that they approve of theft. Otherwise, they would put an immediate stop to the illegality. Any continuation makes them equally as bad as the garbage we got rid of in Washington.
That's okay. The 46 attorneys can go on the U.S. Navy's Law Cruise to celebrate how valuable they were to the country! Remember the Law Cruise?
.......and took away the rights of shareholders since 2012 during a time of great profitability. That's where the damages phase will kick in!
I really don't think your 100 share short has any impact.
Problem is that Mnuchin has had NO effect. There were a couple of simple tasks he could have completed but as far as I can tell, he's been sitting on his hands doing absolutely nothing. Chit-chat does not count towards anything of value.
Memory and math are a bit fuzzy but today, the end of the work week, will mark the 443rd week of captivity experienced by Fannie Mae and Freddie Mac by this rogue government.
Article says bills are being introduced to stop the practice. What are they going to do about what has ALDEADY taken place? Only Congress is authorized to appropriate taxpayer funds and last I looked, a corrupt and crooked DOJ is not part of Congress!
On rare occasions, the judicial system can operate swiftly if it involves some political motivation. Look at the Trayvon Martin murder case (or so they thought). Martin was killed on 26 FEB 2012 and the jury verdict for Zimmerman was 13 JUL 2013; a high profile case with implications.
Fannie and Freddie's attempted murder case (2008 to present) with no end in sight....a no profile case that nobody cares about except the 14,000 equity holders who have been maligned. Go figure?
Zager and Evans sang a song once about the Fannie and Freddie court proceedings and nobody paid attention that it was about the equity holders.......in the year "2525". That's probably when our judgment will come......the government will have run out of excuses and the judges can no longer find 30,60,90 days for things to be mulled over.
Yet with all our moanin', groanin', and complainin', to date we have accomplished nothin', nada, zilch!
We are the most disrespected citizens in this country. Hell, illegals fare a heck of a lot better than do Fannie Mae and Freddie Mac shareholders!
Oh no navy, this ship has been painted, the paint falling off due to weathering, and then repainted............. a number of times! We are at a point where many coats have been slapped on this old rust bucket!
....and. of course, they just dropped their cost of trades to $6.95 after many years of higher prices!
But the "massive windfall" is what members of Congress like Corker, Warner, Crapo, etc. were so vehemently against from the beginning!
Ever wonder why?
It would be funny to go after members of government with RICO when members of government thought up and passed the RICO act to go after the mafia.........and the Washington mafia signed off on the bill!
You wrote in the wee hours this morning. Over a cup of coffee this same morning, with the news of television, we learn that the Democrats are going after Trump's choice as Deputy AG, hoping an Obama appointee will head up all these various investigations. I swear we are going to have to kill them!
Both are a waste of taxpayer dollars when dollars don't need to be wasted.
I went ahead and took the other two payments never claimed on returns and used them to close my position in FPFX; yielding a net profit of $1744. I was negative until this last payment which pushed me over the top. If there is one more small payment, it will be profit above and beyond and I'll just report it as a 100% gain to be done with it.
If the FHFA is declared unconstitutional, then conservatorship flies out the window. Isn't that correct?
The DC COA ruling was laughable because it was so ridiculous. Judge Brown was essentially asking Millett and Ginsburg "are you stupid?" and it, apparently, went right over their heads. I expect that one to go to a full panel hearing and let's hope we can find a judge or two with some common sense among all these judges nowadays that want to make the law rather than interpret it.
If the Russians did actually influence the election (and I don't believe that for a minute) then we should thank them for saving the United States of America. During the past eight years, the liberals and Obama have pushed the country to the edge of the abyss, where morals, decency, and laws are non-existent. The election of Clinton would have been the shove for the country to go over the edge. That is all anyone needs to know that likes our way of life.
What nobody seems to realize is that over the past eight years, we had no government. All we got for our nickel was a bunch of Daley style hoodlums from Chicago who looted the coffers and disregarded the law as they saw fit. Trump has to not only set the locomotive back on the tracks, he has to set the entire train back on the tracks!
Just hoping your boy doesn't disappoint you.....or me, for that matter, dipstick.
You do realize that he's on the other side of the fence now? He's done nothing visible to shareholders going on a month now. When he was confirmed, the guy who lives under the bridge down by the interstate told me that the net worth sweep had to end immediately to shore up confidence in equity holders that the Trump administration was going to do exactly what they said they would do.
"Mnuchin will remove warrants and nws. He's made his intentions clear."
Apparently I missed that press conference.
An argument could be made that he's meeting with the two crooks because he, himself, is clueless. Perhaps he's seeking advice.
If so, he's certainly chosen the wrong path to fairness and enlightenment. He might also talk to Hank Paulson because it was he who wanted all our heads to burst open when we hit the floor!
An argument could be made that he's meeting with the two crooks because he, himself, is clueless. Perhaps he's seeking advice.
If so, he's certainly chosen the wrong path to fairness and enlightenment. He might also talk to Hank Paulson because it was he who wanted all our heads to burst open when we hit the floor!
Actually, $20 for companies with this high level of profitability and low share counts is ridiculous.
That reads sort of like Clinton's "what you definition of is is!"
Yes, unless this Mnuchin character decides to quit sitting on his hands and do something to show signs of life!
You can't make deals to circumvent the law. If Trump was to do so, he's no better than the crap that just left Washington!
If you break the law, you get prosecuted........or that's the way it is done to the little guy on the street. Washington folks are no different, as much as they would like to think that to be the case.
Yes, the documents will likely show what you have mentioned provided the "good stuff" wasn't shredded before the court ordered them to be relinquished.
With the sheer lunacy of today's judicial system, as displayed by the recent COA decision, it is not a given that justice will prevail. With any knowledge whatsoever of what has gone on with the F&F fiasco, one can see where Millett and Ginsburg are fools and shouldn't be holding the positions they do. Problem is, there's no way to run them out of town unless, say, they have an accident walking across the street. LOL!
A court ruled. It will be appealed. THE court has not ruled.
The NWS is unconstitutional so, in my opinion, and in the end when the fat lady has sung, these ill gotten gains since 2012 will have to be returned to the GSEs and that will take care of the recapitalization. Legally, the government will eventually lose for exceeding their authority with the NWS and then law suits will be file for forced nationalization of the GSEs and the usurping of shareholders rights guaranteed under the laws of the land. To avoid huge damage payouts in civil action suits, they will then take a damage control route by offering to pay shareholders the equivalent of a dividend from 2012 to present based on the calculated profits over that time period. I'm thinking $2-4/year/share for shareholders of record during the prolonged time. That would take care of the NWS mistake and revitalize Fannie and Freddie with capital.
Attention could then be turned to removing the conservatorship which requires a bit more work. Reform was done prior to 2012 and that is why the GSEs were essentially profitable when the greedy NWS was instituted. That said, this reform that politicians keep harping on is no longer necessary. To me, this action appears to be the only way to appease beleaguered shareholders whose legal rights have been violated during this fiasco.
All of the screwing took place, for the most part, during the time of a vile and corrupt government where point of law was considered insignificant. I have no reason to not believe Trump, at his word, that he is going to clean up government, top to bottom. Hopefully, shareholders will get back all they are entitled to under our Constitution and, in my opinion, that's quite a bit.
The Federalist Society for Law and Public Policy Studies is a group of conservatives and libertarians interested in the current state of the legal order.
So what the hell is John Carney doing on this podcast?
Yellen will be a goner in January!
Of course it was illegal. Only Congress can appropriate tax money. Here, DOJ apparently was doing the appropriating of taxpayer dollars. Sessions should go after these people like a hawk to set an example, long to be forgotten.
Good article! Thanks Guido.