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I was not clear Pitt..........to the author Short Only.
Thoughts on a true short. Many here hope you choke on your own vomit.
Can't say I heard anything of value among the canned responses.
Yep Grits! The NWS could be ended in about a minute. Mnuchin and Watt know that but I see no activity in that area. I know Watt is a sorry piece of crap but Mnuchin seems to want to be one too.
In other words, the much beleaguered shareholders could get some satisfaction and confidence in our system with something as simple as a signature but, apparently, we don't even merit that tiny bit of consideration.
How right you are.......... Foxes never should be the guards at the henhouse! The TBTF banks/lenders' scheme was to take all of Fannie and Freddie's business and close their doors. Wish Fannie and Freddie could take all their money and shut them down and put their criminal CEOs and upper management in prison for collusion! We're still having trouble with the courts and the speculation that some of the judges might be owned by somebody. Otherwise, there's no logic play on absolutely ridiculous decisions being rendered.
I would like to know why these idiotic judges think it's the responsibility of institutional investors to be the designated financiers of the GSEs when they need funds? Institutional investors are the same as we individual investors except they are buying stocks in blocks for their constiuents rather than as individuals. They are here for exactly the same reason all of us are here.......to make money.
As I recall, early on, the GSEs said that if they need money to cover shortages, they could borrow the money from a number of sources.
The government steps in and says it can only be borrowed from treasury and even dictated how much they were to borrow. Those are the old strong arm tactics used by the mob. It was illegal then and it is illegal now. Problem is we can't find justice in places it should reside.
Striking down the NWS is so simple a child could do it. As you will note, neither Mnuchin nor Watt has lifted a finger to initiate that action.
While I thoroughly agree with your sentiment, we are running out of courts to go to where the judges actually have a brain and a drop of common sense. Even the Supreme Court is going to have its representation of brain dead jurists. Let's just hope if we get there the haves outnumber the have-nots.
Mnuchin will show up with his girlfriend, Betty Dont.
I'm going to go a little farther down the road than you did and say Mnuchin will do tomorrow what he has done since being sworn in.....
nothing at all.
All the cheerleading in the World only accomplishes what the cheerleaders on the bow of the Titanic accomplished!
What we need is ACTION, not words.
Whoop-de-do! Back to where we were ________________(fill in the blank).
Sort of sad to think a great nation, in just eight years, did, in fact, become something on par with a banana republic. Sadder even is the fact that patriotic Americans sat on their butts and let it happen.
I don't know. It is exceedingly difficult to find judges in possession of a brain to disseminate common sense rulings these days rather than such narrow, off-the-wall bull s##t as we have been seeing over the past few weeks. It really looks as if the country has turned into that banana republic, so referenced.
Two miserable excuses for judges ruled that the FHFA is more powerful than the Constitution of the United States. I hope both die on the way home from work today.
You can skip the first 100 pages and read the last two paragraphs.
What a waste of paper and court time leading up to the last two paragraphs.
Heck, I have to declare all the household social security income as taxable income. Death by 1000 slashes! What a government.
We do not need someone who agrees with us, we need someone who agrees with us and will do something about it! I'm waiting.
"You see, it was the fact that TBTF banks needed more market share that caused them to create the facade of a spiral; which needed liquidity and forced their bad loans on fannie and freddie and saved their bacon as they crushed the community banks and their investments in "preferred" stock that made up the core capital of small town, usa banks."
I'm willing to bet good money that the TBTF banks/lenders ended up making money on their rotten deals with Fannie and Freddie. Sure, they had to take back some of the bad paper and were quick to settle the suits with the government for big money (some were in the billions). I suspect every one of those settlements was pre-arranged to appear remorseful. Still, when the ledgers are viewed, every damn one of them came out smelling pretty good and in the plus column.
How about $20B (4 X $5B)/1.16 B shares?
Yearly profit, not quarterly profit
After observing the circus surrounding the recent election, does any shareholder of Fannie Mae or Freddie Mac stock want Congress to revamp/reform them? I would just as soon ask some kindergarten kids to do it since it is hard to distinguish the difference between the two when compared side by side on behavior.
Lack of intelligence seems to be piled up on the Democratic side of the fence but that does not excuse the fact that some of the pile eroded, ran under the fence, and is now on the Republican side.
This country has GOT to have term limits to replenish brain death in Congress.
navy.....give pause that the suits against F&F are not in the 9th Circuit COA or we'd be screwed to the wall!
Mnuchin is not only from Goldman Sachs, his father was a principal there. To think his allegiance is elsewhere is fantasy.
He appears to be shareholder friendly in our case. We'll see.
Fannie Mae and Freddie Mac were nationalized in 2012. For proof, when was the last time you,as a equity holder,shared in profitability? When was the last time you were able to vote on any corporate matters? When,since 2012, have you had a BOD serving you that you elected? Chavez couldn't have done it any better.
"Frozen" payment sure as heck isn't good enough for shareholders. Mnuchin needs to get off his sorry ass and strike down the NWS. It only takes a stroke of a pen and would certainly give some hope to shareholders beleaguered for far too long! So far, he hasn't done a thing for which there is some evidence.
All this posturing by posters here that he's got this lined up and that lined up is a bunch of hooey because none of you know any more about that than I do.....and that's essentially nothing.
Should have just urged Watt to move his head so they would know he's still alive. He's done absolutely nothing since selection to that post.......a selection made by another do-nothing $#%*%$#!
The bigger problem, IMO, is that the media, in general, think it is Trump's duty to keep them in business. They want there to be no secrets....even on national security matters and he better not withhold any of that from them. I hope he cuts off their oxygen supply for a long enough period that they think they are dying.
Lessons can't be taught to a belligerent crowd unless there are some consequences.
With so much seemingly going on, the realization sets in that really, nothing has been done to remedy shareholders' situation. Not to say things won't happen, just that things haven't happened.
It's like the earlier jail cell analogy. We've been here so long, we won't push on the cell door to see if it's open. Fact of the matter is, nobody can see any evidence that the door was unlocked.
Where Do All Our GSE Profits Go?
Clue: Who was taking over-the-top vacations on a routine basis over the past eight years? They has to be paid for, you know!
So there's no time to address the most egregious act by the U.S. government against privately held corporations in the history of this country?
Should there be a beginner's course in multi-tasking for certain individuals?
Grasping at straws! The NWS could be stopped on a dime tomorrow simply by action of the Secretary of the Treasury.
I think there will be a settlement; not necessarily to take care of the present lawsuits but to prevent future lawsuits. The government has to take care of the dead period (2012 - Present) where shareholders' rights have been completely usurped and all profits confiscated without due process. It was, no matter how described, a nationalization of publically owned corporations and highly illegal.
I think they will calculate what would have been dividend payments with F&F's profitability during the mentioned period (20 quarters so far) and pay shareholders of record. It will probably be in the neighborhood of dividends being paid by F&F before all this immaculate takeover began by Paulson and his cronies.
The money advanced to F&F, with reasonable interest, will be considered repaid and the excess collected returned, to include the TBTF bank settlements with FHFA and Treasury. That sum represents recapitalization.
The warrants will be recognized for what they were (collateral in case of default) and will be voided in the process of the dropping of conservatorship.
What we won't get (but I can wish) is prosecution of those involved who caused this crisis for want of greed. I would love to see Hank Paulson and his buddies rot their miserable lives away in a forgotten prison in the boondocks.
If it should go to zero, Mnuchin & Co. should rapidly volunteer for the space program and the Mars mission to, hopefully, get off Planet Earth. Lots of people will be looking for them, if you know what I mean.
If all of you would like, I can make a post every day about 4PM stating that "NOT A THING WAS ACCOMPLISHED TODAY" in reference to getting F&F out of the NWS and Conservatorship.
Naw, on second thought, that would become monotonous like the erroneous predictions of RickNagra!
I can't find a damn soul that will admit voting for the SOB. The "snowflakes" are harder to identify than I thought! LOL!
I don't think the "giddyness" is coming from the long time stock holders but rather those of a more recent vintage (the get rich quick crowd). I'm a 2005 holder and the only thing that excites me in regards to F&F is that which falls under the "I'll believe it when I see it" description. We're still under the NWS and in conservatorship so as far as I'm concerned, nothing has been done to relieve our pressure.
I believe any attempt to use the warrants will be met with a legal challenge of their validity.
This crowd could take one word and write a novel. As you so politely suggest, the wording is probably nothing more than a different individual doing the report and is nothing to get excited about at all. Nothing has changed. I had hoped Mnuchin would have struck down the NWS before the financials but that wasn't done.
Oh well.
In the order of things, I don't think any exchange is going to uplist corporations who are under conservatorship.
ATTENTION:
For all you wheeler-dealers, keep in mind that the exchanges are CLOSED on Monday, February 20, for President's Day so you won't be able to do your thing on that day!
"“Of all the hardships a person had to face, none was more punishing than the simple act of waiting.”
? Khaled Hosseini, A Thousand Splendid Suns
For all the high rollers of Fannie and Freddie, the wait has been nothing more than a pain in the butt. But there are many people who invested in these GSEs as part of their retirement plans that in the normal course of operation, would have received dividends to supplement their retirement. Those people have been deprived of their livelihood by the nation in which they live. Pretty sad state of affairs I would say.