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I'm in my 12th year of holding Fannie and Freddie shares so the word "patience" is rusted and dusty in my account.
I had a good feeling about Mnuchin, at first, but if he doesn't take some action very quickly, I'm going to peg him as a second coming of the criminal Hank Paulson (of their heads hitting the floor fame) and wondering what was Trump thinking.
The NWS finale is the first step needed and requires no effort. Perhaps Mnuchin can supply no effort!
What sort of mental illness would be required to have two Fortune 50 corporations (who are killing it financially) go into receivership? The white coats would be coming for that person/persons!
And do you believe that a jury, made up of citizens of the United States, with any degree of common sense, would agree with the government that a loan can never be repaid? A few will argue that it was not a loan but it was a loan because it had interest terms of 10%. In a jury trial, the government's argument has no merit.
Amen brother! Mayopoulos needs to be on the next trash truck leaving town.
The problem with the warrants is twofold. First, if exercised, the government would get those newly created 4,600,000,000 shares for $46,000 at strike! That right there is grand theft on a astronomical scale (the mother of all heists)!
Secondly, I don't think the government could convince a jury of citizens that the warrants were NOT used as an collateral instrument in the case of FNMA because that certainly was the case.
As collateral, the warrants must be returned because the reason for their existence has been satisfied with repayment.
Use of the warrants by the government would be nothing more than the government getting a financial gain with ill gotten, confiscated funds belonging to private citizens....a nationalization, if you will.
Do you think with Mnuchin we might as well start looking for a tree with a strong limb to throw our rope over?
It's funny how the biggest theft in American history, by the government, can't draw a back page write-up in the Podunk News!
Almost looks like the media is in on the conspiracy! LOL!
How do you figure the government will control the share price on the stock market? Talk about overstepping authority!
Gasparinoitis...
Good one but what really happened to Charlie was he met Lorena Bobbitt and is now a eunuch! Cavuto too.
Right now, I think Mnuchin is "lost in space" as far as Secretary of the Treasury is concerned. I will allot him a little time to get his bearings but he had better not accept the "dividend" on March 31 lest he be fed to the wolves.
Millstein says the one mistake with Fannie and Freddie were that they were undercapitalized. But is that true? If one takes away the criminal element where the TBTF banks flooded them with known toxic paper they may very well have been sufficiently capitalized. It wasn't just a matter of the economy going bad so much as it was about mortgages being issues to borrowers who couldn't maintain those mortgages under any circumstances. Intentionally done, of course.
The Alex Jones/Dr. Jerome Corsi interview is about as bare bones as it can get and I urge everyone to listen to it. My knowledge of the situation, while not all encompassing, agrees completely with the thoughts expressed here and Dr. Corsi, apparently, has the proof to back up his words. Why those that would like to nail Obama's hide to the side of the barn don't pounce on this information is beyond comprehension! Here's the barn, the hammer, and the nails.
Yep, and all with ridiculous scenarios.
Much closer to impossible than to not likely!
"we need to get nader to give munch a new corvair"
Nader might be dead since it's been so long since we've heard from him! I told you all years ago some may die of old age before this scam get settled.
Wouldn't that be playing games with mom and pop shareholders? knowing the NWS Sweep could end on a signature. You know, let us draw just one more pint of blood and we will quit. Some folks are already down to their last pint of blood.
IN PERSPECTIVE
Fannie Mae and Freddie Mac have been entangled in the government's web in excess of 3000 days. 3000+ DAYS!
Conservatorship nurses a firm back to health. By 2012, both were back to profitability so conservatorship should have been lifted some time in 2013, to be generous. That 10% dividend seemed too good to those in charge to change but it didn't give the businesses to the TBTF so the NWS was put in place to, essentially, put them out of business......after their piling on of toxic mortgages failed to do the job.
I guess members of Congress are going to use this "REFORM" crap well into the future; basing their opinions on lack of historical knowledge of what actually happened to Fannie Mae and Freddie Mac.
If they knew the whole story (a la Paul Harvey), they would know why the GSEs had difficulties and who caused that difficulty.
One thing for sure, they don't need any reform now unless reform means that the federal government will quit meddling. Both are well oiled machines that don't cost the taxpayers a red cent.
You bet.....pass the Depends (from laughing)!
My God people! It's $2.95, not $29.50.
Reluctant or not, proceeds from the NWS are ill gotten gains...actually stolen property, if you will. If you see the problem and have the authority to correct it. and do nothing about it, you're no better than the instigator.
Sort of ironic GV that every time the financial media need a comment, they turn to a snake-in-the-grass. I guess in that business, an honest person is hard to come by.....especially one with no agenda.
I would think cronies like Ackman, Berkowitz, and Cousin Carl are in his ear constantly so a letter campaign would be of little use.
What we might learn is that his hearing is deficient.
Nowadays it requires a YouTube video, I suppose.
I've never heard of Infowars until the link was given here. I have never heard of Jerome Corsi until I read the article. There are a couple of date errors, I believe, but what do read that is dishonest? Sounds to me like a pretty good narrative.
I sort of agree with your thoughts trunkmonk. Everybody seems to be fixated on the already filed lawsuits. I think there will be future lawsuits if these things are not properly corrected and released to the equity holders.
I now believe Mnuchin was "cast" in a job where he doesn't have a clue. Not saying, with help, he can't figure it out but right now I see no confidence in what he's saying....and he's certainly not doing anything yet of which I see evidence. Looks a lot like our judicial system doesn't it?
It's still stealing under the cloak of nationalization.
Another week
........in a line of now countless weeks of high anticipation, no action, and consistent disappointment. I'm getting into the Rick Nagra prediction business, only with a touch of accuracy.
"this stock is in conservatorship not receivership. This means it was meant to be turned back to the shareholders."
I guess the government just forgot! Must have been an oversight.
There's only one possible way Maria is in bed with you and everyone here knows it.......you predicted she would NOT be in bed with you;
much like your continuous share price predictions!
It's called the Rodney Dangerfield effect.
The country may have reached the point of no return. All great civilizations eventually failed and I believe we have taken a giant step to that end with the Obama years and the rise of the "twinkies" among our citizenry. The childish behavior since the past election is a damning clue to our path.
Everything to wrestle Fannie and Freddie away from the government has a difficulty factor. The easiest and simplest item is the ending of the NWS; something the Mouseketeer could have done in a second if he was fast or a minute if he was slow. It would have shown good intent towards the equity holders but no, there is little concern for out ilk. Ending conservatorship is a bit more involved so that chore would follow ending the NWS. Then we can address the relisting of the stocks on the major exchanges as I think the exchanges don't want to list firms in conservatorship, a stigma, if you will. You will note I never mentioned reform.
Neither entity needs reform and if they did, that was accomplished leading up to 2012. So Trump and Mnuchin needs to get on with it!
Otherwise, they are as sorry as the dunces before them.
So why hasn't this "unconstitutional authority" been challenged in the cases of Fannie Mae and Freddie Mac by this so-called group of "high powered" lawyers?
This board represents nothing but idle speculation. I read that this or that is being done, some behind the scenes, but over a period of time and in consideration of the simplicity of some of the tasks, there are never any results.
The writer says Fannie Mae and Freddie Mac needs something to change.
That is correct, the justice train needs to be set back on the tracks! The sound of the lawlessness is deafening.
Exactly! That's why I get a good laugh every time I read his monotonous, BS spiels about stock classes. I am confident all common shareholders will get to laugh at him when we are all standing at the payout window; he with his sandwich bag full of "preferred" proceeds and all of us there with our wheelbarrows full of "common" proceeds.
If what you suggest is true, then Mnuchin is no better than the garbage that proceeded him......Geithner, Bernanke, Lew.
I was not clear Pitt..........to the author Short Only.