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The only time you will find any speed in any court's jurisdiction is with a high profile case. Some newsworthy cases have gone through the courts at rocket speed; mainly because of politics.
Shareholders in Fannie and Freddie are of no significance to the courts, or the public for that matter, so we must be subjected to
the business as usual speed of our judicial system. Business as usual requires one to put a chalk mark on the case so that in passage of time, you can look back to see if there is any detectable movement.
Since this administration has seen fit to support all its entitlement programs with proceeds from our companies, it's a wonder there has been any movement since 2012.....and I can't prove that the movement that has taken place has moved us any closer to resolution beyond the cheerleader squad's wishful thinking. From early on, there should have been an injunction stopping the NWS while the case is adjudicated. There was no such action so I believe the courts have greatly contributed to this willful and malicious nationalization (which, supposedly, is illegal).
LOAN SHARKING at its finest! That, of course, was before the outright robbery.
.....and Dick Bove is a very smart man.
I think that might be the former Gary Busey?
Sorry pal. The MMs have already made millions over the years. Do you really believe they give a damn about you (or me)?
Can you see that you are delusional?
.....and in the print media, the Wall Street Journal is running a distant second to The National Inquirer!
I would like to think that he would read your message if he can break himself away from kissing the bathroom mirror! LOL!
Just from reading this op-ed, this Nichols guy can be identified as a eunuch!
What Should Concern All Shareholders:
Mnuchin, speaking on Fox Business, said "We got to get Fannie and Freddie out of government ownership." It makes no sense that these are owned by the government and have been controlled by the government for as long as they have.”
Fannie and Freddie haven't been "owned" by the government for more than four decades; "controlled" yes, "owned" no. Do you think he doesn't even know this basic fact?
"The overpayment will need to be used to justify to the public that it was a win for the taxpayer"
WHAT???????????????????
You do realize that you are NOT a party to these lawsuits. I expect new lawsuits in the future to seek retribution for the lost four years and I expect them to be successful. The government can't commit an illegal act against shareholders and then tear that four years out of the calendar. In happier times (and I was here), the dividend was 50¢/share/quarter. 2012-2016 was highly profitable for both F&F (like pre-2008) and we, as shareholders, were denied any access to that profitability. While I would like to see the heads of the perpetrators impaled along the mall in Washington, I will settle for some form of repayment for the ills suffered. The government can't pretend it didn't happen.
I assure you there are people here who would not agree with your wimpy, powder puff solution to the illegal NWS. A nefarious group huddled up in a back room somewhere, decided the conservatorship route first chosen would not be enough to close down Fannie and Freddie, decided to go the net worth sweep route; hoping to force eventual receivership, with an eventual outcome of F&F business in the hands of their cronies at the TBTF banks. They lied to anyone willing to listen about the dire situations Fannie and Freddie found themselves at the time of the third amendment. Then, as if a miracle took place, the first financial reports after the NWSs were put in place showed that both entities were profitable! The NWS was nothing more than an extension to an ill concocted scam already begun at the time of the conservatorship.
From 2012 - 2016, Fannie Mae and Freddie Mac have been hugely profitable and for four years, you, as a shareholder, have been denied any ability to share in the prosperity of corporations you actually own. For some reason you don't think you've been damaged?
Move to the back of the line kid and let the real shareholders have their say.
In this particular case, it's just grabbing at straw anyway.
Every time Epstein writes though, he never mentions that shareholders had their rights, as owners, suspended for four years and, for example, had no say in the choice of BOD members which has taken place. Shareholders were also financially damaged over the four year, NWS period by being denied the opportunity to share in the great prosperity of Fannie and Freddie that they would have been entitled had there been no government interference and meddling.
As a law professor, these items should be high on his list if he's really advocating justice for F&F shareholders. The equity holders were treated as if the government was the owner of the two corporations when quite the opposite was true. It was, from any viewed angle, a full blown and illegal nationalization within the border of the United States.
Go ahead and tell us you were a Hillary supporter all along!
Dropping long term capital gains rates from 28% back to 15%, as they once were, is on the Trump drawing board so if for nothing else, I would wait and see. Those rise in tax rates got tacked on to the back of the Obamacare bill, unknown to most voting on its passage. It should have been known but as you recall, nobody read the entire bill. Remember Pelosi's idiotic comment?
....and other legal minds have commented on how lousy and lazy his opinion really was. The panel will have to paint their picture carefully so as not to embarrass a judge who shirked his duty.
You,as a shareholder,have been damaged. If you want to let that part slide with the government, that's your prerogative but there are many others here that don't agree with your choice.
"Whether Mnuchin is a “plant” inserted to steer Trump’s ship in favor of globalism or not, he is doing the right thing by declaiming against the two government mortgage giants. They were unconstitutional from the beginning, have cost taxpayers billions, and should be jettisoned as soon as possible. It remains to be seen if they really do wind up on Trump’s “top 10” list after his inauguration."
WHAT UTTER NONSENSE!
Do you never give up on these horse s**t predictions?
LOL! It's hard to imagine Gasparino even has a shred of credibility left. He's in the hall of fame for inept news reporting already so I don't know what he could do to move up out of the pond scum.
Muolo's math ain't too hot! 1.158 billion shares X $4.86 (in his example) is not $28.01 billion. He's apparently trying to count the warrants (which haven't been converted into common stock) and will be eventually deemed worthless anyway so he's written a piece with bad numbers (already been done umpteen times). Credibility goes right out the window.
Yep! Those in receivership can't even pay the light bill. They don't have to worry about turning out the lights when they leave.
Fannie and Freddie could own the power companies! Huge difference.
All of the posturing is pretty funny since there's really nothing wrong with Fannie and Freddie in the first place. Their only mistakes, in the past, were not checking behind the banks and lending institutions to make sure they were adhering to the guidelines (which they were not doing).
They keep bantering around the word "reform" but any reform needed is with the ones doing the hollering.
If Whalen truly believes what he said in the piece, then he is not aware of all the facts. Sort of embarrassing to be speaking from a point of authority and only know half the story. Josh could have and should have really made Whalen red in the face if he wanted to do so.
For the most part but not all of them. Once F&F are released, there will, in all likelihood, be NEW lawsuits filed seeking damages for the period 2012-2016. With the government "takeover", shareholders were usurped of rights and unable to share in high profitability through dividend distributions because of the illegal seizure. The government has been accused of and did go way past its legal rights as pertains to Fannie and Freddie. So expect new lawsuits in the future unless the government can offer up an acceptable settlement, to the satisfaction of shareholders.
Word on the street is that a certain, fruity WSJ employee has swallowed something other than male private parts....it's now his own tongue! All compliments of Fannie and Freddie. LOL!
Giant gap in circumstances. AIG asked to be bailed out, F&F were forced to be bailed out; all the while not needing to be bailed out.
In his interview, Mnuchin said that Fannie Mae and Freddie Mac shouldn't be government owned. Someone please inform him that they are shareholder owned and have been since 1969 and 1970, respectively.
His confusion, I suspect, is with their illegal nationalization in 2012!
........................Lawn Jockey!
$5.69? I'll go out on a limb here and say it will be within $2 or $3 of your estimate!
Thank you for being lucid. It was done on purpose and with purpose!
Let me see if I've got this straight.....a Goldman Sachs alumnus is going to save our hides and bring us prosperity by setting us free?
For you newbies and get-rich-quick folks, it was a damn Goldman Sachs alumnus that got us in this mess to start with and the ensuing scam almost put Fannie and Freddie out of business!
Yeah, that what we need!
Good one navy but not quite as good as the fellow who was going to dress up, properly, as a liberal for Halloween but found that his head was too big to fit up his ass!
"Non-payment of taxes"implies that taxes were owed and not paid.
In Trump's case, I would like to see your examples.
You can probably make your post a sticky.
What you want to bet that after all the dust settles, Stein will be a card carrying member of the Clinton Foundation?
"Fannie Mae (OTC Bulletin Board: FNMA) today announced that George W. Haywood has been elected to the company's Board of Directors. He has been appointed to the Compensation Committee and the Strategic Initiatives and Technology Committee. Mr. Haywood joins an accomplished Board that will help guide Fannie Mae as it fulfills its mission to provide access to safe, affordable mortgage financing in the United States."
I just wanted to thank those of you who voted to elect Haywood to the BOD. I was not able to vote since my rights were suspended in the nationalization. I'm wondering how any of you got to vote too with that suspension of rights. Also, the functions of the BOD were overridden by the nationalization so I'm wondering why Fannie needs a BOD, each drawing a great deal of money annually for doing absolutely nothing.
The dregs of society won't accept the Michigan certification!
Never have, never will......however obvious the results might be!