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Bullsh*t!
The only news for today will be that Santa got the sleigh out of the shed and was checking harnesses and that sort of thing. There is never any Fannie and Freddie news, unless the news of settlement from the two foreign banks might catch your attention. Unfortunately, those payments will be scoffed into the US Treasury although they should, primarily, go to Fannie and Freddie.
We neither win nor lose, we just sit here and mold like cheese.
Get your business done on Friday. Markets will observe Christmas and be shut down on Monday.
From your story, you have wrecked a tractor trailer load of mirrors and stepped on a lot of cracks in the sidewalk! LOL!
You really shouldn't be investing in Fannie and Freddie!
For you and leggy.....
I'm thinking a 10 story or more building will solve all your problems. Take the leap of faith!
That date can't get here soon enough Patswil. That's when that gigantic garbage truck rolls through the District of Columbia and exits a much cleaner area!
If it looks like a duck, quacks like a duck, walks like a duck, then in all likelihood, it's a damn duck!
The warrants look like and smell like collateral, so I'm reasonably convinced they were an element of collateral. You know collateral, that security that all banks and lenders require when you are borrowing their money.
If not, then the United States government completed the deal of the millennium! They bought 79.9% of two corporations, worth in excess of $5 Trillion, for a measly $189 Billion...and without having to get the consent of the owners. Oh, wait a minute, those strong arm tactics have previously been reserved for the Mafia. What a dumb bunch those shareholders must be!
Don't I recall a time in the past where FHFA swore that it was not joined at the hip with Treasury? If they have to hold hands now to release Fannie and Freddie, they were Siamese twins all along. In other words, back in the day, Hank Paulson WAS conspiring with his buddies in the banking business to overthrow Fannie and Freddie; a point he has denied.
As I have mentioned before, Watt is nothing more than a stooge collecting a pay check. He had no backbone while serving a gerry- mandered Congressional district in North Carolina set up for blacks and has done virtually nothing since be appointed to the FHFA job.
He is a suit.....dressed nicely with no brain.
I don't know about that. Watt was pretty much worthless to North Carolina as a Congressman and as all of us can see, has been pretty much worthless as head of FHFA. He is nothing more than dead weight collecting a paycheck and occupying space. Anybody nominated for anything by Obama is virtually worthless in a democracy! I can't imagine Trump could or would want to maintain dead wood in the administration.
By golly, a deposit was made to my brokerage account and I am floored! Thanks for the heads-up guys.
On another note, DOJ, I thought, was confiscating property that the junior mobsters had accumulated. Shouldn't the shareholders also be entitled to the dollar value of those seizures? Wonder how that is ever suppose to find it way back to us? I know Scarfo, Puello, the two Maxwells, and the others had something of value. that they derived by hook or by crook.
Oh well, 2 1/2¢ will be half of what we just received so I think I might actually end up in the black. Who would have "thunk" it?
1999 - Now.
On what wall is this writing? I would like to read it for myself.
I think ripcord reached around pulled that opinion out of his
missile silo storage facility.
On your behalf, I consulted with Zager & Evans and they said the settlement should take place in the year 2525......said Sweeney will have run out of reasons to grant extensions.
You are in deep doo!
Relax robpad, there will NEVER be a court ruling! Now you can sleep better from day to day armed with that information; information that as bad as I hate it, is proving to be true.
I cringe every time someone mentions that POS's name. Corker is the poster boy for all that is wrong with government. Your analogy of Corker's shorting is duly noted.
I would prefer to hear of Corker playing soccer and the same thing happen to him that happened to Alan Thicke yesterday. In short, Corker would be on the way to the morgue!
NEWS:
Sweeney does a little bit more of nothing. With the help of a microscope, movement was detected.
Corker comments on Tillerson, a man light years more intelligent than that corn fed hillbilly.
Flip flopping share prices will continue to flip flop.
The cheerleader squad will really be disappointed to learn that Sweeney isn't necessarily on our side of the field like they have cheered. In fact, she's really gentle with the stall tactics of the government to such an extent that she might be on their sidelines.
Watt was in Congress, for whatever that may be worth, but he's set for life with retirement and healthcare. Remember, Congress takes care of itself.
I suspect both Fannie and Freddie can monitor themselves better than some bureaucratic pile of dung like the FHFA. If Watt won't go willingly, then fold FHFA into The Treasury and immediately declare it excess baggage under a streamlining mandate and be done with the entire mess.
Greed has converted the most honest of men! One close to this situation is that dirtball Corker in most recent times but Hank Paulson, Geithner, Bernanke, and all those POS had it in for the little guy along with all the crooks at the TBTF banks. A large chunk of Congress was in their pockets as well as members of the administration. It was the whole world of money mongers against mom and pop America.
From the Fairholme case:
The Net Worth Sweep was adopted not out of concern that the Companies would earn too little, but rather out of concern that
the Companies would earn too much and thus complicate the Government’s plans to hold them in perpetual conservatorship and to prevent their private shareholders from ever recouping their investment principal, let alone seeing any return on that
investment.
That's it in a nutshell! The government's effort to steamroll the little guys.
Have you ever, outside the playground as a kid, seen such a bunch of sore LOSERS?
During the sub-prime era, every Fannie Mae & Freddie Mac prospectus read in bold, all-caps letters: "The certificates and payments of principal and interest on the certificates are not guaranteed by the United States, and do not constitute a debt or obligation of the United States or any of its agencies or instrumentalities other than Fannie Mae."
And they still don't...........
Did you hear Delaney say that the government guarantees Fannie and Freddie's debt? I'll stick by my previous statement that not a soul in Congress has a clue!
Another stinking trade union! I hope Trump suffers temporary hearing loss when it comes time to deal with these deadbeats.
It's a matter of things can't get any worse for F&F with this present,criminal element in charge so yes, there is speculation that things will improve....and possibly, drastically improve.
If and when it does take off (and I'm reasonably sure it will), people don't want to be left standing at the station.
The markets are wrong in their assumptions.Implicit would indicate an assumed,word of mouth agreement that hasn't been put to paper. Look at the mission statements where it says there are NO guarantees from the federal government with both corporations. One can assume what one wishes but NO is pretty clear.
They have beat this guarantee thing to death. If any one of those commenting had read the mission statements of both Fannie Mae and Freddie Mac, they would know, without question, since it is stated that there is NOT and has NEVER been a guarantee.....be it explicit, be it implicit, be it oral, be it anal........THERE IS NOT ANY SORT OF GUARANTEE!
They are also private companies. There are members of Congress and of this sham administration that, to this day, believe the government owns Fannie and Freddie. Hasn't been so for decades!
You know it has slipped out several times in the past but some of the resistance to Fannie Mae and Freddie Mac coming out of Congress is nothing more than jealousy; and by some in government who thought they could use their positions in Congress to affect the outcomes for the GSEs. Those people are dregs such as Corker, Warner, Crapo, Johnson, etc. They were/are jealous that people like Ackman, Berkowitz, Paulson, etc. were smart enough to realize value in the GSEs and invest there; all the while standing to reap enormous gains and denying the Congressmen a chance to dip their hands in the cookie jar through their normal extortion type of activities. None only would I like to see the Congressmen and members of this administration lose, I would love to see all of them get crushed.
Listen closely in the future. You might get to hear some of them let it slip out again about the hedge funds possibly making huge profits by investing in Fannie and Freddie. Then you will know the basis for those comments.
Bruce Lee, CIO, said "The collateral is your house. When you’re borrowing money, the collateral you’re putting up is the house that you’re going to buy, so understanding the value of that house is very, very important."
Sound eerily like warrants, doesn't it?
Thank God he DOESN'T have a law degree.......you now, that piece of paper that has attributed to a great deal of the ruination of this country!
Since a number of people were involved in the Scam (scandal), the statement would have to be disregard of the law AND/OR incompetence.
A few disregarded the law, a few were incompetent, and quite a few of them were incompetent and disregarded the law. That covers the bases!
That's about right slacker. Why do these people expect anything out of our judicial system in the first place? It is all but broken!
I'm sorry, you're an idiot.
No doubt it is a class action because it says so on the title page. I had not seen that before or failed to see it back when.
Every couple of days, some of these newbies will make a post along the lines if you (the government) will release Fannie and Freddie from conservatorship, you (the government) can keep the warrants.
All this sacrifice from someone who bought 100 shares for 25¢!
Well, they sure as heck don't speak for me.
The warrants were collateral on the money advanced by the Treasury.
That's done in about any business transaction you can name. The warrants served as a security item in case Fannie and Freddie couldn't repay the money advanced to them. It doesn't matter if it was described as collateral or not, it was collateral in 99.9% of all such business dealings. Remember, this "deal" was structured by people who had ill intent for Fannie and Freddie's future and was done outside the approval of the equity holders in these corporations. These people writing the terms of the deal wanted Fannie and Freddie both dead and buried....and came awfully close to their objective.
If Fannie and Freddie are released from conservatorship and the warrants are somehow, miraculously, allowed to stand and not be declared satisfied, then the government has strong-armed the owners of the two corporations into the deal of all deals in the history of the World: THE PURCHASE OF 79.9% OF TWO CORPORATIONS VALUED AT $5+ TRILLION FOR THE PALTRY SUM OF $189 BILLION AND WITHOUT THE CONSENT OF THE OWNERS. YEP, THE GOVERNMENT WOULD HAVE BOUGHT APPROXIMATELY $4 TRILLION IN ASSETS FOR $189 BILLION....A PENNY OR TWO ON THE DOLLAR.
None of the law suits, to my knowledge, are class action law suits. Settlements would be with the plantiffs, for their interests alone. Of course, any settlement also establishes a precedent any other suits filed in the future.
As has been said all along, the evidence (which the government would like to hide) is pretty damning towards the government; a government which is corrupt and rotten to its core nuzzling up to those seeking monetary gain and position with disregard for the laws of the land.