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What, don't eat there?
I went to this buffett in Salt Lake City once and it was so bad that the cockroaches were running the place
On a note regarding the future fluctuations; we've had both Blue and Golden Cross sightings today, what's the over/under on a move up?
Fanniegate Blues #7: Fannie & Freddie are Indentured Servants
Fanniegate Blues #5: E for Evidence
Excellent, thank you!
also thanks for the link to the charts
So you are essentially saying that it's unlikely that Carlos' application will be successful.
Er, what gives you the impression that this Administration has any interest in "saving taxpayer money"?
There's the usual carrying charges and Treasury has to pay itself back.
Let the GSEs Rock
it's time to Let the GSEs Rock!
Blind Sheep Investor is reporting on #FANNIEGATE:
You get music too, but the GSE BALLADS* are some serious re-por-tage and none of them other fellers or gals even play a guitar when they talk GSEs::
GSEs: Now, Not Later:
Morgenstern, McLean and also Matt Taibbi have covered aspects of #Fanniegate over the years, but none have visited the subject recently. Maybe it's time for a followup?
Yours is a better word choice, I agree
--accurate coverage is what ACG is providing.
It's amazing to me as to how many news organizations as well as individual journalists that have (obviously willfully) misinformed their readers on the GSEs over these twelve+ years.
ACG is definitely legit
I did the same research as you did, and ACG a real brick and mortar outfit. Also they are giving #Fanniegate positive coverage, and have therefore been right as opposed to the MSM paucity of coverage other than the negative coverage that has been their forté (but thus affording them their status as mostly consistently wrong lo these many years).
er, highly doubtful they are hiring them as an employee. They are likely contracting with a firm that does this kind of work.
Carlos' theories often are in search of some actual facts, so it's best to stick to factual observations with him, such as "What time is it?" as his answers may be independently and immediately verified.
Watch The Ballad of Fannie & Freddie:
Watch and Like the mother of all GSE Ballads; #FANNIEGATE is government theft so big it has Folk Songs!
Watch The Ballad of Fannie & Freddie:
Watch and Like the mother of all GSE Ballads; #FANNIEGATE is government theft so big it has Folk Songs.
You too, can complain to the SEC
Er, you do realize that the person you are responding to is "Carlos"?
While our erstwhile companion's "Complaint" may actually have been made to the SEC, it is not a legal filing, and it will not make a ripple in the swamp.
https://www.sec.gov/oiea/Complaint.html
GSE YIELDS FOREVER
GSE Ballad: Where Did All the Profits Go?
Here's something to ponder about Fannie & Freddie:
I'm just gettin' warmed up...
what's the Nooch, the 4th Treasury Secretary since the heist? He'll be gone soon I'll bet, maybe we'll get Kudlow or Laura Ingraham haha
So keep on keepin' on, this may take a while but look how much fun we're having...who's in charge, oh yeah Steve...
An IRS official filed a complaint alleging that he was told that at least one Treasury Department official tried to interfere with an audit of President Trump's or Vice President Pence's tax returns, according to The Washington Post, citing people familiar with the complaint.
https://thehill.com/policy/finance/464297-irs-whistleblower-said-treasury-official-might-have-tried-to-interfere-with
It's been a battle all these years, but look where we are now. Despite the many prognostications of doom from every quarter lo these many years, we fight on. There are many heroes in the #FANNIEGATE Revolution, many people doing their thing independently or in small groups to fight the power, now what's more terror er populist than that haha
FIVE STARS, thank you <eom>
Steve of course is in Da Bidness, so he gets the importance of a Super-Villain having his own Theme Song:
Steve the Nooch (Die Moritat von Steven Mnuchin)
You left out the Escrow Account; according to Ebano, Treasury owes these companies billions. It's in the Table of CONtents, under "Blue Sky In The Pie Provisions".
Spot The Carlos
Thanks for Playing
These are perilous times for our Republic
so I tried to do a song that fits the zeitgeist, whatever that is...
GSEs: Now, Not Later
I can't reply to your PM so I'll just say here that I'm not surprised to hear you say you are limited to one post a day; hopefully you're right, and I'll post on any boards I want, you can go pound sand.
A Sage Observation...Sigh... <eom>
Thank you. So this article is somewhat misleading (?)
You haven't been banned, there's a tab up there on the right, and you're fine. Carry on...
But what's a negotiated settlement anyway?
Let's book the Party at a Trump Hotel
When in Rome...Let him know we've booked a lot of rooms and we're gold....
https://www.politico.com/news/2019/10/02/trump-hotel-empty-rooms-016763
“Now we’re looking at near raw bribery,” said Rep. Gerry Connolly (D-Va.), a House Oversight Committee member who chairs the subcommittee with jurisdiction over Trump’s hotel in Washington. “That was the risk from day one — foreign governments and others trying to seek favor because we know Trump pays attention to this.... It’s an obvious attempt to curry favor with him.”
Thank you-- ...but is this true when a bank sells the loan in a bundle to a GSE?
Cheaper to Keep 'Em?
For TBTF Banks, who wouldn't want a Fannie and Freddie for offloading risk? Check out that photo, difficult to believe they would allow anyone to build that close to the Atlantic Ocean...
https://www.marketwatch.com/story/climate-change-could-impact-your-mortgage-even-if-you-live-nowhere-near-a-coast-2019-09-30?siteid=yhoof2&yptr=yahoo
"" But one of the more active ways banks unload climate-change and flooding risk is by reselling mortgage loans to Fannie Mae FNMA, -4.44% and Freddie Mac FMCC, -5.29% , which desire the liquidity, the paper says. These entities are the mortgage guarantors that are under tax-supported government control, though have been tagged by the Trump administration for a shift to the private sector. By rule, primarily because their mission is to expand homeownership, Fannie and Freddie cannot factor disaster-related risk, for instance living in a flood zone, into their mortgage pricing in the way that the commercial banks originating these loans can. ""
The Long GSE Wail
GSE Hotel California
He said mid 2021-ish for redemption value, a 250% return in 18 months, Common will need to be $9 to beat that return. $9 is definitely possible but there are also lots of uncertainties for the Common that are just as definite as we move forward from here. JPS offers a little more certainty and good value for the cherry picker.
Did you read the article?
"" Thus, Bove is changing his position on Fannie's and Freddie's preferred shares. After three years of recommending that investors buy them, he now advises them to hold the preferred shares. He believes they are fully valued at the current price, adding that the Fannie Mae preferred S Series shares are up 267% over the last three years.
However, he also advises that investors who own preferred shares not sell them. He is still convinced that is some point the preferred shares will be paid off "with a sizable profit for investors," but he believes the common shares are overpriced. The real problem with the preferred shares is that there may be no resolution until the middle of 2021. ""
How about this?
--shareholders and taxpayers have endured twelve years of government control and we have gotten this, despite the Treasury taking $110 Billion more than they "loaned" the GSE's:
'In their current state, the GSEs will fail in an economic downturn"
That's a link to Cloudcuckooland, where anything can happen and there is pie in the sky.
Here, in the real world, however...
https://en.wikipedia.org/wiki/Certiorari
In the United States, certiorari is most often seen as the writ that the Supreme Court of the United States issues to a lower court to review the lower court's judgment for legal error (reversible error) and review where no appeal is available as a matter of right. Before the Judiciary Act of 1891,[21] the cases that could reach the Supreme Court were heard as a matter of right, meaning that the Court was required to issue a decision in each of those cases.[22] That is, the Court had to review all properly presented appeals on the merits, hear oral argument, and issue decisions. As the United States expanded in the nineteenth century, the federal judicial system became increasingly strained, and the Supreme Court had a backlog of cases several years long.[23] The Act solved these problems by transferring most of the court's direct appeals to the newly created circuit courts of appeals, whose decisions in those cases would normally be final.[24] The Supreme Court did not completely give up its judiciary authority, however, because it gained the ability to review the decisions of the courts of appeals at its discretion through writ of certiorari.[25]
Since the Judiciary Act of 1925 and the Supreme Court Case Selections Act of 1988,[26] most cases cannot be appealed to the Supreme Court of the United States as a matter of right. A party who wants the Supreme Court to review a decision of a federal or state court files a "petition for writ of certiorari" in the Supreme Court. A "petition" is printed in booklet format and 40 copies are filed with the Court.[27] If the Court grants the petition, the case is scheduled for the filing of briefs and for oral argument. A minimum of four of the nine justices is required to grant a writ of certiorari, referred to as the "rule of four". The court denies the vast majority of petitions and thus leaves the decision of the lower court to stand without review; it takes roughly 80 to 150 cases each term. In the term that concluded in June 2009, for example, 8,241 petitions were filed, with a grant rate of approximately 1.1 percent.[28] Cases on the paid certiorari docket are substantially more likely to be granted than those on the in forma pauperis docket.[29] The Supreme Court is generally careful to choose only cases over which the Court has jurisdiction and which the Court considers sufficiently important, such as cases involving deep constitutional questions, to merit the use of its limited resources, utilizing tools such as the cert pool. While both appeals of right and cert petitions often present several alleged errors of the lower courts for appellate review, the court normally grants review of only one or two questions presented in a certiorari petition.
The Supreme Court sometimes grants a writ of certiorari to resolve a "circuit split", when the federal appeals courts in two (or more) federal judicial circuits have ruled differently in similar situations. These are often called "percolating issues."
GSE’s are Bound to Roll
ONLY THE TREASURY