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Calabria is not going to resign and so far Trump does not have the authority to fire him.
Excellent MannSinger. Hoping dividends start in the fall.
Don't we still need $235 Billion to meet Total Capital Requirements?
Achieved through C and P share raise?
According to FHFA doc- overpayment is prepaid asset
Navy,
FHFA doc also says overpayment will be treated as prepaid asset.
Download FHFA doc:
Just read relevant section in 400+ page using control F.
1. search for prepaid.
2. search for stock - it will show you fund raise by new common and new preferred.
It looks FED can give buffer $100B at 2%, then GSE will have 100B(FED) + 30B(GSE cash) +22B(loan loss reserve) +30B(prepaid) = $182B.
Relist, Release then recap
I'm fine with media staying away from our investment.
FMCC Common shareholders win big in this Capital Rule, Preferred shareholders hover below par until dividends are paid, if ever.
Punishment for the lawsuits
Capital Rule published. Very favorable. Talks of exiting cship.
Wait!!! You mean Common shares of Freddie are now Tier 1 Capital and JPS shares are not??? That's huge.
Read the 10-Q. Money is already there.
Convert the PDF to word, then you can rotate it to read easier.
Don't know if it was purposeful, but
In EPIC, they filed Waske's motion of objection
to the plan administrators objection, upside down.
Joe K.
Strong volume moving into power hour for FMCC
Nice clip Tutt.
Which judge ruled this? Thank you.
Last Friday's ruling had two big mistakes:
1- A conservator has no fiduciary duty to the shareholders.
2- A conservator can act in the interests of the Government.
These two mistakes are a blessing to the shareholders, in the sense that it doesn't need a minimum knowledge in Finance to determine that we are dealing with a crooked judge.
The fiduciary duty doesn't need to be written in a law to apply it, because it's related to ethics and a relationship of trust of the conservator with the shareholders and the enterprises.
For the same reason that the rights and powers were transferred to the conservator to fulfil this duty, but in a conservatorship, they later are returned, something omitted in the law but it's a common practice.
POTUS is aware of this behavior and I expect an unilateral resolution in 6 days' time.
The countdown begins.
The Trustee has received a letter already.
Someone should email our trustee or write them a letter to tell them they should investigate the Neuberger Berman transaction as it pertains to the fraudulent classification of the CTs. We need to alert them of what is going on and alert them of the potential fraud.
Can someone verify we won in Fairholme?
.@stevenmnuchin1 Wa Fed argues F&F NOT insolvent & illegal Cship was to save econ NOT presv/consv. "5th Amend bars G from forcing some people alone (SHs) to bear public burdens which should be born by publ as a whole.
— Fred Hamm (@hamchuansing) May 15, 2020
G conduct is not anymore acceptable by worthiness of purpose.
Yes, I do.
Does anyone else feel like sneaky squid may have modified the SPSPA and warrants , in stealth...
https://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx
ACG is not privy to Calabria's plans.
Start on page 28
Page 29 "Potential approaches to recapitalizing a GSE COULD entail one or more of the following, among
other options:"
They use COULD intentionally and then write all the scary scenarios, including receivership. Got to read close.
Plan is dated September 2019
https://dsnews.com/wp-content/uploads/2019/09/Treasury-Housing-Finance-Reform-Plan-EMBARGOED.pdf
Click on "plan to reform the house finance system" in the first paragraph of the article. Link will open a treasury pdf
https://dsnews.com/daily-dose/09-05-2019/gse-reform-on-the-way
That is why you do an LLRE for companies like Fannie Mae
LLRE ? Common Into LLRE, Preferred Left Behind...
Do you have a link for the Treasury Departmen Release Plan? Thank you.
From Treasury Dept release plan for GSE's:
The guiding principle for ending the conservatorships should be that each GSE should remain in
conservatorship until FHFA determines that that particular GSE can operate safely and soundly
and without posing an undue systemic risk. The specific preconditions for FHFA considering a
particular GSE’s exit from conservatorship should include, at a minimum, that:
? FHFA has prescribed regulatory capital requirements for both GSEs;
? FHFA has approved the GSE’s capital restoration plan, and the GSE has retained or
raised sufficient capital and other loss-absorbing capacity to operate in a safe and sound
manner;
Notice to prefs, it does not say that fhfa IS RESPONSIBLE to undertake raising capital, it does not say to do a pref conversion, it does not say to do a reverse split.
You gotta wonder if pref shares are even necessary at this point in the GSE's business since they ARE too big to fail and the government has proved this by forced conservatorship and said taxpayer bail out (which we all know was unnecessary). My point being...if government is going to say too big or economically important to fail, then why have pref class share that only counts on a liquidation that will never happen. Basically pref's are loaning the companies their money with no say so and no guarantee of coupon payment since the companies can postpone that indefinitely until healthy.
Geez 4Duxs, Glad you're here.
Jersey, my uncle just left the Maryland and was walking in the dock at Pearl. He never went back to Hawaii after the war. He lived in Washington til the old age of 96. I too hope we get something. It’s time to move Lehman on after a lost decade+.
Geez Jersey, you almost weren't born.
My father always wanted to go back and visit. Arizona memorial and such. He was a member of the Pearl Harbor Survivors group. But being we werent wealthy enough to do so he never could. He was a hit with his friends at the local VFW and Legion. They would have their beers and an hour later be fighting the Japs all over again. When he passed those 2 grouos gave pop a fine send off. Its suprising what we learn about one another on here.
Kudos to your uncle. I understand. Thanks
Trump knows he's being ignored and will get FnF out of cship himself.
it's BEEN Well OVER A YEAR NOW since this MEMO Issued on: March 27, 2019
as President by the Constitution and the laws of the United States of America,
hereby direct the following:
(i) Ending the conservatorships of the GSEs upon the completion of specified reforms;
CALABRIA - YOU'RE FIRED ! -
all you've done is GET EVEN MORE FAT on Rubber Chicken Lunches
https://www.whitehouse.gov/presidential-actions/memorandum-federal-housing-finance-reform/
Where did all that cash come from?
FnF are ReCap’d look at all this cash on hand.https://stocktwits.com/r/FNMA/me3YXbWaiL
Best Advice Ever.
SALT WATER GARGLE & upper respiratory tract infections (URTIs)
https://www.ncbi.nlm.nih.gov/pubmed/16242593
"CONCLUSIONS:
Simple water gargling was effective to prevent URTIs among healthy people. This virtually cost-free modality would appreciably benefit the general population."
Best Advice Ever.
SALT WATER GARGLE & upper respiratory tract infections (URTIs)
https://www.ncbi.nlm.nih.gov/pubmed/16242593
"CONCLUSIONS:
Simple water gargling was effective to prevent URTIs among healthy people. This virtually cost-free modality would appreciably benefit the general population."
I watch the counts, very troubling. I use this link. Click on USA for state by state numbers. Also, weather dot com has added a covid tab. Search on weather for your county and you can get your county covid count.
https://www.worldometers.info/coronavirus/
Fnma from $1.40 to $14 is a far better investment than Impho buy at $3.30 now at $1.40. Fmcc investment is far better yet.
first time I recall FnF complain about Cship
https://t.co/bZPyreKpZA?amp=1
Either one suits me just fine.
NYSE or NASDAQ for capital raise?
What’s your preference
EO is the fastest cleanest way to remedy this mess.
The brief of Amicus Curiae lays out a blueprint for the resolution:
• The excess of the SPS amount ($110 billion) must be reimbursed to the enterprises and the Treasury must set a low-rate yield on the SPS, payable once FnF are Adequately Capitalized. A rate that must be lowered due to the existence of the warrant, because that's what the collaterals do on any debenture.
• SPS cancelled (redeemed in 2013/2014)
• Warrant cancelled.
• Moral damages to the Equity holders, under a rule that considers the average gap to the fair value of each class of stock, had The Secret Plan and the Risk-Based Capital been made public.
All the lawsuits are fraudulent as they seek an agreement between corrupt plaintiffs and the Treasury to share the booty.
The resolution will be announced unilaterally by the Trump Administration.
Bump of Ano's Post
ano Thursday, 04/16/20 06:42:52 PM
Re: ano post# 600044 1.250
Post #
604895
of 605982
Fannie Mae & Freddie Mac Lawsuits (FNMA FMCC) updated april 2020
19-422 Patrick J Collins v. Mnuchin (Pending petition SCOTUS) .…Common & Preferred, Derivative
Claim: “for cause” separation of powers §?4512(b)(2)
https://www.scotusblog.com/case-files/cases/collins-v-mnuchin/
(Decided according to David Thompson 1 week after resolution in Seila Law, ~first week of july-2020)
19-563 Mnuchin v. Patrick J Collins (Pending petition SCOTUS)…….Relates to all cases
Claim: § 4617(f) prevents ruling on 3th amendment, § 4617(b)(2)(A) (i) forbids challenging the Third Amendment
(Decided according to David Thompson 1 week after resolution in Seila Law, ~first week of july-2020)
https://www.scotusblog.com/case-files/cases/mnuchin-v-collins/
16-3113 (4:16-cv-03113)
Patrick J Collins v. Lew …………………….…Common & Preferred, Derivative
Honorable: Judge Nancy F Atlas in District Court
Claim: “for cause” separation of powers §?4512(b)(2)
https://www.courtlistener.com/docket/4533994/collins-v-lew/
After appeal 17-20364, the 5th circuit remanded this back to Judge Nancy F Atlas in District Court, S.D. Texas, after a decision in Seila Law it will proceed (~first week of july-2020)
18-2506 (17-2185) (0:17-cv-02185)
Atif F Bhatti vs. FHFA……………Common & Preferred, Derivative
Honorable: Patrick Joseph Schiltz
District Court, D. Minnesota
Claim: 3th amendment & “for cause” separation of powers §?4512(b)(2)
https://www.courtlistener.com/docket/7379258/bhatti-v-federal-housing-finance-agency-the/
On appeal in the 8th circuit, Oral Argument 10/15/2019
http://media-oa.ca8.uscourts.gov/OAaudio/2019/10/182506.mp3
https://www.courtlistener.com/audio/65849/atif-bhatti-v-federal-housing-finance-agency/
(The court strives to issue the opinion within 90 days after oral
Argument or submission to a nonargument panel. http://media.ca8.uscourts.gov/newrules/coa/iops06-19update.pdf)
13-1288 (1:13-mc-01288)
In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement
Class Action Litigations ………………………… Common & Preferred, Class Action Direct & Derivative
Honorable: Royce C. Lamberth
District Court for the District of Columbia
Direct claim, breaches of contract, breaches of the implied
covenant of good faith and fair dealing, breaches of fiduciary duties,
and violations of Delaware and Virginia law governing dividends
If the Direct claims is denied it also claims these Derivative: breached of fiduciary duty, compensatory damages and disgorgement, breached the terms of the certificates of designation and the implied covenant of good faith and fair dealing, appropriate equitable and injunctive relief to remedy breaches of contract, breaches of the implied covenant of good faith and fair dealing, breaches of fiduciary duty, and violations of Delaware and Virginia Corporate law, including rescission of the Third Amendment. https://www.courtlistener.com/recap/gov.uscourts.dcd.163155/gov.uscourts.dcd.163155.71.0.pdf
https://www.courtlistener.com/docket/4212341/in-re-fannie-maefreddie-mac-senior-preferred-stock-purchase-agreement/
The Class:
1) N. Bradford Isbell ....... Common
2) Michelle M. Miller ...... Common
3) Charles Rattley ………… Common
4) Timothy J. Cassell ...... Common
5) Joseph Cacciapalle .... Preferred
6) Marneu Holdings, Co .. Preferred
7) United Equities Co ….. Preferred
8) American European Insurance Co ... Preferred
9) Barry P. Borodkin ....... Preferred
10) Mary Meiya Liao ....... Preferred
https://www.courtlistener.com/docket/4212341/in-re-fannie-maefreddie-mac-senior-preferred-stock-purchase-agreement/
Fact discovery Shall close on April 30, 2020, Trial is set for March 31, 2021 (with a pretrial 30-60 days before)
17-497 (1:17-cv-00497)
Rop v. Federal Housing Finance agency…….Common & Preferred, Derivative
Honorable: Paul L. Maloney
Claim: voiding 3th amendment & “for cause” separation of powers and
striking down HERA 12 U.S.C. §§ 4511(a), 4512(b)(2), and 4617(a)(7)
District Court, W.D. Michigan
https://www.courtlistener.com/docket/13521280/rop-v-federal-housing-finance-agency/
No next Date available (waiting on Collins, as document 64 says “notice of supplemental authority concerning Collins v. Mnuchin” )
18-3478 (2:18-cv-03478)
Wazee Street Opportunities v. United States………Common, Class action, Derivative
Honorable: Nitza I Quinones Alejandro
Claim: voiding 3th amendment & “for cause” separation of powers
District Court, E.D. Pennsylvania
https://www.courtlistener.com/docket/7681282/wazee-street-opportunities-fund-iv-lp-v-the-federal-housing-finance-agency/
Aug 2, 2019 Stipulation and Order doc#36 (waiting on Collins as document 38 says Supplemental authority filed by Defendant ….. in the matter of Collins v. Mnuchin, No. 17-20364)
19-7062 (1:18-cv-01142)
Joshua J. Angel v. BOD of FNMA,FMCC & FHFA-C ….….Preferred, Direct
Previously assigned to: Honorable: Royce C. Lamberth (18-1142)
https://www.courtlistener.com/docket/6880882/angel-v-federal-home-loan-mortgage-corporation/
Claim: Breach of quarterly BOD duties, breach of contract, breached the implied covenant of good faith and fair dealing, breach of contractual rights for dividends, Breach of implicit guaranty on Junior Preferred dividends
District Court for the District of Columbia
On appeal in the United States Court of Appeals for the district of columbia circuit
https://www.courtlistener.com/docket/26534/joshua-angel-v-federal-home-loan-mortgage-co/
Judges Henderson, Griffith and Wilkins will decide Mr. Angel’s appeal without the need for oral argument that was planned for Tues., Apr. 7, 2020
13-1439 (1:13-cv-01439)
Arrowood Indemnity Company v. Fannie Mae……Preferred, Direct & Derivative
Honorable: Royce C. Lamberth
Claim: 3th amendment, breach of fiduciary duty, breach of contract, breach of the implied covenant of good faith and fair dealing
District Court for the District of Columbia
https://www.courtlistener.com/docket/6995674/arrowood-indemnity-company-v-federal-national-mortgage-association/
(Related to case Arrowood 13-698C & Joshua J. Angel, 18-1142 Doc# 3 & 89)
Fact discovery Shall close on April 30, 2020, Trial is set for March 31, 2021 (with a pretrial 30-60 days before)
13-1053 (1:13-cv-01053)
Fairholme Fund, Inc. v. FHFA……Preferred, Direct & Derivative
Honorable: Royce C. Lamberth
Claim: 3th amendment, breach of fiduciary duty, breach of contract, breach of the implied covenant of good faith and fair dealing
District Court for the District of Columbia
https://www.courtlistener.com/docket/4212077/fairholme-funds-inc-v-federal-housing-finance-agency/
Fact discovery Shall close on April 30, 2020, Trial is set for March 31, 2021 (with a pretrial 30-60 days before)
Document # 116 Mar 18, 2020 Order on Motion to Modify
----------------------------------------------------------------
Cases in Sweeney’s U.S. Court of Federal Claims
---------------------------------------------------------------
20-121 (20-122) (13-465C) (1:13-cv-00465)
FAIRHOLME FUNDS, INC. v. United States………..Common & Preferred, Direct & Derivative
Honorable: Margaret M. Sweeney
United States Court of Federal Claims
Claim: **SEALED** 413 AMENDED COMPLAINT (Entered: 03/08/2018)
Redacted version without coercion attacks available at:
https://www.docketbird.com/court-documents/Fairholme-Funds-Inc-et-al-v-USA/REDACTED-DOCUMENT-filed-by-ACADIA-INSURANCE-COMPANY-ADMIRAL-INDEMNITY-COMPANY-ADMIRAL-INSURANCE-COMPANY-ANDREW-T-BARRETT-BERKLEY-INSURANCE-COMPANY-BERKLEY-REGIONAL-INSURANCE-COMPANY-CAROLINA-CASUALTY-INSURANCE-COMPANY-CONTINENTAL-WESTERN-INSURANCE-CO/cofc-1:2013-cv-00465-00422
March 9, 2020 the interlocutory appeal was granted the
CFC identified six “controlling questions of law” raised by its order, the first three of
which pertain to the CFC’s decision to dismiss Petitioners’ direct claims:
(1) Whether the court lacks subject-matter jurisdiction over plaintiffs’ direct
claims for breach of fiduciary duty and breach of implied-in-fact contracts.
(2) Whether plaintiffs who purchased stock in Fannie and Freddie after the
PSPA amendments lack standing to pursue their direct claims.
(3) Whether plaintiffs lack standing to pursue their self-styled direct claims
because those claims are substantively derivative in nature.
The last three controlling questions identified by the CFC related to its decision
to deny the motion to dismiss Petitioners’ derivative claims:
(4) Whether plaintiffs have standing to assert derivative claims notwithstanding HERA’s succession clause.
(5) Whether the [FHFA-as-conservator’s] actions are attributable to the United States such that the court possesses subject-matter jurisdiction to entertain plaintiffs’ derivative takings and illegal exaction claims.
(6) Whether plaintiffs’ allegations that the FHFA entered into an implied-in-fact contract with the Enterprises to operate the conservatorships for shareholder benefit fail as a matter of law.
http://www.glenbradford.com/wp-content/uploads/2020/03/20-121-0002.pdf
By no later than 14 days after the completion of that process (interlocutory appeal), the parties shall file a joint status report in which they propose further proceedings, if any are necessary.
1) 13-466C Joseph Cacciapalle ………..………… Preferred, Class Action, Direct*
2) 13-496C American European Insurance.…. Preferred, Class Action, Direct
3) 13-542C Francis J. Dennis ………………….…. Preferred
March 27, 2020 above 3 Plaintiff’s think none of their counts should be dismissed
4) 13-385C Washington Federal v. United States . Common & Preferred, Class Action, Direct*
April 2, 2020 Plaintiff argues None of the claims in Fairholme apply to their case
5) 13-608C Bryndon Fisher (FNMA) .........….. Common Derivative*
6) 14-152C Bruce Reid (FMCC) …………………… Common Derivative*
7) 13-672C Erick Shipmon……..…………………… Common Derivative
March 27, 2020 above 3 Plaintiff’s thinks their claim is substantially the same as Fairholme
8) 13-698C Arrowood Indemnity Company . Preferred Direct*
April 6, 2020 Plaintiff’s think none of the Fairholme counts apply to their case
9) 14-740C Louise Rafter .........…………………. Common Direct & Derivative*
March 31, 2020 plaintiff continue to stay until 21 days following resolution of Fairholme
10) 18-281C Owl Creek Asia I L.P...........………. Preferred, Direct *
11) 18-369C Akanthos Opportunity Master Fund .. Preferred, Direct *
12) 18-370C Appaloosa Investment .........……. Preferred, Direct *
13) 18-371C CSS LLC ……………………………………. Preferred, Direct *
14) 18-529C Mason Capital L.P...........………….. Preferred, Direct *
March 26, 2020 above 5 plaintiffs don’t want to give up the direct claims and doubt the counts in Fairholme properly represent their counts, and point out the law was breached
15) 18-1124C Wazee Street……………….………… Common, Class Action, Direct & Derivative
16) 18-1150C Highfields Capital………………….. Common & Preferred, Direct
17) 18-711C 683 Capital Partners………..……….. Common, Preferred, Direct
18) 18-712C Joseph S. Patt………………………..… Preferred, Direct
19) 18-1226C Perry Capital LLC……………………. Common & Preferred, Direct & Derivative
20) 18-1155C CRS Master Fund LP…..…………… Preferred, Direct
Above 6 Plaintiffs are staying
21) 18-1240C Quinn Opportunities Master LP… Preferred, Direct
Plaintiff above is untraceable, if you have info send it so I can update accordingly
* Jones Days plaintiffs
Sisti v. Federal Housing Finance Agency
Case number: 17-005 (90-1762)(17-042)
Honorable: John J. McConnell, Jr
District Court, D. Rhode Island
Claim: FHFA, Fannie Mae, and Freddie Mac are government entities
https://www.courtlistener.com/docket/6900150/sisti-v-federal-housing-finance-agency/
March 24, 2020 Stipulation ~Until - Set Scheduling Order Deadlines
The Parties report to the Court that they are currently re-engaged in negotiations aimed at resolving the action. In order to afford the Parties with sufficient time to complete these discussions and discovery (if necessary), the Parties jointly request the Court extend the scheduling order deadlines by three (3) months to the following:
Factual Discovery to close by 6/30/2020;
Plaintiff's Expert Disclosures shall be made by 7/30/2020;
Defendants' Expert Disclosures shall be made by 8/28/2020;
Expert Discovery to close by 9/30/2020; and
Dispositive Motions due by 10/30/2020.
https://www.courtlistener.com/recap/gov.uscourts.rid.41482/gov.uscourts.rid.41482.53.0.pdf
When decided FHFA, FNMA and FMCC are government entities for matters of constitutional claims of due process and will confirm the paragraph nobody can take action while in conservatorship.
Seila law v. Consumer Financial Protection bureau
Decision in the last 2 weeks of June 2020
Case number: 19-7 (17-56324)
Court: Supreme Court of the United States
Claim: “for cause”” removal violates the separation of powers
https://www.scotusblog.com/case-files/cases/seila-law-llc-v-consumer-financial-protection-bureau/
Transcript of argument on Tuesday, March 3, 2020.
https://www.supremecourt.gov/oral_arguments/argument_transcripts/2019/19-7_j4ek.pdf
Audio: https://www.oyez.org/cases/2019/19-7
1) Questions asked by plaintiff: for cause violates the separation of powers
2) The Court added a second question: can for cause be severed from Dodd-Frank Act
Plaintiff and the government agree on the first question that “for cause” violates the constitution, but disagree on the second question
Plaintiff contends reverse the judgment and either decline to reach the question of severability or declare it is not severable.
The government argues that the Court should remand for further proceedings.
(The decision in this case will decide on Collins SCOTUS 19-422 “backward-looking relief” witch the 5th circuit en banc declined)
There is no need to uplist preferred shares as they are rated junk. Common shares soar to $200.
Preferred shares [are NON - CUM !! ]
No need to pay and Ps can’t claim past dividends as clearly stated the dividends again are NON - CUM
Investors won't invest in China.
They won't invest in USA either given their treatment of Fannie Mae and Freddie Mac.
The courts HAVE to rule in our favor, at least partially. If they DON'T, they certainly MUST know the precedence they will be setting and that that will be the END of America as we all have come to know it. Who in their right mind would continue to invest here knowing that Gov can step in at any time and confiscate property rights? Investors around the world will flock to China as China will become the dominant player in the global economy if for no other reason than cheap labor/manufacturing costs. Just what the globalists wanted.
I hope you're saying first half of next year.
$300 next year $FMCC
$30 sounds good. $100 sounds better.
Now that news is coming out that CV started in a bio lab 1 mile outside of Wuhan, your scenario sounds likely. It's a takeover of the housing market, make citizens fail on their mortgage and China buys the distressed properties.
Was COVID-19 a world Government take over of private property????
Was it a way to take over and start the process of becoming a One World Government run by Global elites
One must wonder ????
Ben Carson to discuss housing and opening the USA business on Fox News 10:30 est