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Guys this was a motion to advance him to the floor for debate and for a vote to confirm. It's not over. Still many steps to go.
Wasn't this just a vote for a vote?
"Nomination advances" so that means he's in totally right? No more steps?
I don't understand what Calendar No. is. Is it 12th day of the month, or just the 12th item in order that they'll talk about?
So is that Mnuchin at 12:26 I see?
Is it a simple majority vote? Or the 60 I keep hearing?
Why isn't Ackman on that list? He still had his position of 110+ million shares in the 2017 presentation he gave.
Schumer didn't name Mnuchin as one of the two high COI and low competence candidates (for Dep. Education and Dep. Labor). Could be really good for us if Dems are strategically reserving their No votes for the two candidates Shumer named.
Who "publicly" owns shares asides from Ackman?
Pretty sure Mnuchin's confirmation is priced in at this point. We could see small bump with senate confirmation, but nothing huge. Would see a huge drop though if it didn't go through.
Kind of service you should expect from a $22,000/annual subscription hunk of junk. So many better and FAR cheaper ways to get your new today.
What's their slogan "Before it's news, it's on Bloomberg"
In my opinion, all that is needed for this to go up is congress coming up with a solid plan for its release. Time frame doesn't matter too much, pricing in of the plan will be enough.
They have one present, I guess they could start, but choosing not to.
"A couple members are coming"
Is that what I heard that guy whisper?
Looks like large volume buy coming in.
Counting the speakers here speaking well of Mnuchin. 3 so far.
Is Trump allowed to fire Mel Watt?
Do you know how much benefit the trial has on commons? I know nothing is certain for sure, but I've seen people say it mostly benefit preferreds.
Government HAS been smoothing things out in the free market. That is exactly the problem, they are getting to decide who gets smoothed down and who gets smoothed up. I can't think of one example where a monopoly came about with no government involvement. Government should only ensure that fraud is not committed and that property right are valued. Every other case results in a huge clusterfuck where their friends get rich and we are left with inferior products and services.
Going down on low volume. Won't be down here for long.
As is usually the case with government, their actions are made with extreme ignorance or criminal intent. Its why being right wing and advocating for less government power is the only rational stance. The amount of people that have run this country who were incompetent or malicious is astounding.
May Trump save us.
Right. It is a win for us, but we don't know how much, especially since there are some documents omitted.
Yes Obama is a thief.
Actually there is a good chance it will go lower
If anything the big run up on low volume was evidence that it would go down.
Ya, it's out of control but with all the momentum, who knows what can happen, we've never seen anything like this before.
I used the P/E from ihub fnma quote page
Thanks.
Me too, but like I said, I haven't valued a stock before, and this seems to be a bit higher than prior estimates. Still, the average of 20 P/E is likely to be respected. And momentum will likely carry it higher.
Predicting future value of ~$60 with P/E ratio.
What do you think of this, I've never valued a stock before, mostly just price action trading:
Current P/E is 0.28 at $4.16 with Market Cap of 4.83B and 1.16B shares in issue.
If we assume warrants are going to be exercised so government can claim billions and we get the other 80% of shares into the market, we can say shares in issue will be ~5.8B. Assuming all is the same, that would bring the current price per share to ~$0.84 per share.
If the current P/E is 0.28, and we say FNMA will fill the average P/E of ~20, then this would bring the price up to about $60 a share.
Is this a valid to anyone else? Also if they don't exercise warrants immediately after privatizing then and everything remains the same, going from 0.28 to 20 P/E is almost $300 a share. This might be preferable to the government, as it would bring the share price higher before selling.
Saw that, I think it refers to the scenario in which Trump settles the lawsuit, giving back FnF the 100+ billion they paid after paying back the initial bailout amount and after the NWS.
Someone correct me if I'm wrong.
The fact that there is a way to do this without congress and the fact that Trump likes to get things moving fast, makes me question his choice to involve congress at all.
Mnuchin can end NWS, Trump could persuade Watt to end conservatorship. Would they need congress to execute warrants?
Republicans know they do not need votes from across the aisle to confirm Trump’s cabinet. They have enough votes for the simple majority they need if they vote as a unified block.
Looks like Mnuchin is in.
Because Reps and Dems are both crooks.
Just look at how fast Trump is getting stuff done. Not even first week and so many things are done and wall is about to get started. Can't see FnF progress a week after Mnuchin confirmation. Trump loves executive orders and hates Congress, both the Dems and Reps, knows a lot of them are snakes and will use them as little as possible.
Agreed, elimination of FnF seems the most unlikely outcome. They are already well established and profitable institutions. Getting rid of them in place of government made institution is a disaster waiting to happen. Least profitable outcome for everyone and can't see Trump supporting such a blatant waste of money. Most likely win-win outcome is Trump releasing from conservatorship, ending NWS, and exercising warrants. Trump gets billions for his budget, and shareholders get what they want.
Also best case scenario for us is a court settlement in the order of a $100billion. If warrants are executed, the settlement wouldn't matter since the price of the stock will go up, essentially refunding the full amount on the ~80% ownership that they have.
Anything wrong in my logic?
Won't market continue to rate them as government backed even if they leave conservatorship? I mean, there is no clause that will prevent them from ever going back into conservatorship if they end up failing again. Who doubts that the government won't back them up again? Either way, their security won't change.
Why would they say he would be on CNN then? Worst thing you can say. In my opinion they tried to get him to make Trump look bad but he had none of it and didn't give them what they wanted.
WTF Icahn isn't on. It's some stuff about coal, trying to make Trump look like he's not doing shit because he did nothing in his first half week.