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This meeting was also March 3. Look at their faces.
Sheila Greenwood, FHFA’s Director of External Affairs, updates @WHF_DC on Director Calabria’s accomplishments and the progress being made to end the conservatorships of @FannieMae and @FreddieMac pic.twitter.com/Idw7HckDmn
— FHFA (@FHFA) March 3, 2020
We are good to go now that it is confirmed that the FHFA structure is unconstitutional.
Bye Bye FHFA, Cship, Consent Decree, Cash Retention
FHFA in it's present form cannot even be a regulatory entity.
makes me think Scotus will not wait until end of June to rule on the CFPB case, hopefully
This means conservatorship should never have been done.
Sweeney can relax and opinion now.
So as of now FHFA is affirmed unconstitutional
IMO the 600 employees of FHFA will not be needed, only a dozen or so regulators.
Yes, they can!
Good point. As a reminder, USPS is also public as well. Anyone can write to the SEC and get their own letter back on the warrants if they so choose.
The person was not an insider. Court rooms are open to the public.
The guy that was maybe possibly in the courtroom to hear this news is deep on the inside. If you can gain his trust, he's got an SEC letter that'll knock your socks off.
Hearing minutes will be out fast
Maybe some of us were I court and heard it.
Looks okay to me.
That's HUGE
Thank you JW
Now we know why Calabria won't publish his capital rule.
FnF announced CECL accounting standard of $0.2 billion and $1.1 billion, respectively, as of end of December. With the slump in the Treasury Yields year-to-date, they will drop their expectations to $0 in their next earnings report.
It means that their Capital needs are $0. This is why Calabria conceals his proposed Risk-Based Capital requirement.
The JPS are obligations and don't reflect the enterprise value of companies that earn $20 billion together.
Who is the illiterate in Finance that still holds even 1 JPS?
PUT YOU HAND UP IN THE AIR!
I wrote yesterday and asked how to get to the data. This smells imo.
EPIQ brags about how they handled the largest chapter 11 in history then before it's done they wipe all the data.
https://www.epiqglobal.com/en-us/results/restructuring-bankruptcy/epiq-takes-on-largest-chapter-11-in-history
I have clicked on every button and can't find one that takes me to LBHI dockets.
Your assumption is correct. I can't find anything while searching Lehman Brothers, the case number, or just plain dockets. Nothing meaningful comes up. I put a written request in yesterday for help. I think everyone should go to the contact section and ask for an explanation of how to get to the data we were able to get to friday.
Camaro, I assume you asked the case number because you needed it for new Epic site to search dockets. Please advise how do you find Lehman dockets in the new Epic website. I thought I was tech savvy and web search is piece of cake but they've buried the data so deep that I cannot find anything now.
TIA
Slim
Anybody remember our case number?
https://www.epiqglobal.com/en-us#Debtors=1906&RelatedDocketId=&ds=true&maxPerPage=25&page=1
That doesn't sound promising.
Great thread.
DOES ANYONE ACTUALLY READ TWITTER???????
Post her a message!
Do you have a question for President Trump on Thursday night at our Town Hall? Send it to me and we may pick yours to ask the President.
— Martha MacCallum (@marthamaccallum) March 1, 2020
I did a screen shot of your message.
Now the link provided by Goodie is inconsistent, but brings up the dockets
https://dm.epiq11.com/error/not-found#Debtors=1906&RelatedDocketId=&ds=true&maxPerPage=25&page=1
Thank you Goodietime. I don't know why the other link didn't work.
What's wrong with the Lehman Epiq link?
https://dm.epiq11.com/error/not-found#Debtors=1906&RelatedDocketId=&ds=true&maxPerPage=25&page=1
Wonder what the gov't lawyers think of FHFA hiring another set of lawyers to negotiate?
FHFA to speed up shareholder negotiations
Posted with permission from Todd Sullivan:
http://www.valueplays.net/2020/02/28/subs-fhfa-is-looking-for-lawyers/
FHFA is looking for a law firm. The backstory that I am hearing is that they are not satisfied with the current pace of negotiations with shareholders. As we’ve said many times before, with the litigation outstanding, there is no way the GSE’s can emerge from conservatirship.
Here is the solicitation: https://valueplays.net/wp-content/uploads/RFP-FHF-20-R-0029.pdf
Scope of work: https://valueplays.net/wp-content/uploads/Attachment-A-Statement-of-Work.pdf
Exactly right.
Fake news.There aren't negotiations with an unconstitutional agency
This looks like another housing crash is on the way.
Brace yourself for a housing crash.
5th is Thursday
Sweeney is taking Treasury and FHFA to the woodshed.
Additional status meeting, why?
Huge news of Sweeney ordering everyone in status call March 5.
Where did everybody go?
First time I heard about damages.
THE WINDFALL IS IMMINENT. In #Fanniegate it's exposed the connivance between Washington Federal Plaintiffs and Fairholme, since WaFd points out in its status report filed yesterday what the Fairholme's attorney, David Thompson, already pointed out about WaFd's lawsuit in the recent Investors Unite Conference Call, contending that it's only different to Fairholme's in the theme that it challenges the imposition of the Conservatorship, which is a wrong allegation because it claims that the clause (G) is about past losses, when it's about the likelihood of future losses. So, WaFd misrepresented the law and the conservatorship can be justified with this clause (G).
Therefore, both omit that WaFd also challenges the Warrant, the initial $1 billion worth of SPS issued for free, the usurious 10% dividend and the use of FnF for Public Policy. All of it as part of dramatic appeal to the Constitution about a Takings claims and how the Govt actions prompted economic harm. It's worth noting that it's also omitted that WaFd filed a Class Action. This evident collusion among the plaintiffs to drop the most important allegations for the common shareholders, while WaFd clings to a flawed allegation, under the orders of a hedge-fund manager with a reputation of a career con man, is an evidence that all the lawsuits are staged with the participation of crooked judges. This has been spotted and it will advance the resolution of Fanniegate and fast reimbursement of what FnF are owed, plus damages to the Equity holders.
Amen and all seated.
Wish you were the judge.
All rise. Judge Argus presiding.
In my very humble and uninformed opinion, the lawyers will have to address each and every point Waske made. Kinda hard to deny Waske is right unless you think the judge is a fool and will believe every lying word you say. End game is not the time for lawyers to mess up. In the overall cash scheme of all things Lehman, this is not unreasonable.
Seems as straight written as it gets.
Some lawyer probably trying to figure out how to turn it into a corkscrew.
You know that ilk.
Waske way above my grade level. Obvious that he alluded that it could have been intentional, but gave them a face-saving 'out' that it was a mistake. Plan Administrator should go with it.
Waske was smart to give them an "out"...it could have been by "mistake"...we know it was no mistake...and so do "they". If I was the judge I would accept the reclassification because it is just and fortified by the prospectus and guarantee.
Looks like 6 times.
Docket 60447 reschedules to April 7.