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The information is there. There are upwards of 20 banks that are in the process of defending themselves or will be defending themselves against suits that are being brought forth by the FHFA on behalf of Fannie and Freddie. Each bank being sued has an associated dollar amount. If you add the potential awards from all these banks it totals upwards of $200B. The basis of this is the precedent that has already been set by the courts in both the BOA judgment and the more recent denial of a motion brought forth by UBS to allow for additional time for discovery. The FHFA and the courts are letting the banks know that the jig is up bub.
That's what they tell you on the topic of the "big" issues. What they don't tell you about is what all the "pork" is that gets shoved into these bills. So while they pander their "sellable" bs over the airwaves they hide the stuff that we all cringe over, like granting Monsanto with 50 years of "no fault" operations where they have been given a license to experiment on you and all others that eat the standard American diet. They will not get prosecuted for 50 years even if they end up poisoning the entire food supply with genetically modified organisms and a host of dangerous pesticides, herbicides, and other chemicals administered to your food by men wearing chemical suits and gas masks. So while your local reps are patting themselves on the back over "terrorism" or "gun, lol, control" they are sticking a giant you know what in your bum.
It the same blind governance Americans give up on so many levels. There is no such thing as passive patriotism or passive activism. We can not just cast a vote and then feel like our job has been done. Just like dropping your kids off at school does not absolve one of their parental obligations to educate, and discipline, children, neither can we put officials in office then expect they will do the right thing while we go back to our lives of selfish consumerism.
Fnma is just one tiny example of a government running amok on the people's dime.
I wonder what the official language of the NWO will be?
There is a conspiracy in America....it's the illusion of freedom.
That would make you an independent thinker though and American sheeple don't like when others see things they don't.
America is like the fat guy in Mall Rats that can't see the "sailboat". You see it. I see it, but to most of America that sailboat is a gd conspiracy. It must be right? Because they don't see it.
That's hard to believe. That's like being a 20 year old human and today they ask what that big yellow thing is that glows in the sky.
Fannie Mae and Freddie Mac are American household names.
If these posters have the means to post here they have the means of doing a simple Wiki search...if they insist that they have really been under a rock for so long that they have never heard of them. Puhhhhlease...excuse my disbelief.
Who would be able to guess since the CEO runs this like his own private enterprise. He does not address The share holders other than to take more money for the worthless paper he panders.
Want to make money in the weed biz? Get a quarter pound of some good hydro for around $1000 and break it down into quarters and sell it. Even if you are a first timer with no clients you are bound to make more money doing this in less time than RIGH will give you a ROI.
It's not over pumping. The bottom has come and gone.
Now every few weeks there is news of growth, recovery, and profits.
That changes the conversation. It changes it at every level. Perhaps you have heard of the Wall Strret Journal, or the Mötley Fool, or Bloomberg News, or Huffington Post?
All of these publications and others that are highly regarded news sources have put out very compelling articles recently in support of the broad recovery and the last years success and current successes of Fannie and Freddie.
So who really has the colored lenses?
You are correct. With more stringent lending requirements in place this is a different company now. Amazingly the company bounced back like it was made of flubber. More amazing is the steal of a PPS you can pick it up for.
This will be a giant feather in the dems cap for the 2016 dog and pony extravaganza.
And just think, you too can ride on their coat tails for under $1 per share.
Fair? Ha that's a good one. Like naked shorting when there clearly is no liquidity issue, that kind of fair?
Not around anywhere. That's why people are so swayed by those who use logical fallacy to make an argument. But then you knew that
Perhaps you should. Common sense is not very common.
This IS just negative conjecture. No one knows the future. Fannie and Freddie are the only game in town and this is 5 years since they were taken over by the conservatorship.
5 years and the gov has made no changes to their business other than with respect to their "interest only" loan repayment to the government.
No one in the private sector is looking to take any market share either.
The world financial markets are all in a delicate situation. There is plenty of volatility. How is that any different for anyone else that could even if they desired to enter into this business?
Like em or not FAnnie and Freddie are still the only game in town. Government needs to, as the CEO stated yesterday, get on with a decision here quickly. Their indecision is a risky game. 5 years and all we have seen is a blatant 5th amendment violation.
To boot every new news story states FNMA is strong. They state wrongdoing by others that is filling f and f coffers. Paulson scratching his head because he did not evaluate this correctly back in 08. AIG regulator states that F and F should and deserve to survive. WSJ and Mötley fool state they should be released from conservatorship. Huff post says it, the financials scream it.
In fact the only ones not championing the release of f and f from illegal government occupation is the gd government and some very short sighted individuals.
If anyone is trying to use some artistic liberty with the FACTS here it is not the long side. It IS clearly the intent of many in the government to use the taxpayers bailout as a buy in for the governments trip to the casino.
And while none of us know what the future will bring that is precisely why the gov needs to sell back the shares in exchange for the satisfaction of tax bailout dollars returned to the people.
Talk about talking out of both sides of your mouth. Your position is completely devoid of logic. You only chose the gov argument as it suits your short position not out of concern for the housing market or the publics exposure to long term mortgage liabilities as the greater liability rests in having the gov continue to balk. Good grief!
Could you please repeat this to a Lawyer so we can get the class action suit started. And for god sakes, can we clean house next election and remove every last incumbent. These m- f ers act with complete impunity and disregard for the people or the law.
Which is why everyone posting here long has a real damn good reason to post their opinions to lawmakers. Tweet it, email it, call it in but if ihub is your only outlet you are not doing Fannie any favors.
Ft hood is only one of 10. Interestingly enough there are 10 sectors that FEMA has control over when martial law is declared and state governors are supposed to yield their control over to the non elected directors of these 10 divisions.
The language is all there in the homeland defense act and the more recent executive order that Maobama ushered in. Check the PANDA website for more recent developments or YouTube Jessie Ventura's show that was cancelled despite the stellar ratings. Hmmmm?
I know. I've seen them. I have also seen the 10's of thousands of plastic multi body coffins they don't want anyone to know about and all the ammo needed by DHS to murder every American citizen who doesn't toe the line for NWO.
But the sheeple don't see them. Even when they are being shoved into a rail car they will remain convinced this is the train to club med.
Lol. No worries. Wonder what we shall see come next week. Someone sure is in deep Doo Doo here. Not even Eli has shares this cheap this deep. Going to be interesting to see what desperation this shorter chooses.
It's funny, need liquidity in a stock whether you are short or long. There being so little liquidity in WAFR it makes you wonder why someone would choose to short this I guess they thought longs were going to line up and sell at a loss. Instead there is something far better happening here.
Stay tuned.
Side line banter? That's why Floyd Mayweather went after Larry merchant. Making safe calls of ambiguity from the safety of the sideline.
Like the lotto buddy, can't win...or lose if you don't play. But who cares about that?
In is where the action is.
It's a pretty gosh darn good indicator I'd say.
Powering up the reactor cap'n. we're ready for warp speed.
But then one would have to believe that FEMA camps really exist. :)
And you are correct. Some deserve that, they are the ones in gov that created the environment that fostered that behavior which incidentally are among the same that ordered the construction of those alleged camps. :)
That's just emotion speaking. The news loves to pander their yarn by playing on emotions. The American sheeple love it and eat it up like hungry hippos.
But just like in business as it is in warfare as it is in relationships, emotions lie. Emotions don't render sound judgement. Emotion can make you broke or get you killed.
If someone try's to hit you you don't need to get emotional to move out of the way or block it, you just need to move or block it.
To fix FNMA or the greater health of the economy we need to merely put forth old fashioned requirements like logic and critical thinking to work like: having a job, a good credit history of repayment, a high credit borrowing amount history that shows the ability to pay a similar amount off, a commensurate cash amount to put down. These are time proven loan criteria fundamentals.
The banks et al were giving money away to all that could scrawl their name on an application with little collateral or credit history. They were creating designer ARM loans with interest only options.
This was a house of cards.
The crack dealers may sell the crack but the customers never stopped lining up to buy it. So now how can the same crack heads cry for justice when they were just as culpable as the crack dealers?
No emotion is needed to correct this. No shutting down of a needed service is required, just good sense criteria for making deals.
As it is many including FNMA have been censured. The banks are on the chopping block right now fir their part. Next maybe those that provided the bogus ratings?
At any rate we have a capitalist society. This is the truest form of democracy. If the conditions are so bad you would wonder where the competition is that should be looking to take some market share. We don't see that.
We have also seen in cases like Airbus, and Boeing with regard to passenger safety issues they did not fold. They corrected the issues at their own expense and they are still among us. Toyota had brake failing issues. The corrected it they are still here. Mazda had steering wheel locking issues, they are still here.
Food companies like Jack in the Box had e-coli, Hellman's had bad mayo, peanut butter companies had tainted PB, yet all of these companies survived and moved on.
America typically has the attention span of a gnat and the memory of an Alzheimer's patient. They also like a comeback story. All of these companies came back. So what, now we HAVE to set an example with FNMA, a company that has come back from the brink like all of these above?
If that is true, why now? Why Fannie and Freddie?
No it's not like that at all. That's not a logical argument.
A logical argument would be:
Say you have a bridge that connects two major points. This a high density well traveled route that 80% of the drivers in this area use. The bridge however was found to be in need of some serious structural repairs.
One idea is to scrap the bridge and build a new one. But the new one would disrupt the traffic flow for years to come and cost billions to build which collectively cost trillions in cost plus loses to the taxpayers and users of the bridge. Plus there is no new site selected or purchased to build the bridge.
The other idea is to fix the current bridge. Sure the tragic flow might be impeded for a period of time while addressing the various structural issues but eventually all weak or failing areas could be corrected and in fact improved which would yield the capacity for an even greater flow of traffic.
Hmmm. I wonder which is the more plausible scenario?
I wonder which argument uses logic?
I never understood the notion of bashing a company for having too much market share. The answer to this is competition. Sounds like there is room for others to jump in. Until then its not the governments responsibility to screw with. They don't do anything efficiently.
If the American taxpayers want an alternative some company needs to step up to the plate. Until then there is no reason to continue to bash a profitable and working entity. Any real estate and loan professionals can tell you the criteria has tightened up. The moves made in the last year by the loan industry and fnma are solid and as a foundation moving forward it will hold under the increasing demand.
I think yes. I also think a bright lawyer CEO might see this as a very good time to leverage FNMA's recent good news by airing it out to the public in a very big way. Bloomberg, Erin Burnett, major CEO, 1/2 hr before mkt close....end of day is going to have a pyrotechnics show for FNMA longs to enjoy. Tomorrow should be a fun day to end the week with.
Gotta wear shades.
They both amount to the same thing
1 for 20 is .05 or 5%
Sorry it took me three posts to say that.
1.05 is not 1:20. One is a multiple the other is a ratio.
If you multiply your number of shares by 1.05 you will get the amount of shares you will have once the dividend is distributed.
Any # x 1 = that number. The .05 is your 5% so your shares times 1 plus 5% = total shares post divie.
1.2 would be a 20% divie.
Ok. But what you are suggesting is akin to betting on of it will rain. Maybe not today, maybe not tomorrow, but rest assured it will rain. And in the case of FNMA I sure wouldn't want to be caught SHORT without an umbrella.
Really? What if by means of a war with N Korea, international market volatility or other external forces the current housing market boom is reversed? The government has not converted any of their shares for a return on taxpayer equity. That means that the cash cow they have is misappropriating taxpayers divies for use in other branches of the government and the taxpayers have yet to see any return of their principle equity. If the housing trend reverses and F and F start taking loses again we taxpayers and shareholders lose it all. That would be not only dumb but irresponsible and highly illegal. We taxpayers did not tell the gov, "here take this tax $ to stabilize F and F, but once they are feel free to use that same $ like you are at the casino, don't worry about paying it back". Talk about a sheit storm of legal issues and political issues.
This is highly illegal what they are perpetrating. But you would need a cursory education in American civics or history to know that and these days education means being barely literate. Despite most young folks not being informed everyone still has a vote and an opinion. They just aren't worth very much.
Won't the $11b from BOA be included in this Q?
Wouldn't that make it a min of $70b Q?
Which part? I believe we are saying the same thing except I added that the class of preferred shares the government holds are receiving a divie.
Since the only class of preferred shares getting dividends are what the treasury is holding the commons are in the same boat currently as the other classes of preferred shares. There is virtually no difference between the two right now other than the pps and the conversion ratio. Time will tell who is on the wrong side of the trade.
It's obvious they are shorting with increasing fervor and urgency today.
Some sheeple need to sack up and stop selling into it.
Easiest way to get robbed in penny land is to set a stop loss. It's like chumming for shark when they should be chumming for tuna....as in buon fortuna!
Sounds like discovery evidence to me. Time to file the class action. What's taking so long?
Force their m'fing hand!!
Change.org is another good site for online petitions. They have helped a good many causes
Done. Tweet it out. Facebook it. Spread the word. This is fir all Americans. Not just shareholders.
What news do you get? While in the US conditions appear to be improving the rest of the world is far from good. And even here this may be illusory. 2012 brought us "occupy", riots in the streets of: Madrid, Rome, Lisbon, and now Cyprus. In fact, the only foreign economy that is in legitimate recovery is Iceland, but you'll never read about that in a US newspaper or see it on the news because Iceland bailed out the people and arrested the Banksters. This is quite the opposite of everyone else. The US is among the only nations that the bailouts appear to be working. And that's not a coincidence. We are the home of the Rothschild Federal Reserve Bank. We dictate the terms to the world because of our mercenary forces aka the US Military.
Don't get me wrong. I'm riding the tide and very pro FNMA. But the gov is playing with fire. Our recovery is made of gasoline soaked tissue paper. Obama form of socialism seems intent on socializing these loses and privatizing the profits.
The longer the fed controls FNMA the greater the potential for them to have this blow up in everyone's face.
They need to exit stage right while the getting is still good.
That's a good point about the CEO, "baiting the line", his recent, "foreword looking", statements about the profitability for the, "foreseeable future", indicate an intent on keeping this a continuing business.
The housing recovery is a sensitive bitch though. There are external forces that can derail it from many sides.
In this respect the government is playing roulette with the tax payers investment. Right now they look like heroes because the recovery is going well and the bailout "appears" to be working. But they are acting like a first timer in stocks or the casino which is to say that they appear to be gold struck with the go up only notion by taking the profits from FNMA as dividends vs selling their preferred class of shares for a return on equity. Well that's not a very responsible thing to do with tax bailout dollars that a great many were against in the first place. Disaster averted, mortgages secured, game should be winding down and the Feds should be exiting FNMA. They could call this a bipartisan win right now and take a big pat on the back from the taxpayers. However if they insist on winding down fnma and at the same time sucking the dividends out and misappropriating those divies in lieu of returning taxpayer equity they are violating the 5th amendment and risk losing that current win status and further risk having the blame put on them for foiling a housing recovery, which leads us back into recession, and quite realistically puts 80% of the current mortgages back at risk as well as the taxpayer equity.
We all know these guys think they are the smartest in the room but they are playing with political fire and the losers will be everyone in the US, and all holders of securitized home mortgages....again!
These bastards would have a hard time getting a job at Wallmart if this happens. No Hillary or Biden in 2016, no re-election for numerous house incumbents, years of lawsuits in federal court, no bueno! Epic fail for sure.
This is the message that needs to be repeated to this gd government right now by everyone. Taxpayers, homeowners, and shareholders all have vested interest here. Spread the word, get political.
FNMA is no run of the mill penny.
Big past and ideally a bigger future. Especially in the near term.
This is OTCBB best in breed for re-listing on NYSE. If green light is lit by the Feds the pps will take care of itself and those guys will be clambering for shares.