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Looking for a red day?
What? Himself?
You bet
Soon enough to stop sweep next Friday
The pumper dissapeared. Sold at 13. Always the same.
Keep them, when you try to sell, no buyer there.
Commons for the long run, not you.
Bad arts, poor devil.
You again? Haha
Diamond
Cooper next solicitor general. End sweep, revoke warrants, end cship and uplist to NYSE
Green today close
It's not necessary you reply every post. We all know what is your role here.
He is right, not optimistic, realistic.
No doubt, it will take place
Buy shorty
You are the man
Imagine when the documents were public and you read that GSEs didn't receive a penny from the 187 billion.
The biggest theft in US history.
#fanniegate $fnma Rumored trump executive order could get rid of HERA in one swoop, could be on his desk, will be huge It's been a long wait
Trump/Mnuchin know very well warrants are a taking and won't take part of it. Documents will show the scheme and that's the end.
Yes, me. And thousand of shareholders.
But take rest, it won't happen because HERA, FHFA and warrants will be removed from tandem Trump/Mnuchin
HERA cancelled by Executive Order
Warrant = taking
Again, review your DD.
Man, don't be ridiculous. How warrants could be sued if they have not been exercised yet?
Make you a favour and redo your DD.
Fantasy? Ok man I won't attack your ego, just follow Mnuchin words and you will understand the game
86/5 = 23 ?
Government did as they went along, judge Sweeney said that. Warrants were a tool just in case they could not recover the bailout. Later, in 2012 they changed the rules unilaterally to sweep all the divvies. Now, the last efforts are arguing warrants are a contract and should be made effective though 80% ownership. Wrong, it was a conservator, not ownership.
As I said, we are winning and team Trump/Mnuchin will make us whole.
Please
Never say never
Up to you
Reexamine the preferred v. common choice. The time frame for both gets moved up to within a year or two. The preferred still go to par, a mere 400% increase, plus the $5 annual dividend for a 40% annual dividend yield. Nothing to be ashamed of. In the same time frame, however, the common go from $3.89 to a range of $75 to $110, or 1,928% to 2,828% increase. That's one reason I own the common.
If you believe the 11,000 pages of withheld documents reflect that the SPSPA was a backdoor bailout of the TBTF banks at Fannie's expense, then the draws to make up the losses caused by FHFA requiring Fannie to buy MSB at par, then mark-to-market on Fannie's book all become damages. See the prior Seeking Alpha article examining FHFA's privilege log and speculating on that issue. Remember that Treasury has four times the withheld documents as FHFA.
Once Trump becomes aware of the contents of the withheld documents, assuming they reflect the bailout intention, and once Trump is informed Justice and Treasury will lose the argument to keep the documents privileged, he will have to settle on the basis that the entire FHFA was a fraud.
Now rerun the calculation. Instead of $37.3B returning to Fannie, the number goes to $154.4B (dividends) + $117.1B (draws) = $271B. Subtract a reasonable reserve. (Tim Howard, the former Fannie CEO has argued for $60B, (2% of $3T) here, so use that.) $271B - $60B = $211.5B . Divide by the outstanding Fannie shares after the warrants are voided, roughly 1.2B shares, to get $176.3 per share. Add to that the $75 to $110 per share common value above on a going concern basis to get a range of $251 to $286 per share.
If all this political change is upsetting to you, I advise you not to worry about politicians. There's nothing you can do about it, so better to not let it get to you. My engagement in this has a different purpose than dealing with politicians. There are a lot of people trying to influence the future composition of FnF and they are all trying to shape the future based on what FnF can do for them. I'm no different. Some may want to slice up FnF and sell off different parts to provide recapitalization money, I'm against that move because it weakens FnF and it strips away value that belongs to the shareholders. I think FnF are better for me and better for America if they remain in their current form. To this end, I'm trying to shine the light on options which would allow that to happen.
I was reading the SPSPA and found 2 paragraphs (6.7 and 6.11) which provide a quick way to completely unwind the conservatorship. The paragraphs say that if any part of the SPSPA is illegal, then the Treasury Secretary can write a notice to the FHFA Director ending the conservatorship and unwinding the entire conservatorship back to the point before the SPSPA was signed. All money sent to Treasury will be returned to FnF. Treasury returns the Senior Preferred Stock, and FnF returns the money Treasury fronted to them. FnF gets to keep all money over and above that money. All settlements by the TBTF banks that Treasury took gets sent to FnF because they were the bodies damaged by the toxic mortgages. Between the excess money sent to Treasury and the settlements, FnF are nearly completely recapitalized. Further recapitalization can occur over a 5 to 10 year period. At that point, their Government Charters can be swapped into private charters and they are free to proceed with business.
I am trying to make this option known to people who need to know it, and I have found applicable breaches of HERA which can be used to nullify the SPSPA and reverse the conservatorship
It my mind, this is the best possible long term solution for FnF as well as the shareholders. It doesn't appeal to those who want to carve up FnF.
Hang in there, we're close.
Imagine this stock in 1 buck... Life changer.
The Conservatorship was created based on authority created by Congress in HERA or Housing Economic Recovery Act. The SENIOR PREFERRED STOCK PURCHASE AGREEMENT or SPSPA was the contract by which the Treasury agreed to purchase "1 million shares of preferred stock" from Fannie Mae. This was to provide money to Fannie Mae to meet it's financial obligations.
There is a clause in the SPSPA that states " should any portion of the agreement be unenforceable, the Treasury Secretary can with the stroke of a pen completely unwind and reverse the entire conservatorship, including the return of all moneys exchanged". All moneys includes all money Treasury has taken with the sweep shall be returned to Fannie and Freddie. This can be found in paragraphs 6.7 and 6.11 of the SPSPA. I've been writing about it below:
I've been looking at the Restated SPSPA for Fannie Mae to see if there were any components which were predatory in nature, much like the predatory loan practices which caused the "housing bubble". I was motivated to look closer at these documents based on a phrase in Henry Paulson's Book "On the Brink" :
Thursday, September 4, 2008
Do they know it's coming, Hank?" President Bush asked me. "Mr. President," I said, "we're going to move quickly and take them by surprise. The first sound they'll hear is their heads hitting the floor."
There is no question that this forced conservatorship was a hostile takeover from the very beginning. It didn't have to be that way. The Treasury could have hired FnF to clean up the toxic loans. Not only was the takeover hostile, there were numerous provisions in the SPSPA which are common to "loan sharking". For example, did you know that there is a provision which transfers all of the power of the Conservator to end the conservatorship (except by receivership) to the Secretary of the Treasury.
TREASURY dictates FHFA Director meet Treasury demands.
From SPSPA:
5.3 Conservatorship. Seller shall not (and Conservator, by it’s signature below, agrees that it shall not), without the prior written consent of the Purchaser (Treasury), terminate, seek termination of or permit to be terminated the conservatorship of Seller pursuant to Section 1367 of the FHE Act, other than in connection with a receivership pursuant to Section 1367 of the FHE Act.
This is first major breach of HERA statutes. The very contract by which the conservatorship is initiated is a breach of HERA because FHFA Director cannot be further independent. Am I the only person that see's that the SPSPA agreement is invalid and unenforceable because it starts by breaking a law? You can't do that! You can't have a contract which contains a clause that a law must be broken as a condition of the contract.
The lead defining statement in first page of HERA: ESTABLISHMENT OF THE FHFA There is established the FHFA as an independent agency of the Federal Government not subject to the direction of any other agency.
From HERA:
‘‘SEC. 1313A. FEDERAL HOUSING FINANCE OVERSIGHT BOARD.
‘‘(a) IN GENERAL.—There is established the Federal Housing Finance Oversight Board, which shall advise the Director with
respect to overall strategies and policies in carrying out the duties of the Director under this title.
‘‘(b) LIMITATIONS.—The Board may not exercise any executive authority, and the Director may not delegate to the Board any
of the functions, powers, or duties of the Director.
The Director may not delegate to the Board (or board members) powers or functions of the Director!
Enjoy!
Still this warrants BS? Executive order will remove HERA so warrants are double dead. Stop it.
Guess what Trump has to say about Fannie Mae? Read between the lines on Core Principles (b) and (g). Yep, FnF making a comeback.
Presidential Executive Order on Core Principles for Regulating the United States Financial System
EXECUTIVE ORDER
- - - - - - -
CORE PRINCIPLES FOR REGULATING
THE UNITED STATES FINANCIAL SYSTEM
By the power vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:
Section 1. Policy. It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following principles of regulation, which shall be known as the Core Principles:
(a) empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;
(b) prevent taxpayer-funded bailouts;
(c) foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;
(d) enable American companies to be competitive with foreign firms in domestic and foreign markets;
(e) advance American interests in international financial regulatory negotiations and meetings;
(g) restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework.
Sec. 2. Directive to the Secretary of the Treasury. The Secretary of the Treasury shall consult with the heads of the member agencies of the Financial Stability Oversight Council and shall report to the President within 120 days of the date of this order (and periodically thereafter) on the extent to which existing laws, treaties, regulations, guidance, reporting and recordkeeping requirements, and other Government policies promote the Core Principles and what actions have been taken, and are currently being taken, to promote and support the Core Principles. That report, and all subsequent reports, shall identify any laws, treaties, regulations, guidance, reporting and recordkeeping requirements, and other Government policies that inhibit Federal regulation of the United States financial system in a manner consistent with the Core Principles.
Sec. 3. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
DONALD J. TRUMP
THE WHITE HOUSE,
February 3, 2017.
https://www.whitehouse.gov/the-press-office/2017/02/03/presidential-executive-order-core-principles-regulating-united-states
We have seen 1000% rise in one day other stocks, coming here?
If you think 125$ is a realistic target without warrants, then it is the start point. One guy said the key point, that is, Trump wants to finish all courts proceedings and discard all Obama's mess. Yes, HERA will be killed though executive order.
Maybe you knew it but didn't want to say.
Here is your guy
https://twitter.com/robneiman