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Exactly! Counting on interest from this judge is like counting on the IRS to let you not pay taxes. Government ALWAYS screws the little guy.... why? Because they can. Takes billions to fight them because they have unlimited taxpayer funds to waste.
With all those lawyers it's a wonder we the shareholders are not splitting one penny between us.
Who structured that questionnaire? Lameberth? I bet his instructions to the jury had a lot to do with low award and no interest.
Looks like everything's going to tank today anyway... Fitch is saying it wants to down grade the whole banking sector, which would put a slew of already lower rated banks at failures door. Markets not taking bank failures happily. Shows you how connected MM's and bankers are. Oh well, what's another stolen couple 100 billion from the GSE's to bail out the bank cartel???... AGAIN!
It says purchaser may, in other words treasury may, meaning they do not have to. There was a whole court case for the GSE's that hinged on the stupid wording of a clause using may, a long while back. Essentially this part of the amendment is only enforcable if the treasury decides to bail.
It's beyond ludicris and belief that they need "political cover" to do anything on this when 98%-99% of the population doesn't give two shits about this and does not understand the situation,,and it's implications, not even the judges are savy enough!. It's both sides in DC acting like the Hatfields and the McCoys and some parlay that was done when this started, to keep us in a never ending purgatory. There's a group, I believe, that came to an agreement to leave us as an open wound, since neither wants to budge on comprimising.
DC has come to be an acronym for Dysfunctional Criminals, there's no other logical interpretation based on the over all approval ratings of the Snate, Congress, Courts and each new administration.
Did the shareholders even break even, who brought this case to fruition? After many years and lawyer fees? I thought they also asked for JPS par, massive conversion, etc. Wha'happened? They didn't even get 1 years worth of dividends.
Yes, thankful a case was won, but the reward is a joke and detrimental to anyone else thinking of filing anything. In my opinion.
Much has been said about that, but a few won cases would be needed to take a legal challenge up is my guess. Governments not going to volutarily shut down the whole HERA/NWS/funding mechanism of FHFA without a group going after them with deep pockets. They make the laws, they can ignore them. Just witness what's been going on for 3+ years.
Chill brooge, just the government pushing it's banker cartel into deeper manipulation. I'd expect even if the win was major we'd see see-saw stock prices. It's going to be weeks before a true or (manipulated) price is had. If indeed more cases are won later, the government and their MM cartel will have a much more difficult time manipulating this as more hands take notice.
Much appreciated that you took the time to keep us all in the loop. It's criminal that they disallowed so much in Lamberth's court room.
Based on those numbers on the Katie B. X msg....did the expected award get halved?
Government appeal in 5...4...3...2.......
Power move! You deserved it after being duped by kite guy.
If this ends up affecting negatively FNMA shares, I will buy more for sure.
Fnma commons not involved with suit... Prefs only.
Not a wiff of news on this decision. Corrupt as all hell
Guido, based on this info from navy : only in America can government costruct and enforce companies into phony (fraud) bankruptcies to pay for what they can't get by Congress.
Many, many other companies and countries WILL have issues with these emails and documents still hidden, if the media would giddy the hell up and report honestly on it. I have no doubt, there would be major blow back by any foreign companies and by their governments, if they are located in the USA. That's where Obama's presidential privelege comes in, bank on it.
One thing is absolutely for sure...no matter what the verdict from the jury is, the stocks will be manipulated and chicken littles will be screaming tomorrow or whenever a verdict gets released. Personally, I hope for the best, a win. Secondly I hooe it gets hung and Lamberth is made to look the fool for his games. Third, no matter winmor lose on either side, there will be an appeal, unless Lamberth uses more banana Republic judicial moves.
Good luck fellow fighters. Hopefully some small semblance of justice is won.
Keep it going guido. Don't forget to forward it every now and then to the banking comittee in DC (Distrct of Crooks)
Hey! Wasn't this supposed to be the hyped contract claim case, where the plantiff ask was a riuling for conversion and making JPS full value par, then also massive back dividends? Seems there was a guy or two really pushing that not long ago??? Now...crickets
We get pennies if we're lucky enough to get a unanimous jury. If that happens it's more important the government loses face in the media, because then hopefully reporters with guts will step up and start hammering the illegal taking.
Could care less about Sweeny! She'll be prolonging rulings FOR the government from her grave.
The warrants are an insurance policy, nothing more. Exercise would only happen in full bankruptcy. As soon as they try while in conservatorship, BOOM there goes 7 trillion on the public debt for 100B free housing. The public realizing that they've been saddled with annextra 7.1 trillion debt would be out to hang everyone in DC. Although, we do have about 33% of the population who are easily fooled and know zip except the word free.
Hopefully the jury keyed in on that statement! Easy enough to understand and is the basic explanation of why shareholders are in court.
I'm still not convinced this will get a complete jury verdict. It's either going to be most the jury for plantiffs or more for government, then a juror or two who hold out. I'm hoping if most lean toward government at least one with a conscience stands their ground and hangs the jury.
Finally! A good post.
Yes! There are many, many who believe everything government tells them. Your first responsibility as an informed citizen is to always be skeptical, especially when they say I am from the government and I am here to help. Never have there been uttered more corrupt words as those.
RickN has a Lamberth call...it goes something like this....Suuuuueeeeeeeee
Maaaan, you are really stretching. Everyone is hedge fund blah, blah, blah. This is how you lose any and all credibility. Stop with the nonsense. Provide proof (solid) to your accusations, or stop.
Anyone wiliing to construct this letter? I will sign it. No question.
Maybe that's his plan?.....mistrial or hung jury, so he doesn't have to correct his own screwed up prior ruling. When you're a megalomaniac, you look for an escape hatch when you're cornered because nothing matters more than you're own interpretation. SCOTUS cornered him when they kicked it back down for him to assess damages, when he ruled incorrectly. So, maybe he's doing the spoiled child routine? Megalomaniacs will do pretty much anything to avoid being wrong or viewed as wrong.
What about the inbetween snack? Pork rinds
The more Lamberth opens his mouth, the more you can tell he's been coached by the government. He is absolutely in the tank for them. Our hope lies with the one or more who will see through the judges bias. Once it gets hung again, there should be no question as to a different judge and possibly a different location.
But then Lamberth will probably cancel the jury and force his own decision. I have no doubt he will try something oppinionated and arrogant.
There is hope! Hopefully one or two wiser and smarter jurors than last time, stand their ground and make Lamberths blood pressure skyrocket with a second hung jury.
If a solid VP is picked (which there are many) who especially has the same view on the GSE's, it can get done. If solid majority in congress and senate to back the next president, there's no reason this can not get done within the new administrations first or second year - at the latest.
Wow! This one was hidden until now.
https://dailyhodl.com/2023/08/05/262000000000-exits-jpmorgan-wells-fargo-bofa-and-citi-in-one-year-as-government-reveals-collapse-of-another-us-bank/amp/
Yet we're supposed to believe government is running the GSE's on the up and up?
Did not know or see that. thanks
Lawyers only need to state the government wants to capitalize and preserve and conserve the GSE's so badly that they are robbing them to death.
Say that about 6 times a day in court and the jury will have fewer doubts
They should have added a slide showing since 2008 through to 2023 zero dividends for both shareholder classes
I gotta pretty good feeling the Charlie Munger FAKE sleeps on a couch in an apartment with 4 others, in Miami, and hangs on the beach all day, in a fanniegate HQ shirt that needs a good washing.
Sweeny was the judge who became expert at running out the clock for shareholders! She was no judge. It's obvious why she was moved up inmposition while she still had shareholders over a barrel, postponing everything shareholder and alliwing government massive lee-way. Lamberth is just more obvious than Sweeny was, Sweeny loved creating false hope for shareholders while allowing government eons of time for rebuttal or other garbage the government threw at her. He allowed the government lawyers a ton of orders that added many years to the case she handled (can't remember which case), in her court plantiffs were always one step forward and two steps back, while the opposite was true for the government lawyers.
Amazing any court is allowed to disallow information and ludicris it can allow redacted information...the term truth in justice burns in a dumpster fire in Lamberths court. Gotta hope his special place is ready for him....down below.
you got that right! Those in JPS need to smell the coffee. Each quarter that goes by with NO CONVERSION gives them thinner and thinner ice to make their argument. The capital raise banshee cry used to be 200 billion and everyone realizes that was unrealisric THEN, and is un-needed NOW....look where we are! Look at the profitability!
The government will absolutely not release until they have confidence (sound and solvent condition) in GSE's to be financially self sufficient, even though the banks keep screwing the housing market pooch about every 6-8 years or so. Government/treasury are way too affraid of bank runs, hence slap on the wrist for them, yet FnF is being built to a fortress of solitude capital level, wink, wink, just in case the government clown pose needs to cover for their banker buddies again, because hey! That's where all their campaign contributions come from now, lmao. Look no further than the constant migration of X-bankers to treasury and X-treasury people to banks. Doesn't take genius IQ to figure out what is going on.
Ignoring political ramifications is detrimental to your investment in this.
Ironic and unbelievable they bring up FnF's previous congressional lobbiests sometimes! The GSE's did and have done far, far less damage lobbying, to the housing market, than the banker cartel has done via numerous historical financial crisis's.
Why is any capital raise needed? The stress tests all point to negative need for that and there is no reason for a par payoff of JPS if government relinquishes it's made up debt owed by the GSE's. JPS keep pushing this capital raise scenario, and have been since the first allowance of retained earnings, now at over 110 billion!!!. THE GOVERNMENT HAS BEEN COMPENSATED IN SPADES! They absolutely know this and it has been verified by a handful of folks in government. Also, releasing the GSE's while needing a gigantic capital raise is not keeping with the conservators job of putting in a "sound, solvent condition" BEFORE releasing.
People can dream of large capital raises and outrageous conversions, but that is not the end target of a true conservatorship, no matter how much you want that to be. Understand that no shareholder currently wields any power over the government since they have "assumed our rights and privileges", and even though we all know this is more of a nationalization than a conservatorship, the government gets away with the nationalization for 15 years by using conservatorship.