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Well— based on Lamberths in court comments on friday, it seems to have worked on him
Also based on his prior rulings and interpretations and thoughts and general court charade—
My faith in the legal system is in tatters
Updated pic.twitter.com/F0A1AbUZKe
— Fanniegate Hero (@DoNotLose) August 6, 2023
If you think Lamberth’s comments Ftiday were insane, just look at what he said during the first trial pic.twitter.com/ZsaoosDRNl
— Fanniegate Hero (@DoNotLose) August 6, 2023
Yeah. Spspa liq pref is like a 1000 foot tidal wave vs a paddle boarder on their common shares whereas the jps are like a submarine, the only way to ruin them is to drain the entire tub through receivership where liquidation preferences — just dont add up basically
But these companies have more net worth than in history. Just a matter of time before they exit conservatorship recap and release
They bought liq pref. Committed fraud to buy it. But they bought it
no. what loan? it was equity the gov bought
I do not have the resources or incentive to file a lawsuit. I have explained this previously.
Okay good luck with that. Which lawsuit are you counting on?
look at spspa liquidation preference
He isnt me
Fmccj fmccn fmccm fnmao fnmap etc
I self identify as a skate boarder despite not having skate boarded more than 5 miles in the last 3 years and having no skate board for at least 1 of them. And yes, i see this as a case of the government trying to pull a fast one and because they have no analysis or paperwork to back it up, that is the case. Plaintiffs overcomplicated it last trial. They are more dialed in this one
This litigation has been fruitless but I have not been wrong about their being no alternative. Fannie and freddie are retaining earnings and will eventually exit conservatorship and jps shares have anti dilution protection so they will survive the onslaught of spspa conversion shares that functionally put any hope in there being meaningful upside to common shares to bed. Good night
1. i do not have the financial wherewithal to file such a lawsuit and see it through.
2. the statute of limitations has expired
3. i see the commons as uninvestible because the spspa wipes them out --- *winces*
4. the companies are retaining earnings on path towards an equity restructuring, which i think takes shape imminently, and the jps i own are senior equity because they have anti-dilution protection --- so i am going to get paid out regardless of me having to file a lawsuit
5. that leaves an impossible uphill battle to save common shareholders--- and no real economic reason to pursue it in a world where the courts basically bend over backwards to rule in favor of the government.
no can do.
i disagree.
this case is about negligence.
the government talks this big story about how they saved the world with the nws and this and that --- but at the end of the day the main point is that they, in my view on purpose, did not have any documentation backing up why they took this action. they brag about getting away with it. i mean, they stole and lied and there is no supporting evidence because it was a heist.
in my view the lack of any substantial analysis about the transaction before it took place in isolation is enough to win this case. that is what this case was about if you followed the first trial
I think having a ruling that they breached out contract is a win. Validates that we were harmed. Underreports the harm but is still immensely valuable. This case is very appealable
Casual reminder that fnma common shares are not part of this lawsuit.
The spspa liq pref is up big since the 2019 amendment that let the gses retain capital. This basically destroyed any potential upside for common shares in an equity restructuring
Less than that
Their argument is backed by scotus. Shrug.
Those are last years. This years come out in the first half of this next month and are what the capital plans written may 20th were built off of
I agree regarding the emphasis on admin action
Fnma isnt even a party represented by plaintiffs.
How many accounts does da devil have
study restructurings, you sound clueless.
Watch the outcome here $amc is getting zeroed out.
Plan accordingly. Take notes
Also keep oosting your fnma vs fnmas charts where you boast commons are doing better
Looking forward to watching jps move up
Yeah. I strapped my sign to my scooter and that day did not have a bike to lean it against.
I probably post that sign up 10x for every time i take a picture of it. I have taken lots of pictures. I am glad your favorite of it was the day it was not upright. I recall on that day i was meeting my friend who was undergoing a cancer diagnosis and so repping the sign was not the priority.
But you seem to post it in jest like somehow i am a homeless moron.
Sad to say you will be when this dilution en masse washes the shares you own over with mind numbing dilution. Enjoy the trial this week even though fnma commons are not part of it.
I generally see the shares as without any security. Will be interesting to see where they shake out. Expecting tragedy. Hoping for not that worst case for the people who believe in justice Nd hold out hope
Like a grain of salt being tossed into the ocean
Yeah fair point. Maybe those numbers are recognizable for commons. Who am i to judge. They do seem like people who cannot tell the difference
Diluted beyond recognition.
do you even think you know what you're talking about?
yeah that sounds mostly right. pretty weaksauce damages model.
fnma is not a party to this lawsuit
it is appealable to get in other damage models.
That sounds pretty close to right. Note that fnma commons are not part of this at all
sorry you feel that way. happy friday my guy. get those bases loaded.
Yeah pretty much. Commons are up for a nickel. Jps are up for the equivalent of a nickel in terms of their par value. Just that commons are vanquished mostly
i am aware that most people here are not capable of understanding the mechanics behind the restructuring that will take place in order for the companies to exit government conservatorship
Spspa restructuring drowns existing common shareholders in a sea of new shares.
they would be better off, everyone here would be better off if they had more junior preferred
common have no value in a restructuring and a restructuring is actually necessary for treasury as they lay siege to the companies' ability to access third party capital
Yep. Commons have zero security as they are underwater in this pending restructuring
If you are even split fmcc and fnma you may get a nickel per share out of this litigation if you are lucky. Fnma is not a plaintiff