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Absolutely. Everyone needs to put the Secretary of the treasury on speed dial. If you post here, post one on their website too. Let your gov know where you stand.
It does not require the unwinding of a company to establish a new criteria for lending. Good grief, is everyone a fricking first grader in this gov.? They have to have the toy taken away because two sides can't play nice?
Use your opinions where they will make a difference, call your rep, the Sec of Treasury, and the FHFA.
Long and strong FNMA.
Great post! This would be grounds to fire all incumbents. You can't just single F and F out and let everyone else play by different rules.
Get off of the cat boards and let the conservator, the treasury secretary and you senator know what you think.
Ihub won't do it for you.
How about it trading at book value at least? This is just stupid. Take away a forward looking PE and there is a crazy pile of assets and debt is evaporating quickly.
No good reason for this to be at this pps besides manipulation.
I would not leave that to chance. Pick up the phone, email your representative and the conservator, (FHFA), and the Secretary of the Treasury.
Why not GM, why not Chrysler etc.?
The problems did not all stem from F and F. They were sold a bunch of crap.
All long shareholders NEED to send a complaint to the following 3 entities to let your voice be heard.
1) the Conservator- FHFA the Federal Housing Finance Authority- go to the web page and file a complaint. Let them know you do not want Fannie or Freddie "unwound"
For Consumer Complaints and Questions:
Phone: 202.649.3811
E-mail: ConsumerHelp@FHFA.gov
All Congressional Affairs Inquiries contact:
FHFA Office of Congressional Affairs and Communications
Phone: 202.649.3802
2) the US Treasury Office- send a message directly to the Secretary of the Treasury
http://www.treasury.gov/connect/Pages/Message-to-the-Secretary.aspx
3) Contact your Congressman and Senators-
As shareholders and as taxpayers you have skin in this game. This is a must.
Also, why should we as the American tax paying public not be allowed to see that debt repayment and any profits that should come from the position the taxpayers took from providing the bailout? Guys like this want to screw the taxpayers and the shareholders and then let the government spin this into some kind of bs government backed mortgage operation.
No one needs or wants the government holding the note on their property. Good f-ing grief! Now that would be akin to letting the fox run the damn Hen house.
I suggest every long get on the phone and call your senator and congressman and tell them to let Fannie and Freddie out of conservatorship now that they are sailing on their own keel again.
How can anyone justify the winding down or break up or anything that dismantles a public corporation? They did not wind down GM, Chrysler, or anyone else that received a bailout! There is no way that this could be justified as a legal act.
The ship has righted itself after capsizing why on earth would anyone run it into the rocks EXCEPT to get salvage rights of the wreck that wold ensue?
I know our government is corrupt, we all know it, but for this to happen would broadcast it to the entire word.
The same system they claim was broken has allowed for it's recovery.
The only one's championing this are conveniently dismissing the fact that the Banks, like BOA, and others like S and P were responsible for falsely rating the mortgages sold to Fannie and Freddie. So was F and F really responsible now that federal court is ordering the banks to repurchase the bogus paper?
I listened to him on Cnbc earlier. F- him and Barney Frank. These scumbags are only long at how they can swindle this cash cow from the shareholders.
Fundamentals trump technicals. That's especially true in the face of blatant manipulation.
No one is falling for "the banana in the tailpipe", spinning dojo mojo routine pal. Try not to embarrass yourself.
Yes sir. Only up to go for Fannie!
The next few weeks/months in FNMA are the stuff that traders dream about. Holy holy wow!!
Bloomberg news:
Biggest profit ever!!
4Q over $4b in profit
10k- over $17b in profit.
If it ain't broke....don't try and fix it.
Not a mystery. Extension is up for 10K tomorrow. Next Q is due in a few weeks.
Always gotta be one wise guy making false statements.
Why would they. Finra had the balls to put out a dog and pony article that said they collected $600k from firms in violation of fair trading practices. $600k!! What a joke! One firm can net hundreds of millions of dollars breaking the rules and they pay only a fraction of that $600k. Is that really a deterrent? Sounds more like a "use tax". A mere drop in the penny bucket.
But who lobbies for the individual? The politicians don't give a rats ass about constituents when its the special interests that put the cash in their pockets.
The debate on naked shorting and market manipulation is akin to the debate over aliens. The government knows both exist and that they play a big part in keeping both cloaked in disinformation and skulduggery while at the same time exploiting their merits for personal gain.
The founding father's started a revolution over much much less. They would vomit at the sight of what goes on today and the complete lack of interest the public has in trying to fight it. They would also be quite shocked with the level of cognitive dissonance that turns humans into sheeple every day.
Plus where would Finra generate the extra revenue. These wrist slaps provide a nice little revenue stream. If they kill the cow they get no more milk.
I think Phil must have something short folks like...they sure do like to follow him around from board to board....is it animal magnetism, or does he just have some kibble in his pockets?
Anyhow, eager to see how the day goes here. What an anomaly of a stock. Non promo days we see 40k share volume and the stock can move up by .01 yet on goofball promo days with millions of shares traded we see it barely move or like yesterday it went down.
Is it just me or is the Finra news re: $600k in fines for manipulation seem like enforcement might actually be, ha ha, lol, working? Ha ha!!! No please, stop! I kid I kid.....
Classic!
Bear raid by those caught short. Smart money is a big handed buyer right here. This was predicted and delivered.
Next act will be the rocket to the moon. Pretty much everyone knows this.
Can we get a golf clap round of applause for Bull Consulting folks? Another fine promotion brought to you by GTEli Kauderer and Co.
Excelsior captain spray tan! Truly Excelsior! Now hit the showers GTElli....there's a Jersey housewife looking to get her Drink and Jersey Turnpike on. Whoot whoot!
Well I'll be. That's. new record for short lived promos hunh?
1/2 hour hit and split. Ding ding ding. Ring the bell I guess. This f-er is cooked for today.
Another 2-3m share day? What do you bet we end the day right where we started?
This just in: your fund is about to lose money.
Oh look volume but no price appreciation. Looks just like the last 3 million share volume promo that closed under .03
Hats a long way from .1 idnit then?
Gary wants out but does not hesitate to make blatantly misleading forward looking statements.
Question: how can one make a forward looking statement when the one making the statement has no intention of being in the picture looking foreword?
Translation: the company has sold shares on the last promo and the current one to raise funds that we do not have. The 1:20 divi is a clever way of hiding this fact.
No doubt. Blue hit the nail squarely on the head with this.
The timing was perfect. The coil is fully loaded. The downside risk has Ben mitigated for the last two years. Now it's big reversal time.
Agreed. Bloomberg Business Week published an article recently that basically said that," the market IS rigged, so why don't you use that knowledge to your benefit". Well same with knowledge of politicians and where their bread is buttered.
Spot on perception IMO.
Housing
Freddie Mac Reports Record $11 Billion Profit
"But specific reforms to unwind Freddie and its sister, Fannie Mae, have not gained real traction. And for better or worse, Freddie’s improved performance certainly doesn’t increase the urgency to arrive at a solution."
http://www.businessweek.com/articles/2013-03-01/freddie-mac-reports-11-billion-record-profit#r=lr-fst
Gov not unwinding anything any time soon folks.
WASHINGTON, Jan. 18, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) issued approximately $10.8 billion(1) of multifamily MBS in the fourth quarter of 2012, backed by new multifamily loans delivered by its lenders. Total issuance for 2012 was $33.1 billion, which was up from $23.8 billion in 2011. Fannie Mae also resecuritized $2.2 billion of DUS(R) MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(TM) ) program in the fourth quarter, bringing the total GeMS issuance for 2012 to $10 billion.
"Market activity for our securities was robust in 2012 with total issuance topping $33 billion," said Kimberly Johnson, Senior Vice President of Multifamily Capital Markets, Fannie Mae. "Issuance was particularly strong in the fourth quarter, in part due to the Fed's aggressive bond-buying program, which has helped to keep borrowing costs at record lows. Private-sector lending has shown signs of growth as well, adding liquidity for all market participants."
http://online.wsj.com/article/PR-CO-20130118-909222.html?mod=crnews
What happened to all the cheerleaders?
Captain Bilge Pump sent them all below the poop deck?
Perhaps Angel could be looking for a replacement CEO for BG Med?
I hear Captain Feathersword from the wiggles is looking for a new gig.
I like your logic. And with mid term elections and campaigns around the corner no congressmen or senator is going to throw their re election by being tagged the "guy" that thwarted the housing recovery.
This serves a bipartisan political agenda to keep the momentum, (or perception thereof), going at full speed ahead.
They are all very well aware of the thin ice on which they ALL skate.
At the same time they will be battling for those shares. Many looking to scoop with big hands.
#1 Maobama is not going to sink a Democratic flagship.
#2 The Fed with the help of the worlds largest mercenary force will provide the low interest rate conditions that no other country on earth can. This is why the US is the only country on earth where the "bailouts" could possibly succeed. We play with a stacked deck that comes for providing the domicile and the muscle of the Federal Reserve Bank. Lol!!!
#3 And what makes it funnier is that this can end as a bipartisan win, (at least in the media).
No doubt.
Same either way. Tomorrow is 27th. After hours tomorrow effectively is pre release for 3.28th trading session.
And now we know. Who's it going to be boyzzz?
Feeling way stronger as a long here. Way more upside with way less stress and liability. Shorty better start to apply that lotion....forecast is calling for lots of sun and heat.
From the NT 10k:
"we expect to report significant net income for the three months and the year ended December 31, 2012, "
"Release of the valuation allowance on our deferred tax assets as discussed above would result in higher net income for 2012 than if the allowance is not released."
http://www.sec.gov/Archives/edgar/data/310522/000031052213000055/form12b-25for2012form10xk.htm
"Regardless of the decision to release or not release the valuation allowance, we expect to report significant net income for the three months and the year ended December 31, 2012, compared with a net loss of $2.4 billion for the three months ended December 31, 2011 and a net loss of $16.9 billion for the year ended December 31, 2011. Release of the valuation allowance on our deferred tax assets as discussed above would result in higher net income for 2012 than if the allowance is not released. Because our financial statements have not been finalized, we are unable to provide a reasonable estimate of our results of operations for 2012. Further, our expectation stated above that we will report significant net income is based on current estimates and is subject to change as we complete our 2012 financial statements and the audit of those results."
Who said cash out? I doubled down...
Looking forward to tomorrow and beyond.
Blue, thank you for your excellent DD! I got your pick FNMA through Phil Cheese and could not be happier about it.
Cheers!
That was the case before the 3 m share volume period newbie. One could buy 20-30k shares and take out the ask up past .03
But on Eli's much ballyhooed promotion that brought 3 m of volume it never even broke out of the .02s where it started.
Eli Kauderer is by all evidence and accounts what appears to be the shill hired to raise investor capital and provide an awareness and promotional campaign to bring attention to the new ticker symbol.
But Eli is not just a shill for hire but rather the shill that orchestrated the merger between the formerly private company CWS and the shell company he appropriated via the now defunct Action Products International Inc. APII.
Eli and his company Bull Consulting by all accounts is the architect behind this entire deal and the very twisted trail of manipulation that we have bore witness to for over a year now.
He raised 504 money from investors, and since that time has provided other "services" to the company that involved fly by night promotions by less than reputable stock pumping groups which in every occasion has failed to bring the company what it had paid for while at the same time provided Eli with the perfect storm of opportunity to manipulate this tickers pps as needed to serve his interests only. Shorting, selling front loaded promotional shares into Press Releases, and allegedly a two sided scenario that involved covering his short positions with discounted and or free shares at a point that was far too low for any retail investor to have ban able to sell at. This became very obvious in the weeks following the new year. A pattern and a channel can be witnessed in correlation with press releases during this period that show atypical market action when compared to the market action of the stock outside if these promotional periods. It was during these periods that the stock was supported above the .015 position and below .03 which has now been replaced with a high of .0225 until today.
There also exists other means of rigging the game to his own design but regardless of the actual methods of manipulation used it is entirely obvious that the stock was and remains manipulated to stay within a specified range.
A good example of this can be witnessed by reviewing the trades made during the two days of volume recently that saw 3 millions shares trade on a stock that averages under 100k daily volume. Another compelling note with respect to that is that prior to that it could take only a few hundred to a few thousand shares move the pps in a range of plus or minus .015 to .02 yet during this extremely high volume period the stock was never able to break out of the 0.29 range. And stayed within a channel of less than a .015 cent margin. The shares purchased during this period are assuredly not from retail investors. At the same time discussions with the WAFR CFO have revealed that there have been no shares sold by the company to that volume or during that period.
There is more but I will defer to the legal council and the period of time in which it will become appropriate for that information to be revealed.
Yes it is. But that would mean that those that have been given information in exchange for 504 positions would have to first reconcile the total loss of their investment, then their egos would have to deal with the humiliation of being duped, ( when they were so sure about everything), then they would have to spend months being deposed by attorneys and more months in court, only to find out that there is no money to disgorge from the company to distribute even in the event of a successful ruling. So good luck with that.
As you are very well aware, Steve!