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Anybody here trades for living? I have been seeing lot of the same guys here for years. I wonder if you trade this stock to make living. Watching this stock for years, I would say the price moves became quite predictable and one could have made 10 bagger already on the swings if you do the right trades.
Is anyone here professional trader? Just wondering.... I see lots of people herebraging bout profits, but would like to know if anyone here is really making living out of trading stocks.
Ackman hype,again, pump and dump. Will go red today, back to 4, no substantial news.
Ackman hype again, wait till they start shorting it like in the past. Unless its leaked court info.
So Mnuchin basically said exactly the same shit we have been hearing for years now- the status quo is unacceptable and we have to find bipartisan solution, protect taxpayers, bring private capital.......
There are 2 options:
1. Mnuchin was lying to the senators or he was hiding his intentions about GSEs - because he said he wont take any administrative action to bypass Congress.. But previously he said he wants to solve this issue quickly-how, when you will not release them on your own. Congress wont move quickly on this issue,atleast not in bipartisan mode,as we have seen for 8 years.
2. He really doesnt want to do anything until congress does and might lose the lawsuits intentionally so it pushes for action.
Anyway, if no actions are taken soon, i believe it will go to low 3s again and maybe under.
VERY weak performance by Olson, Im really dissapointed. The judges obviously took anti plaintiff approach and argued in line with government point of view and their argumentation and wanted Olson to prove his case, that did not happen. Reason is that the statute sadly allows everything they said when interpreted in a certain way.
After todays hearing Im 100% convinced they will throw the suit away.
Our hopes lie in other courts.
Judges so far has ruled that FHFA did not breach HERA. Well co-authors of HERA say something else..Basically they have no interrest(more likely motivated by someone) or guts to dig deeper into it. Especially Pratt. He basically said that Labmert ruled and thats it.
Now its up to judge Sweeney to rule that the sweep under HERA is unconstitutional.
Its sad, that the only hope for justice sits on the shoulders of one brave woman.
Who would be so dumb to believe that. Its troll obviously.
Because its not huge OMG,not a big surprise really was already priced in.
Yes, of course, we have yet to get a trial.That will be first important ruling. Todays just not so much IMO,dont expect big moves.
They dont? Just look at the bill Hensarling proposed..
Yes, but obviously no one from the congress dont care what has been paid. Few who say GSEs have repaid full stop just there and say nothing more- like waters.They dont care about it anymore, as far as the money goes to their policies. The legislative branch is out of the game regarding posibble release. Are the courts independent enough to fight for the law?
As of now, only court can stop the sweep, which will make the GSEs eventually useless for dems. and only than can come release. Democrats dont want to release and reps. want to eliminate them.
The question is, is judge Sweeney strong and brave enough to decide infact the fate of us housing future? Im not so sure about that.
Watt agrees contract cannot overcome law,but in following sentence he says SPSPA which is contract, can overcome law....
He follows the statute, but only if it is suitable for him.
Lets face it,democrats through Watt are going to just suck life of GSEs until republicans or courts stop them doing so.
Treasury is like Putin in Ukraine.Pretending to be dedicated peacemaker,protecting ordinary people,but playing most repulsive game behind the(iron)curtain and running the whole show.
In Europe you can get 30y fixed mortgage for 4,5% easily. I dont get the talk, that without GSEs you cant have 30y fixed mortgage. Im pro GSEs obviously, but this is just not correct.
I think you are mixing fairholme( berkowitz ) and pershing (ackman).. because pershing along with rafter was the one who dismissed their case by lambert after lambert ruled on perry. No change to false lamberts decision on perry case.Fairholme is the case by sweeney nad not related to lambert.
I thought Rafter was submitted along with pershing to judge Sweeneys court?
Carney tweeted it, doesnt mean its true, no other source so far.
I was quoting the guy. I put the important thinks in bold. Can you tell me which from these sentences are in contrary to what we say here?
I was extensively lobbied by Fannie and Freddie on the goals. Whether they can be believed or not, at the time, both claimed that the proposed goals would endanger their business and result in substantial losses
I also recall a meeting with Freddie CEO Dick Syron (either in 2006 or 2007) in which he claimed the goals were killing the company and that he needed political cover to improve lending standards.
Not only was the GSEs’ safety and soundness regulator aware the GSEs were driving subprime, this same regulator thought it was “great.”
the GSEs were not trying to drive that market but rather policymakers were nudging them in that direction
Can you tell me please, what is bad about this. What it says is that GSEs were pushed to purchase bad loans for political reasons, that they did not want to do that, and were aware, that it will kill them, and also their regulator was aware and was fine with it.
Can you tell me what is bad about it, if we claim here that the GSEs were not the reason, but rather victims? Thats what exactly it says.
Thank you.
A former housing staffer of sen. Shelby confirms the real truth about GSEs!
I found something VERY interesting, please read it till the end. A former man from gov confirms the truth we spread here. Maybe someone should contact him.
So I read the comments about Wallisons book on amazon :
Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again
And I found one VERY, VERY interesting comment under name Mark Calabria. First who is this man? You can google it :
CATO Institue
Mark A. Calabria, is director of financial regulation studies at the Cato Institute. Before joining Cato in 2009, he spent six years as a member of the senior professional staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs. In that position, Calabria handled issues related to housing, mortgage finance, economics, banking and insurance for Ranking Member Richard Shelby (R-AL).
Worked for sen. Shelby?Remember Shelby? He was against Johnson Crapo.
Interesting? It gets better. This is guotation from his comment about the book :
First some disclosure, I handled mortgage finance (among other issues) as staff for Senate Banking Committee between 2001 and 2009. Also worked at HUD in the office that oversees mortgage market regulation, as well as spending a number of years working at real estate related trade associations. Been researching financial and mortgage markets for 20 years. So sure a little baggage.
I do think Wallison too easily dismisses other drivers of the crisis, such as easy monetary policy, but his general points are well proven. Those points are: 1) there were a lot more toxic loans in the system than generally believed; 2) government entities (FHA, GSEs) held far greater amounts of those toxic loans than generally believed; and 3) Fannie/Freddie purchased much of those toxic loans due to their housing goals, not as a drive for greater market share.
Having been closely involved in or monitoring GSE oversight since about 2001, here are some of my own recollections. As a staffer on the Senate Banking Committee when HUD proposed to increase the housing goals in 2004, I was extensively lobbied by Fannie and Freddie on the goals. Whether they can be believed or not, at the time, both claimed that the proposed goals would endanger their business and result in substantial losses. I would characterize the GSE attitude toward the goals in 2004 as one of near-panic (not that the GSEs were immune to exaggeration). I also recall a meeting with Freddie CEO Dick Syron (either in 2006 or 2007) in which he claimed the goals were killing the company and that he needed political cover to improve lending standards.
I also recall countless meetings with housing advocates beginning in at least 2001 in which the argument was presented that the GSEs should be pushed into subprime in order to “clean up” that market.
I made a phone call to the GSEs’ then-regulator OFEHO in 2003 asking what all the “other” was in the reports of GSE purchase of mortgage-related securities. Imagine my surprise when told “other” was subprime private label securities. Perhaps more shocking was when this senior OFHEO executive told me what a great thing it was, as it was providing liquidity to the subprime market. Not only was the GSEs’ safety and soundness regulator aware the GSEs were driving subprime, this same regulator thought it was “great.” So yes private label securities were a big part of crisis, but fact is that Fannie/Freddie were driving that market; their own regulator confirmed such to me and expressed support for such.
There were a lot of contributors to the financial crisis. One of those was the role Fannie Mae and Freddie Mac. While the extent of that role can be debated, what I saw first hand before the crisis was 1) a broad Washington consensus that the GSEs should drive the subprime market and 2) the GSEs were not trying to drive that market but rather policymakers were nudging them in that direction
A former housing staffer of sen. Shelby confirms the real truth about GSEs!
I found something VERY interesting, please read it till the end. A former man from gov confirms the truth we spread here. Maybe someone should contact him.
So I read the comments about Wallisons book on amazon :
Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again
And I found one VERY, VERY interesting comment under name Mark Calabria. First who is this man? You can google it :
CATO Institue
Mark A. Calabria, is director of financial regulation studies at the Cato Institute. Before joining Cato in 2009, he spent six years as a member of the senior professional staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs. In that position, Calabria handled issues related to housing, mortgage finance, economics, banking and insurance for Ranking Member Richard Shelby (R-AL).
Worked for sen. Shelby?Remember Shelby? He was against Johnson Crapo.
Interesting? It gets better. This is guotation from his comment about the book :
First some disclosure, I handled mortgage finance (among other issues) as staff for Senate Banking Committee between 2001 and 2009. Also worked at HUD in the office that oversees mortgage market regulation, as well as spending a number of years working at real estate related trade associations. Been researching financial and mortgage markets for 20 years. So sure a little baggage.
I do think Wallison too easily dismisses other drivers of the crisis, such as easy monetary policy, but his general points are well proven. Those points are: 1) there were a lot more toxic loans in the system than generally believed; 2) government entities (FHA, GSEs) held far greater amounts of those toxic loans than generally believed; and 3) Fannie/Freddie purchased much of those toxic loans due to their housing goals, not as a drive for greater market share.
Having been closely involved in or monitoring GSE oversight since about 2001, here are some of my own recollections. As a staffer on the Senate Banking Committee when HUD proposed to increase the housing goals in 2004, I was extensively lobbied by Fannie and Freddie on the goals. Whether they can be believed or not, at the time, both claimed that the proposed goals would endanger their business and result in substantial losses. I would characterize the GSE attitude toward the goals in 2004 as one of near-panic (not that the GSEs were immune to exaggeration). I also recall a meeting with Freddie CEO Dick Syron (either in 2006 or 2007) in which he claimed the goals were killing the company and that he needed political cover to improve lending standards.
I also recall countless meetings with housing advocates beginning in at least 2001 in which the argument was presented that the GSEs should be pushed into subprime in order to “clean up” that market.
I made a phone call to the GSEs’ then-regulator OFEHO in 2003 asking what all the “other” was in the reports of GSE purchase of mortgage-related securities. Imagine my surprise when told “other” was subprime private label securities. Perhaps more shocking was when this senior OFHEO executive told me what a great thing it was, as it was providing liquidity to the subprime market. Not only was the GSEs’ safety and soundness regulator aware the GSEs were driving subprime, this same regulator thought it was “great.” So yes private label securities were a big part of crisis, but fact is that Fannie/Freddie were driving that market; their own regulator confirmed such to me and expressed support for such.
There were a lot of contributors to the financial crisis. One of those was the role Fannie Mae and Freddie Mac. While the extent of that role can be debated, what I saw first hand before the crisis was 1) a broad Washington consensus that the GSEs should drive the subprime market and 2) the GSEs were not trying to drive that market but rather policymakers were nudging them in that direction
Exactly.I read somewhere the amount they had to borrow just to pay 10% div. was around 40 billion!
Obama lies about settlements! Listen what he says about the settlements GSEs!! won and should be paid.
He said: "that is why we worked with states to force big banks to repay more than 50 billion dolars to more than 1,5 milion borrowers who have been treated wrongly and that was the largest lending settlement in history."
so..
1. the big banks treated badly...
2. they treated badly borrowers... ehmm how were the borrowers badly treated? That they got mortgages for houses they couldnt afford? Isnt that a fault of the borrowers?
3. big banks repaid 50bln to 1,5 mln. borrowers... oh realy? They got check?Didnt the money end up in TREASURY to do with it whatever they want?Really Obama?!!
and on top of that he says in next sentence the GSEs were the bad and called for their wind down. Not a word mentioning that the GSEs were treated wrongly by banks...
How the f. you are winding down the GSEs and not the big banks, which you recognize is the one who f.up the system. How did he not smash them down into ground after saying this?!!!?!!!Oh I forgot, theyare the big banks...
another sentence :"not allowing making bad bets on taxpayer backed money and than getting bailed out afterwars.. Isnt that EXACTLY what the banks has been doing!! How did GSEs made bad bets on loans that banks sold them as AAA instead of DDD?
This guy knows nothing or he pretends that he doesnt, which is far more worse..
President of The USA, the most developed democratic country in the world lies...? Or should we say... The United states of Big Banks ?...
Preffereds not looking good, almost down as the big drop in march.
I dont understand why are so many people concerned. For what reason did we go from 3.50 to 4.16? Hedge fund buys swaps at 3.53, thats no fundamental reason. Just hype. I bet the same hedge fund shorted it at HOD.
Obit just a little correction the swap is till the 30.4.2015 not 2014 so its for a year not for a month. At first I thought also for a month which was weird.)
It wont likely get released, you should not mindlesly post this. How can the gov release it when gov wants to wind down GSEs,they would loose control over mortgage market. They dont care if they are paid down and we are not, theres still the dividend to be paid off. Only court wil decide and it will take years.
he does not own it yet
Orchestrated short sell of tens of millions shares maybe?
The Pershing Square Funds’ counterparties for the Swaps include entities related to UBS AG.
UBS AG is a Swiss global financial services company that is headquartered in Basel and Zürich, Switzerland. The company provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland.
FWIW
Without a doubt!
Well said JJ8, as always, Im glad to hear from you everytime.Im not one of those who got burned here..atleast yet, but still learning everyday.
Im level II addicted I cant stop watching it whatever stock it is.It is so colourfull and exciting watching the bid and ask moving.You have a feeling like you have insight into the market its great! Anybody crazy like me?
Yes many many oportunities here, but what about the guys which bought on the spikes and than had to wait for months with their position -50%.Not much euphoria there I guess.)
Waters added, “I am hopeful that this legislation will continue to move the conversation on housing finance reform forward.
She basically admits she has no confidence it will pass like a bill. Just adding another opinion how to create andother fhicfmicmihnsofhajv whatever called agency and another opinion in this mess of bills.
The more bills there are the more divided and messy will the congress be.
After new business is ceased, provides for distribution of net earnings of the enterprises under the conservatorship as follows:
1) Repayment of senior preffered shares owned by treasury
2)payment of interrest to treasury at a rate of 10 percent per year
.
.
.
5) purchase of any other preffered shares
6)purchase of common shares
Hmm, so we have paid back the 180 bilions owed to treasury, yet Waters wants to take another 180 bilions to actually repay it once again, and on top of it 10% divy...
yeah sure, why not...not going to happen.