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tim p’s common was ALWAYS a trade, nothing else!
you’re so right, it is hilarious
kt, thank you for all your time and willingness to share.
it just boggles my mind that the jps prices are at these levels
fwiw, there is a sign of life - stifel on bloomberg late yesterday looking for 50k+ in both fnmas and fmckj
kt, hope i get chance to meet you when this is over
congress understood? that’s a BIG request you’re asking for
good find ... proves that the only “quagmire” tim h was frustrated by is the political quagmire of getting a resolution to the gse debacle.
tim howard corrects jps error
jtimothyhoward
MARCH 16, 2021 AT 12:09 PM
Any payments to shareholders from the proceeds of a judgment in favor of the plaintiffs in a derivate suit would be at the discretion of the companies; it is not mandated (and I doubt that it would be suggested) legally. I have no information on how either Fannie or Freddie may be thinking about this issue.
4:30 pm correction] A holder of the companies’ junior preferred stock called my attention to a fall 2018 conference call with David Thompson, counsel to plaintiffs in the Perry Capital case (and other cases), in which David made clear that damages in the claim of breach of implied covenant of good faith and fair dealing now before judge Lamberth would, if granted, be payable by the government to the current holders of Fannie and Freddie’s junior preferred securities. I do not know if the same would be the case in the event of a favorable ruling for plaintiffs in the Court of Federal Claims. I withdraw the statement I made about damages here and in the comment above (and apologize for the error).
“In November, the Agency finalized a regulatory capital framework for Fannie Mae and Freddie Mac that recognizes that the risks that climate change could pose are difficult to quantify but potentially material. Loss-absorbing capital, particularly in the form of common equity, is the strongest protection for financial institutions against any negative shock, including those from natural disasters or abrupt repricing. FHFA’s first priority is thus building capital at the Enterprises.
FHFA and Treasury have cooperated in amending their agreements to allow Fannie and Freddie to retain earnings as one means of building capital, with Treasury requiring provisions to protect its investment. These are important steps toward building the capital that can better protect the mortgage finance system against climate change.
The Enterprises will also need to raise private capital to realistically become safe and sound. FHFA looks forward to working with Treasury and addressing its priorities in structuring its investment going forward such that the Enterprises can reach a safe level of capital”
who knew all that was needed was to link it to climate control ....
look, this never made sense in first place. we got gaslighted by govt and misled by politicians but now we’re accruing damages and that is game changer
fwiw, another group you disparage - gaby et al at acg call this case “the dagger to govts heart” ,,,, we shall see
aaaarrrggghhhhh .....
read post 573
pigskin, read last sentence page 2, he’s gonna give plaintiffs whatever we think we need
you don’t lie to federal judge and get caught - ugoletti
passive/aggressive
i think very good
see post 671562
oops, that’s the case # and docket #
go to pacer
my atty sends them to me and it’s a pdf and i can’t paste
gonna have to trust me on this
plus lamberth says this has “gone on too long” and he wants trial to start
hey pigskin 2, even if trial is ‘23, i’m not complaining. @ 6% simple interest i’m accruing $1.50/yr or 30+% annually on the t’s .and they now have a claim of close to $45 when we win ... let me know if i went too fast
hey pigskin, think i’ll go with tim howard too
and if you’re curious who talked with tim, .....
jtimothyhoward
MARCH 16, 2021 AT 12:09 PM
Any payments to shareholders from the proceeds of a judgment in favor of the plaintiffs in a derivate suit would be at the discretion of the companies; it is not mandated (and I doubt that it would be suggested) legally. I have no information on how either Fannie or Freddie may be thinking about this issue.
[4:30 pm correction] A holder of the companies’ junior preferred stock called my attention to a fall 2018 conference call with David Thompson, counsel to plaintiffs in the Perry Capital case (and other cases), in which David made clear that damages in the claim of breach of implied covenant of good faith and fair dealing now before judge Lamberth would, if granted, be payable by the government to the current holders of Fannie and Freddie’s junior preferred securities. I do not know if the same would be the case in the event of a favorable ruling for plaintiffs in the Court of Federal Claims. I withdraw the statement I made about damages here and in the comment above (and apologize for the error).
Case 1:13-mc-01288-RCL Document 124 Filed 03/29/21 Page 1 of 2
Case 1:13-mc-01288-RCL Document 124 Filed 03/29/21 Page 2 of 2
re liar, think you owe me apology
re $3.50, from your mouth to ——- ears
what an oppy to add!!!!!
never understood you guys who are afraid to buy at lower prices
re thompson, have no freakin’ idea where you got that quote. curious if YOU have a link. besides, why would our attorney disparage his case ???
don’t be lazy, look it up yourself
lastly it ain’t back dividends, it’s pre judgment interest @ 6% since nws put in. the $25’s now have a claim of $37.50 and counting
it’s a pdf
secondly, david thompson says you are flat out wrong .... think i will go with him
also, if you read lamberth decision from last yr, he flat out says the rights travel with the paper and that it is the current holders who are entitled to any damages so again, i’ll go with judge lamberth not you
Judge Lamberth agreed to extend the fact discovery deadline to May 18, 2021, and declined to extend the other dates established in anticipation of a trial on on May 16, 2022.
bradford is so right .... you should be ashamed of yourself
thx and def agree i don’t want to lose scotus
fwiw, according to metzner, “lamberth is a dagger to the heart” for defendants
curious as to your thoughts re the following and THANK YOU again for your time and willingness to share
https://ruleoflawguy.substack.com/p/for-fannie-and-freddie-shareholders
“So as to the merits of whether FHFA properly exercised its powers as conservator, it is important to understand that the government had now chosen to argue before SCOTUS that the NWS complies with the conservator's mandate to seek safety and soundness...it just didn't do a very good job at that, with the benefit of hindsight. Of course, this is a much weaker argument than the one that previously won the day in all appellate courts other than the 5th Circuit. So on the merits, the government has a much harder time to convince SCOTUS that the NWS is protected by the anti-injunction clause.
In other words, you would be wrong to count up the circuit court wins and losses, under the lesser standard that the NWS need simply be shown to be part of the conservator's management of the GSEs' businesses, and use that scorecard to gauge a SCOTUS outcome on the APA claim merits.”
one of best posts of yr! mods, pls sticky
mods, sticky pls
yeah, i was trying to be sarcastic and not get deleted.
mnuchin in mexico .. . suggest you start paying for the info v. hacking
why do you think it’s ok to hack and not pay someone for their expertise?
$1.68/shr common best case????
no bueno
mods - PLS STICKY
my internet went down, where did fnma close?
is this more satire or do you really believe this
it’s called satire . look it up
it’s called satire ... look it up
mods - STICKY pls
again, you jump to wrong conclusions
source: mkao on twitter
Regarding Hutchins specifically, I have a good friend who overlapped with him at UBS who watched him create a ton of value for their internal HF in early 2000’s. Said he did the same when he went to Freddie and wouldn’t be the type to take the CEO post unless he saw big upside.
http://www.freddiemac.com/about/leaders/#hutchinsModal
fingers x’d
don’t forget wexwood @ 10-15x .... would be great to have this one be accurate
read kthomp and jps converted for the reasons