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Just where is Gaby hearing that from?
Have to agree.
Calabria has been all over the place. Courts might make them very believable for him....or even sooner.
Thank you.
Those dates aren't believable as Calabria said Consent Decree by end of this year or soon after.
What did the tweet say?
Absolutely, that is what we have been saying all along.
‘All rights in the security’ as used in the statutes ‘means rights in the security itself as opposed to personal rights.’ In other words, ‘[w]hen a share of stock is sold, the property rights associated with the shares, including any claim for breach of those rights and the ability to benefit for any recovery or other remedy, travel with the shares.’ Rights associated with the dividends and liquidation preferences inhere in the security.” [/color]
Judge Royce Lamberth
Fairholme Funds v. FHFA
September 28, 2018
Brydon Fisher--google groups
https://groups.google.com/forum/#!topic/fannie-and-freddie-preferreds/WYmfnBht0cE
So true.
this whole sage is like a coach or boss that is getting fired at the end of the season or end of the year and we all know it
BUT
that coach/boss is still wielding power until they are gone- which is dumb.
Scotus or whoever needs to strip power from FHFA catman and nooch.
Or FnF JPS might linger with no future like IMPHO
American Banker has an article out this afternoon but does not mention $180 B.
DOW Jones Newswires said he did. Here's the tweet. You may need to c/p the tweet to read it.
https://mobile.twitter.com/messages/920809910585184257/media/1196884631796297734
Calabria now saying we need more than $180 B in cash to exit consent decree
Maybe this is why we're down.
Sweeney: my world view is that in order to have standing for a taking, the claimant must have owned the property at the time of the taking. If you bought after maybe you were shopping for a lawsuit and that’s never a good idea.
If the cship is deemed to be unconstitutional, we'll go back to the capital retention rule before September 2008
FHFA will re-propose capital rule for Fannie, Freddie
By Hannah Lang
PublisheNovemberber 19 2019, 2:30pm EST
WASHINGTON — The Federal Housing Finance Agency will re-propose the entire post-conservatorship capital framework originally put forward in June 2018 under former agency director Mel Watt, and expects to release a revamped plan sometime next year, the agency said Tuesday.
Because Fannie Mae and Freddie Mac are now permitted to retain significantly higher levels of capital than they had when Watt originally iss
https://www.americanbanker.com/news/fhfa-will-re-propose-capital-rule-for-fannie-mae-freddie-mac
Best post ever.
Listen to Sweeney. "Death grip". "Loan that could not be repaid". In my opinion, the whole conservatorship is going to be unwound. Not just the Net Worth Swindle. No 10% interest. If I am right, we're already fully capitalized.
Conversion? What conversion? Oh, the self-conversion going on right now? Well, OK. Let's keep an eye on the link below:
https://finance.yahoo.com/quotes/fmcc,fnma,fmckj,fmcki,fmccm,fmcck,fmcct,fmcci,fmckk,fmccg,fmcch,fmccl,fmccn,fmcco,fmccp,fmccj,fregp,fmckp,fmccs,fmcko,fmckm,fmckn,fmckl,fnmap,fnmao,fnmfo,fnmam,fnmag,fnman,fnmal,fnmak,fnmah,fnmai,fnmaj,fnmas,fnmat,fnmfm,fnmfn/view/v1
Sounds like court is still going on.
If this gets remanded does it go to Judge Atlas' court?
Seems pps will rise 2020 2021
Watt originally proposed 3.24% or 190B. Calabria wants more like banks 5% or $250B. Maxine Waters wants much less so that affordable housing is not affected. Calabria is on record at the last hearing saying he needs to carefully balance the capital rule. In the end the final amount will be around $160B. I think that is quite reasonable. I would be shocked if it is any less. The GSEs can uplist to NYSE once consent decree is in place since conservatorship will be over. This is a requirement for the NYSE. Secondary offering the absolute earliest would be early 2021 as per Squidly. Probably more like late 2021. The more retained earnings in the bank the more successful the offering.
The tide has turned in court sentiment. I can see the whole conservatorship determined to be a fraud.
Depends on a) consent agreement and b) court cases.
If the agreement is signed today and includes $25 billion in credit for overpayments, yes I would expect an uplist in 1st qtr 2020 or even this quarter.
If one of the court cases decides the whole conservatorship is a fraud, then the government would have to reimburse all payments, less actual amount lent/invested. FnF would be fully capitalized and out of conservatorship and not have to adhere to the consent agreement.
This is why Calabria says SPO 2021-2022
Won't be able to attract investors without paying dividends.
Seems more like Calabria wants to hang onto his job.
It will take another few years to raise that kind of dough.
Think we'll uplist 1st qtr 2020?
So in other words, after Judge Atlas ? opinion for damages the Treasury could just send the money to FnF? Judge Atlas will need to stipulate a timeframe.
They already have $180B. It’s just happens to be over at the Treasury. Need a simple ACH transaction.
After all this does it go back to Judge Atlas for damages?
it's COMING EVERYBODY ! ... Life is Good !
Court will provide RELIEF well "before" Calabria does
We have 5th Circuit remand, 8th Circuit RULING !
LAMBERTH Remand-release of Documents-and finally SWEENEY Oral !
Why are they coming up with this ridiculously high number of $180B combined to be able to exit CSHIP?
Biggest @FHFA confusion:
— Tony Castelluccio (@T_Castelluccio) November 13, 2019
will be 2exits:
hit Minimum capital to get consent decree EXIT
Then get few yrs to hit Capital Requirement through both retained earnings & secondary capital raise To COMPLETELY EXIT
IMO
exit1: FNMA≈25B, FMCC≈20B
exit2≈ 180B both
Retain Cap=BULLISH
IMO Consent Decree 2019, 2020. If needed SPO 2021, 2022. Release from Cship totally funded 2022, 2023.
Calabria has no ability at all to speak clearly.
Mnuchin must finally have given Calabria direction.
$$$$$$ Conservatorship ending quicker than most thought!!! Squidlydoing his job wow LOL!
Aren't all the plaintiffs supposed to be there?
Sweeney next Tuesday!
Bryndon Fisher
10:07 AM (2 hours ago)
Oral argument will be held on Tuesday, November 19, 2019 at 9:00 a.m. in the Howard T. Markey National Courts Building, 717 Madison Place NW, Washington, DC.
- show quoted text -
This is good news.
Times have changed.
Sad, but true.
Im guessing you mean Tim Pagliara, Attorney and Chairman of Investor's Unite, THAT Tim P?
However, without a doubt the momentum is for the commons at the expense of the preferreds.
Attorney Tim Pagliara is one of the many attorney/FNMA investors who they predict the common shareholders will be vindicated, and were wronged by the government.
Tim has invested a lot of his own money in advocating for FNMA in Washington.
Unfortunately, there is a bad taste in the mouth of congress about fnma, and there are good reasons for that, from things done wrong by FNMA in the Barney Frank Era.
In fact, Fannie mae shareholders were a scapegoat for congress anger against Barney Frank and his lover who was a fannie mae exec.
However, all those people are gone. One of the congress people angered by FNMA lobbysists was none other than senator Barack Obama.
What happened was there were so many fnma lobbysists they overwhelmed the senate offices and did not allow other lobbyists access to the senators office because fnma lobbyists were so numerours they blocked the doors with people.
I got this from an aid to a no longer congress man.
Barack took revenge, and got his Obama care funded in one fell swoop...all at fnma shareholders expense.
The trouble is the people he took revenge on are long gone and so are fannie mae lobbysists. He made innocent shareholders pay, who had nothing to do with this.
He got the public backing by associating fnma shareholders with rich hedge funds, a marketing ploy that worked because democrats hate rich people such as hedge fund owners.
At least they'll get us a good pps.
This is why we are still on the OTC so firms such as Mcinsey can own shares without having to report them meaning nobody knows they own them while they work through these deals. We need NYSE big time and transparency for everyone.
Think there'll be perjury charges?
Don' forget Lamberh is an angry man now because the Gov didn't say the truth before in his Courtroom
I think the court rulings is what Sweeney has been waiting for.
It’s been so long I think Sweeney is done with extensions. The timing is now right for her to drop the bomb.
We kinda have the same point of view.
Seems like Calabria risked his career to defend HERA
Fifth Amendment of the Constitution
(Shareholders)
vs
Third Amendment Swipe. (Not an amendment to constitution.)
Government
Lets see which one wins. Ok, I served our country and promised to defend the Consitition.
Did anyone here risk their life to preserve the Third Amendment swipe or HERA???
Who here believes that Treasury will go with 2nd option and produce a privilege log? Seems they would disclose all the documents.
The Court will order that the U.S. Treasury must timely produce all non privileged documents that are responsive to the following requests for production attached to the subpoena that is the subject of the forgoing Motion to Compel---Page 9
https://www.acg-analytics.com/wp-content/uploads/2019/11/Doc.-112-Memo-Op-Granting-Mot-to-Compel.pdf
The Court will Further Order that the U.S. Treasury must also produce a privilege log identifying documents that are responsive to the forgoing request for production that the U.S. Treasury has withheld on the basis of it's assertion of applicable privileges
Now that's funny
Maloni, New Blog Out, 11-8-2019
malonigse.blogspot.com/
A Message to Mark Calabria
Yes
Is this the 11,000 doc's that have been hidden?
I don't see that on gselinks. Where is link?
Sweeney is waking up from hibernation 11/19/19 Fairholme most recent filing ordered...defendants motion to dismiss. Court will hear oral arguments at 9:00am eastern at the Howard T. Markey Court building in D.C.
Mark your calendars
ZZ Fannie
Long and Stronger 100% commons
That's heavy buying for a Friday.