Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The worst jerks here are the ones who like 👍️ their own posts one after the other.
Current protest against Sandra Thompson's charitable distributions of scarce corporate capital.
The Jim Jordan quote from my last post - "It appears that the Administration is using Fannie and Freddie as a backdoor conduit for appropriating billions of dollars of taxpayer money without the consent of Congress" - is from 2011, but still relevant.
Fannie Mae ($FNMA): Sen. Hagerty CALLING FHFA SANDRA OUT for OVERSTEPPING her "authority as a Financial REGULATOR" & asking GSEs Produce correspondence she HAS REQUIRED of THEM ! SHE is WORKING HARD at LEFT WING SOCIAL EMPIRE BUILDING - BUT NOT ENDING the CONSERVATORSHIP ! pic.twitter.com/3MGN1N5HhI
— Cmdr Ron Luhmann (@usnavycmdr) September 23, 2023
Please explain to me how two critically undercapitalized (CET1) firms in conservatorship could even dream of making "investments"? And to make matters worse, using their own MBS (cluster risk) to do so? And all this only because the Fed wants to "officially" reduce its more than decade-long manipulation of the yield curve (long end) with quantitative tightening - so as not to completely lose credibility.
FnF would once again be hijacked for politics! Sandra Thompson's charitable distributions from scarce corporate capital, which are actually a government function, have already caused angry protests:
Jim Jordan on $FNMA $FMCC (in 2011) pic.twitter.com/JFkWRfgeK1
— Jarndyce Jarndyce (@JarndyceJ) October 13, 2023
The validity of my arguments is not affected by the decimal places I omitted (for better readability).
LOL. Friday, Fannie commons closed at 65 cents and Freddie commons closed at 61 cents. If you were right and the jury verdict was priced in, Freddie commons should be trading at 75 cents (or alternatively Fannie commons at 51 cents).
Tesla explains exactly what a car is, and never uses the word "contract", because a car is not a contract.
A car is not a contract. However, a contract is made when you buy a car. Likewise, a contract is made when you buy JPS.
Do you want to take the dumbing down to the extreme here?
To me, it sounds like pumping BS of a new, questionable ID.
No link. "From what I've learned..."
I think a large percentage of people here are responding to posts they haven't read and/or understood. They just scan the posts and stop reading if their preconceived opinion is not reflected. Of course, that doesn't stop them from personal attacks. Insulting always works. No need to read or understand anything.
To make up your mind (smart style), it is important to know all the opinions out there, even the many wrong ones
https://en.wikipedia.org/wiki/Falsifiability
"Evidence" is often deceptive. That's why so many people lose money on the stock market. The big players on Wall Street even bet on it by deliberately laying false "evidential" tracks.
I prefer to question everything critically, act anti-cyclically, and make up my own mind.
Don't trust any "evidence" you haven't fabricated yourself
------------
P.S.
With the obligatory turd emoi 💩 from Wise Man, this post now even has the first class seal of approval.
Can Lamberth defer his judgment until eternity? Maybe HERA allows it because it's good for the FHFA "and the public that it serves" (Scotus).
At least Wiseman, unlike Sandra, does not suffer from donut constipation. You can tell by the numerous turd emois 💩 he drops here in quick succession.
One could also argue that it is an "investment" for Fannie and Freddie to buy back their JPS at the current market price. Core capital (not CET1) would increase by about $30 billion (the difference between $33 billion balance sheet value of the JPS and their market value of about $3 billion). But that's not allowed in conservatorship.
It is ridiculous to claim that buying tens of trillions of dollars worth of MBS would be a legal "investment" while the much cheaper - and much more effective - buyback of JPS (costing only about $3 billion) would not.
In your post, you wrote JPS at least two times instead of JPM. That you actually mean JPM can be inferred from the fact that you mention Jamie Dimon.
If you are so confused, how can your other statements be trusted? There is a famous saying: "Genius and insanity are close together."
The number of followers is not a quality criterion. The stock market is a redistribution tool from the stupid to the more intelligent, with the latter naturally being a minority.
If I expect something, this expectation can be wrong. Whether it is stupid remains to be seen. You don't know the future any more than I do.
That's not true either. I expect a SPS-to-common conversion which will dilute commons to such an extent that an additional exercise of the warrants will hardly be of any use.
Complete nonsense what you write there.
1. I am not Bradford.
2. I only hold JPS (no commons) and don't trade them. Therefore I'm not one of those weirdos here who want to pump up commons by 2 cents with whale horn and level 2 bullshit.
3. I am not paid by any hedge fund! Nobody pays me anything for my posts. I only make a profit when the JPS go up.
4. Stop your filthy insinuations that are unsupported by anything and are also a TOS violation.
Are there any promising lawsuits left?
The Fifth Circuit released its opinion yesterday rejecting shareholders' claims that HERA's unconstitutional removal restriction caused them harm and declining to review their Appropriations Clause claim. $FNMA #FANNIEGATE https://t.co/neYv6VGEhf pic.twitter.com/cA5xbjxNyR
— Fanniegate Hero (@DoNotLose) October 13, 2023
NAR and others think that a 5th Amendment would do it.
But how can FnF (while still in c'ship) spend capital on MBS repurchases when capital is so scarce that Lamberth can't even pay the plaintiffs in the jury trial?
It's $612 million for the plaintiffs versus tens of billions in MBS buybacks.
I would appreciate if KThomp19 could respond to this.
The only "separate account" that actually exists is the liquidation preference (LP). This is because only the SPS appear on the balance sheets, not the LP. The LP grows "in secret", dollar for dollar with every profit Fnf make - despite the formal stop of the NWS starting in 2019.
Current status (estimated values):
SPS = $191 billion
LP = $300 billion
Even 100% compensation (of the one-day share drop after NWS announcement) would still not be enough, based on the actual damage suffered by shareholders as a result of the NWS.
What you should care about is the precedent that the final Lamberth judgment sets for further litigation. Could also be of great importance to common shareholders. Perhaps that's the reason for the delays.
The Fannie/Freddie story also holds a special fascination. It is probably the biggest economic crime in history, it goes unpunished, and the judiciary tries to defend the injustice committed by the government tooth and nail. This usually only happens in banana republics.
Not true. Alias Born 03/01/2021
"Normal" people would take both, but sell the stock certificates at a discount to the mafia
It's a mixed blessing, because anyone investing in FnF is also exposed to the vagaries of U.S. politics and justice. And the "liberty" to post on iHub whatever one wants apparently does little to change 15 years of unjustified conservatorship.
If this is supposed to pass for humor, I understand why Americans are considered largely humorless in the rest of the world.
It doesn't make sense anyway. Any sensible mugger who sees cash and stock certificates will ONLY take cash because it's anonymous. If he would credit the stock certificates to his broker account, he would end up in jail two days later.
Volume is much lower than at the end of August.
https://stockcharts.com/c-sc/sc?s=FNMA&p=D&b=5&g=0&i=t8464030686c&r=1697135285689
There is famous ballet solo called "The Dying Swan".
https://en.wikipedia.org/wiki/The_Dying_Swan
It's simply something called risk management. Something the "this is it" coffee-sipping emoi posters obviously have no idea about.