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it isn't THIS CIM...CIM URBAN REIT is not Chimera.
I talked to Bobby for a few months after that.....but lost contact. I still see some of them active on Skype, but have only talked to Frank and Hyper in the past year. I think most got pretty sick of the market after rufus...lol. At least the penny side of it.
To be fair KB...ESSO was a scam....you got in and out and did great...and remember, bashing each other was our way of life back then...lol. We all made some good bank in those days on various stocks. But fannie is a different animal here...we have the potential for double digit dollars real soon if the FED makes the right decisions.
I talked to frank a few times this year...I actually worked with Hyper for the past 3 years...lol. that woman is real....same in real life as she was with that razor tongue in the chatroom....lol.
I hear ya...my rufus loss wasn't too bad...under $1k...and I can say I got at least that much outta the saga as entertainment. fannie is going to be my biggie for the decade for sure. IF the FED gets their head outta their arse and gives us some positive direction, this may go to $10 bucks or better pretty quickly.
oh...that's right. forgot about that one...and FAZ as well...so 2 for 100 ain't so bad...lol. Push this one up to $6.05 and I will be a 7 digit midget...lol
Lets hope your luck with stocks is better on this one...lol
yeah...that would be sweet. I've been in this since 2008 slowly accumulating. I'm hoping the idiots in DC step back and see that FnF need some tweaks to resolve some issues and leave them intact. If the FED can make a profit and get out and leave us to do business, we all stand to make a boatload of money...maybe even enough to send yur good bud rufus a care package...lolol
hey KB...aren't you supposed to be workin instead of harassing the locals...lol. FnF will move back up quite a bit in the next month so hopefully we get more amusing posts from others to complain about...lol
hey KB...did you drop some nickels in this?
the div will be $1.05 per share ...next quarter is anyone's guess.
ex-div is in two days...so selling Friday will get you the div, but keep in mind the pps will drop by the div amount at the bell on wed.
HAHAHAHAHAHAHA.....what a crock. Game over...Rufus is exactly where he belongs, and will get to live off your nickel for quite a few more years.
Here is a summary of the Novel
Pg 1. Rufus comes up with a brilliant scheme to defraud investors with the use of fake/fraudulent multinational bonds.
Pg 2. Rufus and others are charged with filing fraudulent reports to the SEC, among other criminal activities related to the pump and dump scheme known as Conversion Solutions.
pg 3. Rufus appears in court, fires his attorney, and attempts to represent himself.
pg 4. Rufus finally realizes that he has failed miserably and has no chance of saving himself in court.
pg 5. Rufus flees the court proceedings in GEORGIA and is captured a few days later hiding in a basement closet in UTAH.
pg 6. Rufus is found guilty and sentenced to 23 years in prison with no chance of parole, and fined $44 million dollars.
pg 7. THE END
NOT A GOOD DAY....don't understand why it's tanking
From the latest div news
The Company also announced today that it has estimated that as of March 31, 2013, its GAAP book value was $3.55 per share and its economic book value was $3.08 per share, compared to its estimated December 31, 2012, GAAP book value of $3.42 per share and economic book value of $3.04 per share
LINK
http://finance.yahoo.com/news/chimera-investment-corporation-announces-2nd-201200558.html
looks like a dead cat bounce...dow has recovered a bit already...hanging in the 130's range now
the DOW was down 80 points at the start of his remarks...down over 170 now....but FnF are holding steady
MODS...how about spending a little time and clean up some of the personal attacks popping up on the board...this is getting a bit ridiculous.
What makes the lawsuits more interesting, is not the number of lawsuits themselves...but the number and relevance of the people/groups behind those lawsuits.
AIG was considered tainted if you will. They created their own crap bucket and jumped right in. The FED bailed them out and the general public had little sympathy for them. In the case of FnF...the lawsuits are brought by very highly regarded and respected entities that are suing to recover/preserve their investments.
I suspect we will see more suits filed and I believe the FED will eventually bow to the pressure and allow for them to recover their investments in some way.
I see that way as eventually morphing FnF into something that has a viable backing by the FED to some degree, along with the hybrid thought of private monies supporting the majority of the new FnF. I also think it will be years away before it happens.
Would be outstanding to see the large funds that have bought up the junior preferred to the tune of billions invested come out and approach the FED with a detailed and plausible restructure that allows for both the junior preferred and commons to retain value and carry over to the new entities.
everything he stated is accurate...except for part of #4.
"However, they won't mention that Hedge Funds are buying "Preferred Stock", not common stock. There's a big difference between the two and common stock are junior shares and last in line for asset distribution. Buying preferred stock puts you in the same position as the government, while common stock are does not have any real value. "
Per the agreement with the FED...only the SENIOR preferred...which is owned by the FED has any value. Both (junior) preferred and commons are considered worthless and hold no value by the FED. At this time anyway. Things may change in the future.
Lookin good this morning...now lets move up to mid to high $50's by end of month
yup...and he has no chance for an early release.
Who was the responsible party for hiring/retaining/allowing to continue as Ben's attorney? If he was fully aware of her inability to properly represent him...why in the world would he keep her as his legal counsel?
John, I hope you are at least 25% correct on the pps...lol. I've seen scam stocks jump 1000's of % on crap news and speculation.
The potential for a massive speculation run will come when the FED starts to back pedal amidst the onslaught of lawsuits. And since this ISN'T a scam stock...I don't even trust myself to venture a plausible pps down the road anymore. I know FNMA hit a high of around $70 back in 2007 after a few years hanging in the $40's and $50's. I've been in this since the start of the GSE's and am patiently waiting on your pps predictions to hit.
things are lookin up...got some good stocks and makin some bacon...lol
I'm still around...most everyone else is gone....talked to Frank a few months back, and hyper I used to talk to all the time. But after the Rufus nightmare, I think most everyone pretty much scattered. You might be able to find some of them on Skype.
what really pizzes me off, are these reporters and columnists that say the "shareholders" should get nothing...the taxpayers deserve all the money. what the hell do they think we are? I have been paying taxes for over 40 yrs now...every year...and I am also a shareholder....each chance I get to comment on these articles and columnists, I tell them exactly that...all of us shareholders are also TAXPAYERS.
Fannie, Freddie Shareholder Suit Challenges U.S. Takeover
Link
http://www.bloomberg.com/news/2013-06-10/fannie-freddie-shareholder-suit-challenges-u-s-takeover.html?cmpid=yhoo
Faruqi & Faruqi, LLP Launches An Investigation Against American Capital Agency Corp. (AGNC) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
Link
http://finance.yahoo.com/news/faruqi-faruqi-llp-launches-investigation-174900576.html
I wonder if roofie got his invite to this meeting
http://news.yahoo.com/club-rich-powerful-meet-secret-near-london-101435370.html
True...I was thinking only of the monetary value...silly me.
One would think the FED would be thrilled to see an uplist. They have warrants that would pay them billions...and they still have the power to control the direction of the GSE's. Sometimes I wonder if the powers that be really give a crap about the general population outside of trying to control us with a herd mentality.
I suppose the major concern is what will happen to interest rates if the private sector is forced to back/insure loans...and how many people will be left with no options to buy due to the costs involved.
Yes it would...that's why I was asking if he had a link to something showing a move to uplist. I think if an uplisting were to happen, or at least brought to the table by the powers that be as a viable move...we could see one heck of a jump in pps.
I realize you and all of us want them to uplist as this would make our shares more valuable, and could initiate institutional buying on a large scale if we get back up above $5...I was hoping to see something definitive that indicated they have committed to try uplisting. I see tons of commentary talking about it but nothing indicating they are in the process, or fully intend to present uplisting as a course of action going forward. I would assume the FED would dictate an uplist request...not sure. But I do hope it happens as well.
Please post a link to the proof, or list the document that shows they are going to be uplisted
TIA
they dood is a nutbag with no morals....my only regret is he got off too easy, and they didn't pursue a few others they should have.
He had a valid reason for hiding in that closet....the luminati were trying to steal his moon base plans...
hahaha....that is one screwed up company. they have been trying for years to figure out a way to turn a profit.
interesting...the L2 is only screwy with fannie and Freddie..any other tickers I try work just fine.
Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Role
link - http://www.bloomberg.com/news/2013-06-03/senators-near-plan-to-abolish-fannie-mae-shrink-government-role.html
By Clea Benson - Jun 3, 2013 5:02 PM CT .
A bipartisan group of U.S. senators is putting the final touches on a plan to liquidate Fannie Mae and Freddie Mac (FMCC) and replace them with a government reinsurer of mortgage securities behind private capital.
The proposed legislation, which could be introduced this month, would require private financiers to take a first-loss position adequate to cover price declines as steep as those seen during recessions over the past century, according to a draft obtained by Bloomberg News.
According to the draft, Washington-based Fannie Mae and McLean, Virginia-based Freddie Mac would be liquidated within five years and the U.S. Treasury would assume responsibility for their existing mortgage guarantees.
The bill, which is being written by Tennessee Republican Bob Corker and Virginia Democrat Mark Warner with input from other senators, is still being drafted. As the first serious bipartisan effort to shape a new housing finance system, it could frame a discussion that is heating up as the market rebounds.
“A bipartisan bill that’s thorough becomes, at a minimum, a good baseline to begin the process of the full debate that could go through Congress,” David Stevens, president of the Mortgage Bankers Association, said in an interview.
According to the draft, Washington-based Fannie Mae and McLean, Virginia-based Freddie Mac would be liquidated within five years and the U.S. Treasury would assume responsibility for their existing mortgage guarantees. The two companies, which have been under U.S. conservatorship since 2008, package mortgages into securities on which they guarantee payment of principal and interest.
Record Profits
The two government-sponsored enterprises have begun posting record profits after drawing a total of $187.5 billion in aid from taxpayers to stay afloat after the housing crisis brought them to the brink of bankruptcy. Heartened by the change of fortune, hedge funds including Paulson & Co Inc. and Claren Road Asset Management LLC have been buying shares of the companies’ junior preferred stock and urging lawmakers to drop plans for abolishing them.
The discussion draft of the bill says any proceeds from the liquidation first would go to the U.S. government as the senior preferred shareholder in each of the companies, and then to holders of junior preferred shares, followed by holders of the common shares.
The new agency, to be named the Federal Mortgage Insurance Corp., would continue existing efforts to build a common securitization platform and would have the capacity to help small lenders issue securities. The agency would continue Fannie Mae (FNMA) and Freddie Mac’s existing multifamily housing guarantees.
Private Sector
“We continue to work on a responsible and bipartisan proposal that will maintain the availability of mortgage credit, expand the role of the private sector in housing finance, and better protect the taxpayers,” Kevin Hall, a spokesman for Warner, said in an e-mail.
Laura Herzog, a Corker spokeswoman, said it would be premature to discuss specifics of the bill “because the process is still very fluid.”
“We hope to find something that materially improves from the past system where gains were privatized, losses were left for the taxpayer to clean up, and the system was way too thinly capitalized against downturns,” she wrote in an e-mail.
The draft has been circulated among housing-industry participants and is likely to change as they provide feedback.
“Going from various proposals to a document that contains actual legislative language is an important step in the road to GSE reform,” Isaac Boltansky, an analyst at Compass Point Research and Trading, said in an interview. “Given the size and complexity and government-dominance of the mortgage market, lawmakers have to move slowly and really take note of input from various stakeholders.”