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Well....so far this administration has turned 401k's into 201k's, or for some 101k's. Housing prices are now starting to fall drastically, so more of your wealth evaporating and much higher interest rates soon to negatively affect those with adjustable rate mortgages, and home buying will drop, no one knows how badly though. Also a Clowngress and Senate that passed a massive infrastructure bill under this administrations push, only now to see much of that money being put towards and evaporating by record diesel cost and not the roads building. There are zero electric back hoes, crains, front end loaders, cement trucks, etc. On top of all this, record inflation which is actually reported 2 to 3x lower than it actually is. And a world laughing at our leadership!
Yet on here we have folks (mostly JPS holders) actually advocating and cheering this administration to do an administrative release! Absolute suicide move. You may as well grab a knife and cut your own throat, because that's exactly what the outcome will be by supporting any action on the GSE's by the current administration. I do believe midterms will start to provide us a true path out of this mess. Then 2024...I know, more waiting and no one is getting any younger, but moving in haste on this will not be good for any of us.
Wait for it! The hedge funds manipulating the JPS crowd here see better oportunity coming in this plummeting market. Soon, they will sell off their JPS holdings and stop their litigation to buy the bargains out there. Wait for it. There's no reason (aka news or other announcement) for the JPS and common price imbalance. Many here have said, as one goes, so should the other. That means either commons should revert to its JPS relationship and go up, or JPS should revert to down. There's nothing saying release, dividends, conversion, court win, nada! So....wait for it.
So based on that logic, dilute or even wipe out all JPS is acceptable also.
Can someone explain to me how JPS get a super duper favorable outcome by fighting tooth and nail with the government/FHFA?
The GB plan followers say capital stack matters...only outside conservatorship. What matters then?
Liquidation pref. = not happening now, or ever. We are making $$$
Dividend = only once there is enough capital, then yeah, they may start cutting dividends again.
Buuuut...you say conversion? How? Once released, that tells me that commons voting rights must be reinstated, who votes for any conversions or cap raises? Yup, you got it! Common shareholders. Why would government create billions upon billions of cheap shares to create a voting nightmare?
Release will most likely involve a consent decree or something like it, to help with a temporary backing while capital is allowed to legitimately build. Hence, no dividends for anyone for awhile, in my opinion. So what's left?
Common share price appreciation.
JPS price appreciation.
The big question is : what will treasury withhold on and/or write off? Seniors or warrants? If I was a betting man, and I am, I'd say the commons have a higher net price rise potential for a higher payout later on. Does anyone have info on the governments senior shares as far as if the value is capped like other jps shares ($25, $50, etc)? Is there a top price for seniors?
Will government do the right thing and void both seniors and warrants, or will they hang onto some or all of that class which has the highest gain return potential? Only 2024 will tell. Lol
My one post is going to be giving you and Lite a thumbs up standing ovation. Send these to treasury, FHFA, congress, all the thief's.
Excellent posts! Thanks for the laugh.
Maybe not too much longer! If midterms provides a flipped house and Senate (especially a veto proof one) and the house and Senate spontaneously impeach a few people, this could rocket - definitely. There would be a definite fix of the law SCOTUS ruled as being unconstitutional, where we now have a director beholden to the executive branch. A flipped Congress and Senate could remedy that by getting rid of the one FHFA director and going to an appointed board, as it should have been, since these companies are too politically controlled at a whim.
So hang tight! I think the closer midterms get, the more exciting this will become. Current gang is under some very severe pressures with all that is going wrong for them as we enter into an election cycle, so do they really need or have the time to add to their list of SNAFU's? I hope not. More than willing to wait until 2024, and after the worst part of this administrations recession or stagflation hits. It would be a supremely stupid idea and unconscionable to release these companies into a housing market that is barreling downward and an economy in such disarray.
This is my one post.lol hope it sticks
And as you realize, investor relations positions are not 100% preffered shares. I'd say maybe 30%. Majority of mom and pop and institutional 401k/IRA houses want commons. So the reality = not good for JPS, I would think.
Hey, maybe Bradford should apply! Lol
Im sure it calls for advocating everything jps.
The companies can currently be directed to buy out shares via FHFA or treasury. Already been ruled government can do what they want.
I thought someone posted there was only like 30-35 billion JPS at par value? Where did you get 90 billion?
I proposed something like this before, but with 35 B for JPS and I pitched between $25-35 common buy out. Although Ackman set a price range for commons way back and is still realistic. Something like $24 to $47 a share (guessing here).
A buyout and re-IPO is probably the best solution, But government would possibly lose having board seats and a new charter would be needed.
Guido, you are an accounting animal. Lol
Glad you're on our side. Thanks for all you do.
No argument from me! That sounds about right.
If we would have hit 0.50 on either GSE, I would have dropped another 10k on each. I'm leery of whoever is price manipulating this currently though.
Most notable economists are predicting stagflation. Ala Jimmy Carter 1970's. You only get that when you have idiots running the country. Food shortages are going to be hitting worse, next - farmers have been warning, I believe them over government 7 days a week.
A baby formula fiasco that never needed to happen. My nephew used to work for Abbott and the plant the morons closed here in michigan is cleaner than most hospitals, based on my nephews assessment from visiting it numerous times for his job. So do we have incompetents running things? You betcha.
Not going get better economically, but worse....so who's ready to give S. Thompson and Biden a big rah-rah to do a GSE Fubar release?
Obviously GB, who else?
Dam! Wish I had your deeeep pockets.
Lmao! Best Wiseman crack ever. Lol
"Calhoun!", what?!
You look like a teenage girl that meets her rock star.
Sweeny saw alot of the docs, unredacted from awhile back. Made numerous adverse comments about the government, but stalled, extended, pushed out, rescheduled, kicked the can until there was nothing but a dime size piece of metal. She KNEW what they had done but helped them add about 4 years onto this fiasco.
If you remember a ways back Brooge, I had like 112K FNMA when I signed on to ihub, so I've been accumulating. A little more FNMA but alot more FMCC
No, not Clark. Been here B4 him. I'm long Commons only FNNA & FMCC. about 205k shares
Who has money they can part with right now, especially with stagflation on the horizon and at minimum, two years of financial pain coming at you? But of course, lay in bed with a group who specializes in screwing investors. Lol
If the government still has the GS and MS guys involved, maybe their job is to manipulate the stock and pref prices to destroy all confidence in them? What else has been announced that they have done?.... Exactly, nothing.
I would not put it past the idiots in government to be in league with a couple banks to destroy a minority shareholder group so the government can control 100% and those same banks get rewarded when government fully realizes it's theft/fraud.
Like I said yesterday, suckers run up and then slammed. Was happening with Commons a ton until we got below $1. Now it's prefs turn to get duped.
Buying on any news that has not moved the stock meaningfully, and I mean a big dollar or two, you set yourself up for whoever is fing with us. They wait for a nickel or dime up, then drop the floor out from under those who bought. Pay attention to volume.
This is true! He did us a very big disservice back then. Allowed them to pull the wool over his eyes. Will he play along again?
Thanks. Thought it was worked into one of those trillion dollar relief packages (infrastructure) and thought it was still in play?
Yeah, agree trunkmonk. You'd need some major cheddar, dinero, Benjamins, to make money flipping here.
Ha ha ha, ramens gotta be getting real old. I've been in the stock before him though, I think. Bought my first 30 shares about 1st qtr of 2008 at approx. $30 a share, and I still have them.
Do they ever stop worrying about color? or leading a press release with race and color? It is very telling that affirmative action takes precedence over job know how. That press release venacular also makes it sound like S. Thompson has a whole one year of experience! Lol. Probably alot of truth in that.
Boy, Bradford is really infatuated with Thompson and Waters....that should scare the bejesus out of anyone following his thesis.
That's a perfect interpretation of the FHFA acronym with this new S. Thompson/Biden team! Lol Bravo
Yep. Agree. I don't think Biden has appointed one qualified person yet. Many thought Harris would be his only and biggest mistake. Lol not even 1.5 years in and what a mess.
Another suckers run up. Cause a little stir in the stock, get suckers to buy in over a few days, then slam the price back down following week. How many times have we seen this?
Doubtful. First things she'll announce is current administrations mandated excutive orders for free whatever.
Yes, absolutely. They inter weaved the GSE theft of their netvworth into probably many government spending programs that we were never aware of, is my bet. That is why they are fighting tooth and nail to keep the GSE's in servitude indefinitely, with courts being the enablers because they know the government screwed the pooch on this huge, massively, and the truth would have major reprecussions with Wallstreet and society at large. So the judges revert to making up new fangled and twisted rhetorical decisions that make shyt for sense to any of us.
Then who's ever going to invest capital into a socialist give away program? I doubt her and Brandon's crew can do what is needed. Just look at what is going on NOW. Like with Calabria, be careful what you wish for. She will be 180 from Catman. Neither was or is confidence instilling.
Whoooopi, not one news outlet even mentioning.
Exactly! She won't make a whip of positive difference. She gets more power to bankrupt or give away, is all.
That's funny how it says she will be in a 5 year term... NOT! Only until next election.
When she gets appointed or not... Commons up or down a penny, JPS up or down a nickel, so not gonna make shit for difference. Probably more likely we see more downside with her appointment since she is all about bankrupting the GSE's via socialist give aways.
We are not rich enough to release, but rich enough to steal from forever (government logic)
That Dam Howard writes novels!
5 billion is not 100% or 150% par. It also means commons get their voting rights back if that 5 billion gets paid out, which means very unlikely jps conversion. So say again how capital stack matters???