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Excellent response from Watt. He is putting responsibility where it belongs....On Trump, Mnuchin and Congress...and he is continuing to voice his concerns, the only power he really has.
Good job Watt! Now, Mnuchin, DO SOMETHING ABOUT IT!
I'm 99% sure his power as FHFA director gives him unilateral authority to stop the sweep. I remember reading it somewhere and it will take me time to find it.
They basically told him to stop the sweep and he keeps saying it's congress' job to stop it. What a complete imbecile.
Here comes the drop
Is PDGO in some kind of position to barrel and sell oil? If so, this could move to $.10 but only if profits are flowing. The company is in shambles and the share structure isn't very appealing.
Good point. This is a tangled political mess just like everything becomes once the gov gets involved. That's why it boggles the mind when people want more gov control.
Good post
Fannie Mae Reports Second Quarter 2017 Financial Results
August 03, 2017
Tim Mayopoulos
Today Fannie Mae reported net income of $3.2 billion and comprehensive income of $3.1 billion for the second quarter of 2017. We paid a $2.8 billion dividend to Treasury in June 2017. Through the second quarter of 2017, Fannie Mae has paid $162.7 billion in dividends to Treasury. We will pay Treasury another $3.1 billion in dividends in September 2017 if FHFA declares a dividend in this amount.
So far, no word on whether or not FHFA declared the dividend, but nothing says the status quo will be changed.
I'd really like to own shares in a company and then tell that company how much I'd like to receive in divis. SMH.
Merger? Do you have any proof of that or just wishful thinking?
Beautifully written. Thanks for posting
So far, delay is their only strategy. Wear down the opponent. Time is on their side. Thanks to billionaire hedge fund managers, the little guy has a chance. I'll eat the crumbs from their table.
Normal, yes. But the number, reasons, and how long we've been delayed is beyond any reasonable expectation.
I wonder what excuse for a delay will be granted this time. Your honor, govt asks for a delay because my sister in law's cousin's dog didn't sleep well last night due to binge watching Game of Thrones.
Poor dog,
Granted.
What announcement?
The senators basically asking Watt and Mnuchin to recap the GSEs.
Good synopsis. I suppose we're all suffering from the same delusion. It's really sad when you think about it.
It's crazy how we've got the most positive news in a long time and the stock is still trading sideways. The slightest bit of negative news and it drops like a rock.
SMH.
Got some in a Roth and some in a custodian account for my daughter along with some in my regular account. Great long term play here IMO.
In since WLC at $.50 so I'm a happy camper for now. Looking for a strong multi-bagger from here.
I don't think so, but anything's possible. The SQM pretty much gives credibility to the business so I'm leaning towards a legitimate up and coming company that I can get in on at the ground level.
But everyone has to do their own DD and risk management.
Good luck to all!
When a stock breaks new highs, I wouldn't sell until a trackable BB is formed. GL.
Thanks for the post. Mark for you
Agree that we're better off now, but for crying out loud, what's it going to take to get the govt to stop the illegal sweep?
“We expect our dividends to be paid,” Mnuchin said
Nice find!
They want an answer by 29 September. This goes right in line with 3q sweep. Interesting.
I wonder if the paid off politicians finally got someone to line their pockets to end the sweep. Wouldn't be surprised. But however the NWS ends, I don't care, as long as it ends.
Been a long time since we had pre market activity like this. Last time was a run up to $6. Let's hope for some nice gains here. I need to put a down payment on a house of all things, lol.
Exactly. I don't believe that part will happen without another major lawsuit. Warrants should not be exercised.
Excellent dd!
So many mixed messages
These frigging crooks!
I bought 250 sh at $5 and put it in a Roth where it will sit and grow for years to come.
This can potentially reach $40+ in time and the dividend will only make it more attractive for institutional investors as that rises as well.
I don't think it's appropriate to get on a soap box about this. Very un cool.
Anyone want to place bets on GSEs sending billions in NWS to Treasury?
From a realistic approach, government needs cash:
hurricane relief
debt ceiling
end of FY
I anticipate a big sweep at end of month - to include the mortgage fine/settlement, especially since the 75 day promise failed to produce results.
I suppose we can be hopeful that perhaps next quarter will be different and perhaps GSEs will be able to keep from actually hitting zero capital, if not treasury will get profits plus the 600M from the limited capital FNMA has been holding.
Unbelievable. Truly you have to wonder what is going on behind the scenes that makes them take such a blatantly defiant and contradictory position.
Neither did anything for us. They're both useless
You're joking, right?
We seem to be in a holding pattern waiting for today's court summary.
Tomorrow we should see a market reaction.
That's absolute garbage AND those clowns are factoring in the warrants being exercised, which will NOT happen.
That's a strange prediction considering FNMA has been as high as $80 when it was less profitable.