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.
H.O.D. close coming.
I loaded 20x my shares at 1.25. So far looking like a good move.
Source? Link?
Yes change the name for God's sake. Afrezza?!?! What moron named it that? It says nothing about the product at all. Yes it works and seems like a no brainer to me, I hate needles.
BUYOUT? Someone knows something is up. HUGE Volume. Volume before price... Moon shot pop coming!
RESPONSIBLY???!!! Yeah right. Watt doesn't know the meaning of the word.
Quickly dwindling means FNMA is going the wrong direction and Watt could take the wheel and turn the bus around. That would be responsible. Going to ZERO helps NO ONE and is so irresponsible.
Sweeney put the fox in charge of the henhouse. The fox with feathers on his lips says "I didn't see no chickens".
Let the defendants sift through 12,000 and what's left over, say 100-1000, Sweeney should look at. Or better yet, what's left over is obviously where any smoking guns are hiding and both defendants and plaintiffs should have opportunity to challenge in court.
Seems to me, this like if I robbed a bank, the judge says the state may prosecute but no video evidence, no witnesses, no se. No's, no blue die, no evidence of any kind will be allowed but your free to make your case.
This whole thing is a joke.
Another crack on the looting of the century. Thanks for posting. Go FNMA!
Not to mention the convenient timing of less than a week between NWS and when Obama told Treasury, we don't need your money, we've got it handled. What a magician! Notin up my sleeve, oh what's this? Oh $50 Billion dollars!
Trump now has big reason to stop the NWS. Set the GSE's free. To expedite the implosion of Obamacare.
PULL the GSE PLUG! Trump-O-Roto-Rooter Man wash those Obama troubles down the drain.
Trump will now have no excuse. Stop the NWS now and Obamacare will fail all the sooner. Pull the GSE plug holding Obamacare together. I hope there is a giant sucking sound as Obamacare implodes and the BOOM heard around the world as FNMA shares rocket higher! One can hope.
HOW TRUMP CAN SAVE MIDDLE CLASS
The president can undo damage from Obamacare without Congress!
Jerome Corsi | Infowars.com - MARCH 22, 2017
https://www.infowars.com/how-trump-can-save-middle-class/
WASHINGTON, D.C. – Next week, on Friday, March 31, President Trump has a unique opportunity to do the right thing to benefit the middle class throughout America, for this generation as well as for future generations.
Next Friday, the Treasury Department is scheduled to make the next Net Worth Sweep, from the two government-backed mortgage giants Fannie Mae and Freddie Mac.
All President Trump must do is instruct Treasury Secretary Steven Mnuchen to inform Federal Housing Agency Director Mel Watt that the Net Worth Sweep is finished.
If Fannie Mae and Freddie Mac do not make their sweep payment to the Treasury on March 31, the two mortgage giants can begin rebuilding their capital base which protects taxpayers from ever having to bail them out in case of an economic downturn.
In the same executive order that President Trump signs to end the Net Worth Sweep on March 31, he can also remove the “executive privilege” President Obama placed on some 11,000 documents the Obama administration fought desperately in the courts to keep the American people from seeing.
As Infowars.com has reported, the Obama administration confiscated all earnings from these two Government Sponsored Entities (GSEs) in an unlawful and unconstitutional criminal scheme that has stripped Fannie and Freddie of the capital needed to continue operating safely, while depriving all private and institutional investors of the dividends due to them as stockholder owners.
In what now amounts to the largest theft of corporate dividends in U.S. corporate history, the Obama administration Treasury Department has confiscated over $260 billion from Fannie and Freddie since August 2012.
Why did Obama steal $260 billion from Fannie and Freddie?
First, in 2012, Obamacare was at risk going bankrupt after Congress refused to appropriate funds to pay the required subsidies to insurance companies to provide the low-income health insurance upon which Obamacare depended.
This left the Obama administration scrambling to find a spare $130 billion somewhere in the federal budget that could be diverted to pay the insurance subsidies for that purpose, even though it was illegal and unconstitutional for the Obama administration to do so.
Second, as Infowars.com reported from leaked documents from Sec. Geithner’s Treasury Department, the Obama administration was prepared to “wind down” Freddie and Fannie, knowing that taking all earnings from the two mortgage giants inevitably would leave the GSEs without sufficient capital to operate.
This effectively would have ended the middle-lass American Dream of home ownership because without Fannie and Freddie, no U.S. underwriter has been willing to offer the 30-year fixed-rate mortgage that millions of first-time home-buyers need to be able to both make the required down payment and afford the subsequent required monthly mortgage payments.
The leaked Treasury Department documents reveal that Sec. Geithner had planned that after Fannie and Freddie were closed, the mortgage market would be turned over to Wall Street and big banks – two of the Democratic Party’s largest sources of campaign contributions.
The result of the Obama plan would be to transform middle-class America from a nation of home owners to a “well-housed” nation of renters, on the model of major cities throughout the European Union.
Another thanks for putting your time and talents to work for us all.
You are the best.
EXCLUSIVE: OBAMA ILLEGALLY ROBBED FANNIE, FREDDIE TO FUND OBAMACARE
Obama diverted money from low-income housing to keep Obamacare alive
Jerome R. Corsi | Infowars.com - FEBRUARY 27, 2017
WASHINGTON, D.C. – Will this be the final nail in the coffin for the Affordable Care Act, commonly known as “Obamacare?”
Federal court litigation provides evidence the Obama administration illegally diverted taxpayer funds that had not been appropriated by Congress in an unconstitutional scheme to keep Obamacare from imploding.
In 2016, a U.S. District judge caught the Obama administration’s Health and Human Services Department acting unconstitutionally and therefore put an end to the illegal diversion of taxpayer funds, but the Obama administration didn’t stop there.
The Obama administration instead turned to the nation’s two government-sponsored mortgage giants – the Federal National Mortgage Association, commonly known as “Fannie Mae,” and the Federal Home Loan Mortgage Corporation, commonly known as “Freddie Mac” – to invent a new diversion of funds in a desperate attempt to keep Obamacare from collapsing.
A key date is May 12, 2016. That was the day when U.S. District Judge Rosemary Collyer, in the case U.S. House of Representatives v. Burwell, (130 F. Supp. 3d 53, U.S. District Court for the District of Columbia), ruled against Health and Human Services Secretary Sylvia Matthews Burwell.
Judge Collyer decided HHS Secretary Burwell had no constitutional authority to divert funds Congress appropriated to one section of the ACA to fund Obamacare subsidy payments to insurers under another section of the ACA, Section 1402 – the clause defining the insurer subsidies – when Congress specifically declined to appropriate any funds to Section 1402 for paying the insurance subsidy.
“Paying out Section 1402 reimbursements without an appropriation thus violates the Constitution,” Judge Collyer concluded. “Congress authorized reduced cost sharing but did not appropriate monies for it, in the Fiscal Year 2014 budget or since.”
“Congress is the only source for such an appropriation, and no public money can be spent without one.”
The U.S. District court in this ruling entered judgment in favor of the House of Representatives, barring HHS from using unappropriated money to pay insurers under Section 1402.
What was at issue in Section 1402 was the Obamacare provision that capped the amount of federal subsidies under Section 1402 that lower-income families could use to pay for insurance purchased on state insurance exchanges, particularly the difference between the capped maximum based on a person or family’s income in relation to the federal poverty level.
Congress had refused to pass an appropriation to fund Section 1402 – the section of the ACA that called for making the insurance subsidy payments.
In a report issued in March 2016, the Congressional Budget Office estimated the cost for providing Section 1402 subsidies over the next ten years (2016-2026) was estimated to be $130 billion.
Forbidden by Judge Collyer’s decision from diverting money Congress appropriated for other ACA provisions to pay Section 1402 subsidies, the Obama administration faced the prospect that the government could not pay subsidies to permit lower-income persons and families to buy the amount of health insurance Obamacare was written to provide them.
Either this, or insurers would be forced to charge middle and high income-persons and families such outrageous amounts for their insurance coverage (to subsidize the poor under ACA) that only the wealthiest could afford to buy health insurance.
In other words, Obamacare was dead in the water if the Obama administration could not find a way to circumvent the District Court’s decision U.S. House of Representatives v. Burwell to fund Section 1402 despite the fact Congress had refused to do so.
Determined to keep Obamacare alive, the Obama administration decided to find a way around Judge Collyer’s ruling.
The fix involved the Obama administration redefining the terms of the 2008 conservatorship agreements which advanced funds to Fannie Mae and Freddie Mac from a 10% dividend on moneys borrowed to the federal government’s confiscation of 100% of the future and imminent profits of these Government Sponsored Entities, or GSEs.
Miraculously, the Freddie and Fannie “pot of gold” turned out to be almost exactly the amount the Obama administration needed to meet the anticipated insurance company subsidies required to keep Section 1402 in business.
So, how did Fannie and Freddie get this pot of gold, given that only a few years earlier both GSEs were bankrupt?
In 2008, in the midst of the financial crisis caused in part by the collapse of the subprime mortgage market, the federal government decided to seize Fannie Mae and Freddie Mac, which at the time were two shareholder-owned companies.
In passing the Housing and Economic Recovery Act of 2008 (HERA), the U.S. Congress had fixed the regulatory issues at Fannie Mae and Freddie Mac, creating a mechanism for them to be placed into conservatorship at federal government’s discretion AND providing up to $187.5 billion in funds that could be advanced to the GSEs through a purchase of senior preferred stock paying a ten percent dividend.
In deciding to bail them out, the federal government took control of the two giant mortgage GSEs, with Fannie and Freddie effectively put into government “conservatorship.”
As part of the conservatorship, the federal government effectively acquired warrants, convertible at a nominal price, which allowed the federal government to acquire 79% of the GSE’s common stock.
This resulted in causing dilution in the percentage of Fannie and Freddie common stock ownership that was left in the hands of private and institutional investors.
Congress’ intent was that Fannie Mae and Freddie Mac would pay back the Treasury as the mortgage giants returned to profitability.
But after the Treasury was paid back, the terms of HERA anticipated Fannie Mae and Freddie Mac would pay appropriate dividends to stockholders, including the federal government, leaving enough funds within Freddie and Fannie to “conserve and preserve” the assets of the two GSEs, anticipating their eventual return to a “safe and solvent” operating condition.
In 2012, the Obama administration unilaterally decided to change the terms of HERA by sweeping all the profits of Fannie and Freddie into the Treasury’s general fund.
The Obama administration took this action, the so-called “Net Worth Sweep,” without any Congressional authority to do so.
The result was that the U.S. Treasury “found” a way to sweep 100% of Fannie and Freddie profits into the Treasury’s “general fund,” leaving the giant mortgage GSEs vulnerable to the need for another government bailout should another disruption occur in the nation’s economy.
Because of this decision, the Obama administration on its own authority simply decided to discontinue paying dividends to private and institutional owners of Fannie and Freddie common and preferred stock.
Congress, in passing HERA, never anticipated the Obama administration would take over Fannie and Freddie and strip the agencies of all profits – a move that left private and institutional shareholders in the cold.
Leading up to the decision to sweep Fannie and Freddie’s profits, the GSEs return to imminent profitability was known only by a few government officials and their consultants.
Their own internal forecasts, uncovered in unsealed court documents, showed that Fannie and Freddie’s profitability would soon dramatically outperform the amount of the allowable 10% dividend that the Treasury would receive under the existing Senior Preferred Stock Purchase Agreements.
On August 17, 2012, these same officials and consultants succeeded in engineering with the Federal Housing Financial Agency, FHFA, and the Department of Treasury an amendment to the Senior Preferred Stock Purchase Agreements that allowed the U.S. Treasury to grab ALL Fannie and Freddie profits – regardless how large Fannie and Freddie’s earnings might be.
Between 2012, when the Obama administration began its policy of confiscating all Fannie and Freddie profits and now, Fannie and Freddie have paid the U.S. Treasury general fund more than $240 billion in dividends.
The point is that after May 12, 2016, when U.S. District Judge Rosemary Collyer ruled that HHS had to stop diverting ACA funds to pay Obamacare subsidies, the Obama administration realized that HHS somehow had to fund the estimated $130 billion the HHS would need in un-appropriated monies to pay health insurers the ACA subsidies required to keep Obamacare alive in Fiscal Year 2013.
Plaintiffs litigating against the Obama administration’s confiscation of Freddie and Fannie earnings have challenged in court whether the Obama administration’s decision to amend the Preferred Stock Purchase Agreement in August 2012 and sweep GSE profits of $130 billion in 2013 ($82.4 billion from Fannie Mae, and $47.6 billion from Freddie Mac) was an attempt to circumvent Congress on the single most important policy priority of the White House.
The timing was particularly interesting given that September 2012 marked the beginning of the sequestration discussions.
Government documents leave little doubt profits from Fannie and Freddie confiscated by the U.S. Treasury have been used by the Obama administration to pay Obamacare subsidies and other items not appropriated by Congress, in complete and illegal circumvention of the District Court’s ruling and the Constitution’s determination that only the Congress shall have the power to tax and spend.
For instance, Chapter 3 of the Congressional Budget Office publication “The Budget and Economic Outlook: 2015 to 2025” notes on page 63 that the major contributors to mandatory U.S. government spending include “… outlays for Medicaid, subsidies for health insurance purchases through exchanges, and the government’s transactions with Fannie Mae and Freddie Mac.”
Why Fannie and Freddie are specified in this context, when Fannie and Freddie have had sufficient earnings to operate without government subsidies since 2008 is made clear a few pages later.
On page 65, in Table 3-2, the CBO report notes “mandatory outlays projected in CBO’s baseline” from Fannie Mae and Freddie Mac for 2014 is -$74 billion and for 2015 a total of -$26 billion.
The figures are “negative dollar amounts” because instead of paying out to Freddie and Fannie, the U.S. Treasury is collecting from Freddie and Fannie, with the proceeds going into the U.S. Treasury general fund to pay “mandatory outlays,” including evidently continued subsidies to insurers, as specified by ACA Section 1402.
In footnote 14 on page 8 of that CBO report lets the cat out of the bag, noting the Obama administration considers payments from Freddie and Fannie “to be outside of the federal government for budgetary purposes,” recording cash payments from Freddie and Fannie to the Treasury as “federal receipts.”
The Obama administration evidently considered this all-too-convenient redefinition of terms allowed the government to argue the use of Fannie and Freddie profits to pay Obamacare Section 1402 subsidies was not in violation of the District Court ruling.
Why? Evidently because Fannie and Freddie profits were not taxpayer-generated, but were profit payments generated by Government Sponsored Entities that still had some common and preferred stock private and institutional shareholder ownership.
In the same footnote, the CBO takes exception with the Obama administration, commenting the CBO considers profit payments to the Treasury made by Fannie and Freddie to be “intragovernmental” receipts going into the same Treasury general fund pot, to be mixed indistinguishably with taxpayer revenue, not distinct public/private GSE “receipts” separately accounted for in the Treasury general fund as distinguishable from taxpayer revenue.
If the federal courts conclude Fannie and Freddie GSE “receipts” to Treasury still need Congressional appropriation to be spent legitimately by the executive branch of government, the Obama administration will have been exposed as having operated outside the Constitution in its desperate attempt to keep the ACA from imploding.
What should be outrageous to progressives understanding the Obama administration subterfuge to keep the ACA alive is that by confiscating Fannie/Freddie profits to keep Obamacare alive, Obama ignored core members of the Democratic Party’s core constituency – affordable housing advocates and minority groups – with little explanation.
Because I had an order in at the 200 that needed to be filled and the MM's were nice enough to make it happen, lol.
Bought More! Love the blue light special.
I have a strong feeling the longs will be whistling Dixie real soon and those short will be in a world of hurt.
Hollywood will make a movie about the GSE saga. Bank on it. They never like to pass up a great story especially if we get the underdog wins ending.
The word 'Toast' comes to mind when the sec steps in. It will open on the greys for about 10% current value. The best you can do is read up on the subject and play accordingly. Good luck.
Unless the big bombshell news hits. Then people on the outside looking in will all be scrambling to get in and it will move so fast that by the time you hit the send button the ask will be 2 bucks higher than your offer. Chase it.
They misspelled one word.
Freddie Mac to make multibillion-dollar dividend payment to U.S. Treasury
Last update: 16/02/2017 11:28:43 am By Austen Hufford
Earnings rise sharply in latest quarter
Mortgage-finance company Freddie Mac said it would send a $4.5 billion dividend payment to the U.S. Treasury, after posting a sharp profit increase in its latest quarter and having its capital buffer legally (illegally is correct) decrease on schedule.
Freddie(FMCC)reported a fourth-quarter profit of $4.85 billion, compared with a prior-year profit of $2.16 billion and a third-quarter profit of $2.33 billion.
In the latest quarter, Freddie took a derivatives gain of $6.38 billion, which it uses to hedge interest-rate risk. In the same quarter last year, Freddie took a gain of $744 million. The company uses derivatives in an effort to counteract that effect, but because of accounting rules, the derivatives can make large profits or losses appear over short periods.
An expanded version of this report appears at WSJ.com (https://www.wsj.com/articles/freddie-mac-sending-4-5-billion-dividend-to-treasury-1487253850?mod=mktw).
(END) Dow Jones Newswires
Time will tell. My bets are that you are very, very wrong. Go ask Along4Zride how his short is paying off.
The boss has changed, the policy has changed and the lawyers follow suit. Extremely bullish.
!!UNOPPOSED!! Yeah Baby Yeah!!!
Holding from $6. Chart still looking good, maybe we move still higher into earnings.
Sounds to me like someone is pleading, praying, hoping beyond all hope, shaking in their short boots desperately trying to change the momentum, yet haven't swayed a single share.
Pathetic.
Maybe no fraud but if you or I tried pulling a three card Monty like that and put it on our taxes, I'd bet my last dollar the IRS would come breathing down our necks pretty heavy.
It's good to be the king.
Illegal for everyone else but not for king Sam.
No magic wand needed, just the stroke of a pen. Easy enough for ya? Get long or get run over.
CAS sounds like as good of a reason any, plus the RSI and MACD have totally reset and we're bouncing off the 50.
Plenty of room to run!
Look out shorty the roof is on fire!
I think Mnuchin said what he needed to say to get the vote. Once in, if congress can't get their act together, he will do what needs to be done. Clint Eastwood lone plane drifter style. I also think his first words about recap and release were his true feelings. Today was like, don't shake the tree so hard the nuts fall out.
So what. He's going to be confirmed. You don't get into any position like that without some skeletons in the closet and congress knows that better than anyone.
You forgot to add the One, two or three in front and some more zero's to the end.
$100.00 $200.00 $300.00 Your children's children children will be broke.
I'll agree with that. How about one for one share increase.
You've been here almost as long as I remember. But never fear, slow learners
can still win here, if you don't wait until it hits $100.
Nail on the head dude. Nail on the head. But then they all bought into a Clinton victory and didn't see the upset coming. We're going to get the last laugh here. I'm banking on it.
Yes. He bought them from Ackman.