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What are the crucial tumblers?
Great news.
I missed most of it. Mayoupoulos and someone else (Olick?) were talking.
At least they're talking about it.
Privatization with government backstop.
Open up competition.
Mayoupoulos says money going to treasury will come to an end, but maybe
policy makers may not want to give up sweep -wishy washy on that point.
It's been about 7 months. Way overdue.
I'm looking for En Banc ruling by the end of this month but could happen any day now
Why wait until Tuesday?
3 Steve-O's immediate recap funds after Tuesday wink
"immediate recapitalization"
Steven Mnuchin calls for recapitalisation of Fannie and Freddie
Financial Times
Kiran Stacey in Washington
Financial TimesSeptember 6, 2019
The US Treasury secretary has called for the immediate recapitalisation of Fannie Mae and Freddie Mac, the two institutions which guarantee most US mortgages, in what the Trump administration pitched as a first step to free them from public control. Thursday’s push by Steven Mnuchin comes more than a decade after the two groups were bailed out at the height of the financial crisis, nationalising the giant government-sponsored companies whose role is to expand US home ownership. Mr Mnuchin said his plan would not imperil the 30-year fixed-rate mortgage, the wide availability of which has been made possible by the government guarantees offered by Fannie and Freddie.
"Immediate Recapitalization"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150969161
Notes:
Footnote 59 at bottom of p 27 redefines FHFA role from Conservator to Regulator.
FHFA is not a conservator anymore. It's a regulator. Structure unconstitutional per en banc (although I don't see court opinion).
Bullet at top of p 28 ends nws.
More to come in morning.
Yet on page 28 the nws ends.
1 more hour to buy in.
We won't know the plan until friday morning.
Booommmm
Boooom
#GSE plan to be released after market close tomorrow. Journalists to be briefed and embargoed until then.
— ACG Analytics (@ACGAnalytics) September 4, 2019
Please provide link to plan.
Thanks Stox.
Where is the Freddie lawsuit opinion we're waiting ?
https://law.justia.com/cases/federal/district-courts/texas/txsdce/2019/
7 months waiting on en banc so far.
Crazy low volume
The original reason for OBS was for lehman newco imo.
Had judge Chapman listened to Mr. Wu and Mr. Gregory instead of relying on big lawyers for opinions, maybe CTs would have been paid same as ECAPS out of the 18th distribution $$$.
Here's a kicker for you. Are they still required to pay us the same as ECAPS? I think so, they just mis-managed the money. LBHI and JPM get to step up to the plate on this one.
We get $5 per share that puts an end to lehman newco.
Steady volume and pps climb
He certainly did. On uplist and symbol change do commons need to settle accounts first or no, just uplist?
Stop trading???
Symbol change???
Buy.buy buy !
I repeat many times that august 26 is the last day to buy fnma and fmcc in 2019
Looks like the float is locked.
I don't see the article. Can you post a link?
https://en.wikipedia.org/wiki/Federal_Housing_Enterprises_Financial_Safety_and_Soundness_Act_of_1992
Interesting analysis posted in #Fanniegate and Yahoo, about a felony committed by the FHFA in 2008 with regard to scrapping their statutory Capital requirements during Conservatorship.
In the absence of new capital rules, the ones set forth in the FHEFSSA are still binding and a Conservator can't say that they are not.
HERA doesn't authorize the conservator to do it.
The Critical Capital level would stand at around $11 billion of Core Capital as of today (half the amount of Minimum Capital level published by Fannie Mae as of end of 2018)
If the Treasury reimburses the amount due, FNMA's Core Capital will surpass the $11 billion Critical Capital threshold for sure, leaving the Conservators with no other option but to release FnF from Conservatorship, as the critical capital level is the measure to place FnF into Conservatorship.
Let alone, that this find will increase the monetary compensation sought for damages
That's Deutsche Bank, not CTs.
ANALYSIS
Proceedings qualifies as “other consideration provided on the corresponding Primary Claim” under Section 8.13(a) of the Plan, and as a result, Appellants’ (Deutsche Bank) Guarantee Claims are deemed satisfied in full.
CONCLUSION
For the reasons set forth above, the order of the Bankruptcy Court is affirmed. The Clerk of Court is directed to terminate all pending motions, adjourn all remaining dates, and close these two cases. SO ORDERED.
Dated: August 16, 2019 New York, New York KATHERINE POLK FAILLA United States District Judge
What is 59891 on epic?
Notice of Proposed Distribution : Notice of Nineteenth Distribution Date and Record Date in Connection with the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors filed by Garrett A. Fail on behalf of Lehman Brothers Holdings Inc.. (Fail, Garrett)
Very low volume today
I didn't look at yesterday's trades.
Lots of days with no trading. Maybe that's why he was told he couldn't buy.
You are absolutely correct.
Do you see ANY trades going through?
I have not been able to find it either. Maybe pro se does not get to see it, only lawyers. IDK
Looking good.
We had a long discussion about the term 'customer'. I don't recall it now.
*** LBHI AND JPMCB SETTLEMENT AGREEMENT DATED 2/1/2017 - Docket 54683 page 25 of 53 ***
Major Highlights to work on in District Court:
1)
"“Unaffected Matters” means claims filed by or on behalf of any JPMorgan Entity
or any affiliates or funds of a JPMorgan Entity, or in which any JPMorgan Entity or any
affiliates or funds of a JPMorgan Entity has an interest, that are not Settled Matters,
including without limitation claims filed by or on behalf of a JPMorgan Entity as agent,
for a customer or for a fund that it manages, claims relating to Canary Wharf, claims held
from time to time by a JPMorgan Entity’s distressed claims trading desk, and any other
claims that JPMorgan did not assert were covered by LBHI’s August and September
2008 guaranties and security agreements in favor of JPMCB’s subsidiaries and affiliates.
For the avoidance of doubt, claims relating to the LBSF Action are not Unaffected
Matters. Lehman reserves all objections and defenses to the Unaffected Matters."
2)
"ORDERED that LBHI's Capital Trust Preferred Securities are parity with
LBIE's 5% redeemable Class A preference shares per LBHI's relevant
prospectuses."
3)
ORDERED that LBHI's Capital Trust Preferred Securities are parity with the
ECAPS' Preferred Securities per LBHI's relevant prospectuses and with
a securities holder's, prior to purchase, knowledge of and reliance on
the general guarantee.
Investment billionnaires say farewell, best to invest with Average Joes.
Invest with billionaires or invest with average joes. The choice is up to you.
So which is it?
Top Reactions
YanksGhost
YanksGhostyesterday
Here's the interplay that is shifting the White House Plan back and forth with Treasury. The SPSPA must be basically gutted for an administrative reform to be at all comprehensive. No Congressional intervention is likely during election season. The SPSPA provides an approx. $250 B draw backstop which even the ABA cites as adequate to deal with another crisis. However, multi-family business extensions and risk from added >43% DTI loans (even if the patch ends) are new risk categories' "safety and soundness" seems to indicate a SIFI-sized capital standard at around $275 -300 B (5.5%) for emergence with new, private capital backing. Since any GOV guarantee requires Congress to approve, the higher capital standard helps bridge the timeline until/if a reform Act eventually passes. Nothing can change until the SPSPA is altered, and THIS appears to be the only way such action can meet the Administration's timelines for action. The GOV will recoup its losses from "cleaning the slate" with the SPSPA by recovering its reduced number of warrants at the $200.00 IPO share price, netting $400 B vs. the $100 B expected in the Moelis Blueprint.
Common shares rise to $10+ by end of 2020 buyback. Preferred shares remain intact as part of the new capital structure with partial dividends resumed and a trading value at an estimated 70% of par to begin with.... same time basis: end of 2020.
Collins en banc is what it is, as is Lamberth and Sweeney. GOV has $400 B in its coffers to cover any contingency and keep the rest.
JMO.
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ReplyReplies (34)82
***BREAKING NEWS***
The eagerly awaited "Treasury Housing Reform Plan" is actually the one-and-only "(No) Secret Sauce Plan"... and... it is predicted to release Fannie Mae and Freddie Mac from conservatorship "at any moment."
This is sure Good News for all common shareholders.
Sorry, but it is not such Good News for JPS shareholders who must wait 5 more years for dividends to be restored and bring share prices up to or near par value.
Sorry Glen, your Seeking Alpha report gets blown out of the water by this. And, sorry ACG Analystics, your predicted 50% rise in JPS value is now ruined by "The (No) Secret Sauce Plan" too.
But Plan founder Secret Squirrel has stars in his eyes for common shareholders whose share price immediately goes to $200.00 as their shares relist on the NYSE under a new CUSIP number. Then they are getting a 5 year vacation for recapitalization with some inexplicable exemption from having enough capital to support their guarantee and debt risks. But I digress...
Hey, have a nice weekend, everybody. The Secret Squirrel is about to deliver huge riches to all common shareholders momentarily. He just can;t tell you how this happens... because... IT'S A SECRET.
LOL.
Calabria may be the caus eof the long timeline.
Enbanc
By next Monday 08/12/2019,
202 days (Including next Monday 08/12/2019) Or 6 months 21 days
As its more than 200 days, it’s significant to note down as we entering into the highest time period for the ruling.
Yes, sell and move on.
Catbird, please advise. Is it time to sell and move on? This board has been saying for 10 years that R&R is imminent.
"Expected $1.8 billion dividend to the U.S. Treasury by September 2019; cumulative payments to
date total $119.7 billion, exceeding cumulative draws by $48.1 billion.
"
BY SEPTEMBER 2019
Not by September 30, 2019
Is the last sweep August 31, 2019?
I see Joe is still here talking to himself.
You
are the one buying it Joe, better ask that question to yourself.. why buying it.. lol!!