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He's probably on the phone with the bank and the transport company..."yes, I'd like to have some trucks backed up so I can deliver some truck loads of pennies"...
Are you adding Saturday to trade on that notion?
Now to prove the one person who benefited on top of that food chain...guess who might that be?
Not really, I believe I've seen this document before...just not on the Treasury's letterhead...
It basicly shows that the Treasury wanted to change the business model/GSE's future. The Treasury has no business doing any such thing. They're a finance dept...i.e. government collection agency...How the GSE's should operate should be regulated via laws in place by Congress and regulated by FHFA...no where does it say in HERA 2008 that Treasury should make any changes to the business model/corporate bylaws or how the GSE's should operate...the document clearly shows that they were contemplating to make those changes...e.g. a collector changing the business model or how a company should operate if the private company filed chapter 13...the collector can collect on a debt, but the powers of how a company should operate would be under the discretion of the company's executives...
Have the GSE's to pay for all the costs just so they can replace the GSE's? If they wanted to do that then the taxpayers should be paying for those costs not the GSE's. What company in America would say sure...we'll pay for all of that just so you can dissolve the companies? Give up the master servicing rights? Why would they want to do that? That's suicide...and FHFA is frustrated because the GSE's won't cooperate?...lol...well HELLO!...Mel, did you forget that you're suppose to revive them and not dissolve them? WAY TO GO FANNIE FREDDIE! STAND TALL AND BE PROUD. YOU SAVED AMERICA FROM A DEEP DEPRESSION. YOU BAILED OUT AMERICA, AND YOU BAILED OUT OUR OWN GOVERNMENT. WITH OUT YOU TWO, THE GOVERNMENT WOULD HAVE PRINTER MORE PAPER AND FUNDED A WHOLE LOT MORE THAN WHAT WE SAW...
I don't see Ackman taking a risk that he may or may not win...I honestly feel he made the contract with only one thing in mind...to increase shares...and if the price did hold his target then even better...but it wasn't the primary intention...
Ackman is holding for long...it doesn't matter what the price is now...I'm sure he would have made that deal regardless of what the price was at the time of the contract...anything under $30 for these stocks are a steal considering all the assets they have...
Probably not...it's going to be just another transfer via SEC filing...
I think that was the whole idea...to have another party purchase more shares for him since he can't purchase more himself...
I'd imagine whenever the funding is agreed upon by both parties...last day tomorrow and we're far from $3.50...unless some miracle happens...
The GSE's bailed the government out from catastrophe...without the GSE's the government would have seen much more damage...they did their duty...it's time to recapitalize again for future catastrophic events...
I'd imagine it will temporarily drop the price to maybe near the 200ma...
I'm estimating $12-$13...
AIG...verdict...
Eeekkk...I don't know about that one... May have to buy in on Freddie now...
Descending wedge forming...about to reverse...
I don't need to see the original...I just want to see 'A' copy...
Is it not electronic?
No sameday or sooner? News like that needs to be seen ASAP...
I'll stop supporting my kids...then they'll be poor...you can donate then...
Just let me know...
lol...not that good of a cause...
Let me know if you want me to make a donation to a good cause...I can send it via Paypal...just message me with an email address...
So what was the coin toss result? Who's paying for the the docs?
Can you smell it? It's so close...
...aka...Hussein as the other white meat...
G.O.V. is soooo screwed...
Huebner, of Davis Polk, figured in one of the recently disclosed documents, an e-mail on Sept. 23, 2008, to Thomas Baxter, the top lawyer for the New York Fed. In it, Huebner writes of “the real joy” that will come when the government collects tens of billions of dollars in fees and interest on the loan.
In a preliminary ruling in the case in 2012, Wheeler wrote that he didn’t accept the government’s position that the Fed’s emergency powers allowed it to demand stock from a company.
The emergency powers clause at issue doesn’t specifically mention equity, only that that Fed can set an interest rate for emergency lending.
Government had no right to take 80% in AIG bailout: Greenberg lawyer
April 22, 2015
By Mark A. Hofmann
Former AIG Chairman Maurice R. Greenberg.
WASHINGTON — The federal government did not have the authority to demand nearly 80% of American International Group Inc.’s equity in return for financial assistance during the 2008 financial crisis, an attorney for AIG investors, including former AIG chief Maurice R. Greenberg, told a federal judge Wednesday.
In closing arguments before Judge Thomas Wheeler in the U.S. Court of Federal Claims in Washington, David Boies said the section of the Federal Reserve Act under which AIG received the first $85 billion of what ultimately amounted to more than $180 billion in federal assistance — all of which has been repaid — never in its 75 years has required equity as compensation in return for financial guarantees, except in the case of AIG.
Mr. Boies, who is chairman of law firm Boies, Schiller & Flexner L.L.P. in Armonk, New York, said the government made a “political decision” to single out AIG as a scapegoat in the financial crisis.
The plaintiffs in Starr International Co. v. United States allege that the government’s actions cost them billions of dollars in lost equity and are seeking to be repaid.
The government countered that the plaintiffs suffered no harm. At the time AIG directors agreed to accept the $85 million loan in return for allowing the government to take a 79.9% stake in the company, all involved in the transaction agreed that the loan was preferable to bankruptcy, Justice Department attorney Kenneth Dintzer told Judge Wheeler.
If the Federal Reserve, which approved the loan, “had wanted to harm AIG in some way, all it had to do was nothing,” he said,
Mr. Dintzer said that without the loan, the value of AIG stock was “zero.” He added that “there never was an entitlement to a loan.”
At the conclusion of the closing remarks, Judge Wheeler said “not surprisingly, just about everything in this case is still in dispute” and told the parties that he expected to issue a decision relatively soon.
http://www.businessinsurance.com/article/20150422/NEWS06/150429921
...nothing a little hot steam can't unseal
You can do it!!!
MACD about to bust a move on the 60!!!
You're absolutely right...breaking wind today...I'm going to go sit on my throne now...
$2.80 close today...I called it...
Bullish Harami...new high...new support...looking good!!!
A government is not a hedgefund...they don't make investments...they make payments...a government is not a bank...they don't make loans...they regulate the laws...
Mo' money mo' money...
Settlement Terms:.
Payment is cash only. Hence the term cash-settled.
Delivery method:
Several truck loads of pennies