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Funny that no senators have took a positive role in the GSE survival. If I was a senator wanting to make a name for myself, I would introduce a bill releasing the GSEs. Why have none done so? They will survive. Why would a Jr. senator not want to capitalize on that? Plenty of bills to do the opposite...why not a bill to protect? Who stands to gain if the GSEs no longer exisit? What senators are taking kick backs from those companies? Corker? Warner? Yelp. Might as well put an add on Craigslist....will propose bills for kickbacks. For sale to the highest bidder. Democracy, its for sale, inquire within.
That logic is the same as victims of a drive by gang related shooting blaming the copper mine that sold the lead to create the bullet. Its non sense. Its easy to understand. Any person that has gone to college, gotten a JD in Law will understand it. At this point the Federal Governments argument is "hey we are the government and can do what we want".
Keep prospective.
The only thing that has changed is:
Earnings are due out soon
Loan is almost paid in full
Lawsuit imploding for the feds
Fnma showing profits higher than ever
Congress can't agree
Our time has come.
Im surprised that someone has not introduced a class action suit. Been waiting for that slip of mail to come.
Several other issues that have not been filed against the government.
Taxes- mortgage holders are paying more in taxes than others. (those that have mortgages through GSE)
Shareholders- Paying larger amount of taxes from the taking of profits.
Shareholder and Mortgage holders are getting a double whammy.
None of these taxes have passed Congress. FHFA does not have the authority to tax. Its a tax. What else could it be.
I want a settlement from the Government for violating my constitutional rights. 1/2 Trillion is the starting point on 1.2 billion shares outstanding. Anything less is a slap in the face.
Hope for current shareholders=Government screwed in court trial.
Short list of investors holding big amounts of capital. Respect them now or later.
No blame politics
Fall out with the American People could be an issue if voluntary released. Much better to let a judge do it, all the kings men in Washington remain blameless in November. Remember its all about public perception and keeping the pitch forks in the barn and not in the streets.
It would be the perfect weekend to release. Long weekend with MLK on monday...plenty of time to make changes and be ready to open for biz on tuesday. Wishful thinking.
Change in tone from the senators....payback gonna be in the headlines soon.
Media Manipulation.
I think the news release was meant to tank the price. Instead it had the opposite effect. Crooks.
Any action from Congress is Unconstitutional. The only thing legally (imo) is release and settle with shareholders for violating their rights. Anything other than that is Congress preparing the American people for something they told them was gonna happen in 2008 and is not gonna happen. They are powerless. Its in a Judge's hands. Now, if they can get enough votes to make an amendment to the Constitution, then yes they could do something about it. However, thats not gonna happen. How many articles have you read saying a congressman or senator has a plan to wind down? Their is 500+ of them and all have a different plan these days. Laughable that we give them any credit.
I welcome lower volume and less trading.
The fourth quarter and the payback of the original loan is soon approaching. It would be a good time politically to release and show a net profit for the Federal Government. Remember how they bragged about how much they made off of AIG. They will make a big deal out of it. Even though it came off the backs of shareholders. Currently, Shareholders are being unfairly taxed. Im sure rumors from the bench have gov officials scrambling for an opt out to get this lawsuit settled. Remember the largest courtroom is the living room of the American People. These politicians will be judged in November. They are more concerned about that than anything else. Just another day of trying to brainwash the masses. Cant wait for the discovery process. We may find that we have alot more lawsuits coming from other unknown acts that will be revealed during the discovery process. Lots of emails and transcriptions to go through. May get ugly for some folks.
Same vol when the OTC magically shutdown.
Tim is the real deal. He has spoken publicly about fnma and doing the right thing by the shareholders. You can google it...he gave an interview to a san francisco news paper. No telling how many shares he holds.
I think its funny financial times is reporting news that is the opposite of a another news source. Is ft a notable news source? Looks questionable. Also what is the motivation for releasing the same pr multiple times?
It will be difficult for Mel to do nothing after the GSEs are square with the tax payer. It will add fuel to the fire of the lawsuits. The timing of his tenure starting now is not by chance. Everything is by design and thought out. The situation is being managed.
Trolls are out in full force. FNMA is not a shortable stock. Every negative comment is designed to get you to sell. On the otherside of your sell is a buyer. They are bashing simply to separate you from an investment that has a limited share structure. Use the good common sense God gave you. Lower volumes...like today means shares are harder to get. That is why you have the on slot of bashers coming in. Names you have never heard of popping up randomly...taking the board as chumps. My two cents.
Hope all you want. Book value is 12.00 share even with diluted share structure. This stock is not shortable, so you must be making your best pitch for a lower entry. Dont get frustrated with those around you know more than you do. Self serving people get theirs...Karma is in play.
I feel they will do the same as when they took the GSE status from Sallie Mae. It will be reopened with a new ticker symbol. Shareholders will get a 1:1 share in the new company. They have already said as much on the new LLC that has been started between FNMA and FMCC. Its an easy way to make the public "think" they have done something. Its really about getting reelected at this point for the politicians.
Bear liver is used as a way to see into the after life by Indians. Im out on eating it. Ill take a Lobster with Alaskan crab legs and a glass of Johnny Walker Blue label with three ice cubes. If it hits 100 bucks ill smoke a cigar. But we may have to fly to Canada to have a Cuban. It will be my second trip on the cuban cigar trip so I can show you the ropes. Vegas to Buffalo...Via Niagara. Falls View, then a low burn Cuban over a single malt Whisky. Time is irrelevant for those with $.
Rarely does an event come along where one can invest and have life changing asset increases. This is a generational event. Those that studied the great depression will find that those that placed their investments in the right spots, made alot of money. I feel that FNMA meets the end point of a generational investment that will create wealth for those willing to take the risk of holding through the governments drama. No doubt you can read these boards and see that many feel the opposite. What motivates these posters, I do not know. One can theorize that maybe they had a home repossessed, or secretly want to buy the stock cheaper as to manipulate the PPS down with negative talk. Whatever the reason, remember you bought a stock because you seen something of value. This stock is unique in that it trades for pennies on the dollar of its real asset value. Barnie Frank referred to FNMA investors as "vultures". I differ with that point of view. I see FNMA investors as patriots. Those investing in a pillar of Americas financial independence. Its a joint venture between the shareholder and those starting out in life wanting to build a dream home or buy something that they could otherwise not afford without someone being willing to loan them the capital over half a lifetime. In a nutshell, the lender will always be the bad guy for those who can not pay their debts. The back ground noise will cease on the day of liberation of FNMA. The fact that the stock still trades is proof that they have no intentions of dismantling. The government has made some bad choices. Now they have to live with affects of those choices and they are trying to get out of this saving face.
Or it could go up another 1000%. Just like last year.
I agree...they have little time to change change directions before the courts force them too.
This is going to be the best year ever. Happy 2014...fnma
Wall St. Journal will not print this. However, I will say it. Berk is chasing a dream. He will under no circumstances ever be in control of FNMA or FMCC. Thats a fact. No way will the government allow these to companies to ever go private. It is a national security risk to allow them to be purchased and sold to China, Russia or any other country. Could you imagine another country holding 5 trillion dollars of our national resources? Not gonna happen. This is a game. The goal is to get a release and back to business as a GSE. 1.2 billion shares. If I were a country wanting to bring the US to its knees, I would buy it for pennies on the dollar and collapse our mortgage industry. Does not take a genius to realize that this is to big to dissolve. Merry Christmas. To big to privatize.
Its tough holding a stock that has ran up 1000% over a years period. Some have done that here. You can go back through my history and see where I took my first position in the first quarter of the year. Anyhow, your right about where else are you going to park your money? I would say that it is just as likely to keep going up. I remember when Sallie Mae was released. You will get no warning. It will happen after hours and those out will be missing a huge gap up. The government responded to the complaint filed in court. They would have ignored it if they felt they could. That in itself tells me that they know there is a good chance of loosing this in the court system. I honestly dont think the Government and administration wants yet another folly pinned on their legacy. If you really want to let your imagination roll...think about what the punitive damages the shareholders could receive based on a Constitutional violation of rights. That would make a JP Morgan settlement of 10 B look like pocket change. If you own the shares, you own any damages and rights to those damages. I honestly dont think most (speaking for myself) would be happy with just a release of shares back to the shareholder. I feel we are due a settlement of punitive damages from the FHFA and the Treasury. If I was throwing out a number... I would say around 100-200 billion in lost revenue and opportunity cost just on five years of the wrongful taking. You could easily double that in a punitive phase for settlement. What does that work out to on 1.2 billion shares outstanding? The Government knows alot is riding on this lawsuit. I expect them to come hat in hand soon wanting to settle this and move on.
Anyone want to take bets on how long the OTC market will be closed when 4th quarter profits are released? OTC is magical.
Some excuses they could use:
Squirrel in the server room
18 wheeler ran through the substation cutting power
The IT guys wife had their first child
Accounts payable missed a payment to city power and light
Please bear with us as we move to our bigger more fancy facility
hot water heater malfunction
Screw it, we pulled the plug cause they told us to. Get over it.
Feel free to add your own excuse why the OTC market will be down on earnings day. Merry Christmas.
FNMA + Roth IRA account = a wonderful thing. Tax free. Get educated.
Up 900% ytd. Red is really uncommon. Thanks for pointing it out. Your input is highly respected by me.
I interviewed him on a radio show several years ago. He is a good guy and done well for himself. Alot of folks here are saying zig when they are zagging. At least he gave up his game plan. Got to show him a little respect for that. I have spoke to him several times since. He is a good dude. Dont hate him for being successful.
Tim made alot of money shorting pharm stocks prior to FDA decisions. Usually FDA does not approve. The stock dives. Simple.
Mel Watt wants to keep mortgages affordable for everyone. Ending the GSEs would kill the American Dream. It would be equal to privatizing social security. FNMA is going no where. Getting Mel in place was the biggest win for Fannie we have seen in over year. All the pieces are falling into place. Sit back, eat some popcorn and enjoy the show.
If you owned as much shares as the hedge funds, would you sell some hard to move the price down? Only to buy back at a lower price. The game is to get you out. They have a base of 1.60. Anything between current PPS and that is free game. I think they call that a Market Maker.
The float getting less...its not retail holding, its berk and the other funds stubbornly holding. As more come in...and they will. Expect lower volume on higher highs. Thats the pattern of a rocket ship.
Having tough time remembering. When Berk made offer, did the FHFA release the news or did Berk? Last question. If FHFA was made another offer, are they obligated to make it public?