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Average Joe's are quick to understand greed of poiticians.
That would be quite sneaky, start selling shares now when no one is paying attention. Fannie Mae could quickly raise a few Billion dollars in new $FNMA shares before the Average Joe Lemmings caught on (they're slow after all).
No wonder with all this volume, $FNMA is having a hard time going up.
That's just what Pagliara would say.
3.20 has been resistance for some time now. We should soar once we officially break through. Again, more shares being bought above 3. This is very healthy and encouraging.......
Next stop $4
What station is Calabria talking?
Possibly the new preferred series would have cumulative dividends, unlike the existing JPS today which are non-cum. FnF do not have to pay existing Preferred holders back dividends.
Why would FNMAS, FMCKJ and FNMAT holders, for example, which make up about 1/2 of all outstanding JPS series, agree to convert to a JPS series at a lower coupon?
Instead of a preferred share to a common share conversion, maybe it's a conversion of existing preferred share to new preferred share, non-cum.
Quote:
Leaving existing JPS prevents the issuance of new ones.
Exactly. $33B is a good amount to have on the balance sheet, but if FnF start getting much above that then the common share price would go lower anyway due to the dividend and liquidation preference on the prefs (yes, liquidation preference matters even for healthy companies, let alone ones that can be taken over at the drop of a hat).
A junior-to-common conversion followed by an issuance of another $33B or so in new juniors lets FnF reset the junior pref interest rate, and it fits what we're hearing about the recap not being all from one big offering.
Then JPM took over from Bank of New York Mellon.
That's on page 2 of Wu's claim docket 59614
Bank of New York Mellon filed a claim on behalf of CT holders.
Otherwise we would live like Europe.
at LEAST GASPARINO is SAYING on TV without Fannie and Freddie
We WOULD NOT HAVE a 30-yr FIXED MORTGAGE !!!
Gas on now.
Trading looks frozen.
Mms signaling they need shares
Fmcc out of Cship first?
But it's okay to hang out on an ihub common board for a company that is in conservatorship.
I’m not a quick buck artist or trader. I also have a rule not to buy OTC common stock of companies in government conservatorship. Plenty of other ways to make money besides associating with common shareholder vermin lurking at the bottom of the capital structure. Eww.
https://gselinks.com/ This is not the en banc one.
We're holding $3 well
For all we know Freddie could have been buying back their stock already and intend to sell upon uplist.
We're all watching the stable price climb.
Did anyone notice the amazing price stability today, besides me?
It went fairly gradually up, then leveled off with few, if any "wide price fluctuations" except the the 3.27 high abnormality.
I think I know "why". Its one of 2 reasons:
1. Many retail investors saw the news and bought.
2. Big buck institutions moved in, and kept the price stable.
Either of these are great for shareholders. ..Not so good for "day traders"...
Thanks for keeping track of the days for 5th circuit ruling
FMCC rip past $3 this morning.
This is what caused the c share surge.
Quoting MarkCalabria today Video Link:
https://www.cnbc.com/video/2019/05/20/fhfa-chief-wont-wait-for-congress-to-take-frannie-and-freddie-public.html?&qsearchterm=Calabria
Quote:
"to build Capital you need to be able to end the sweeps so they can retain EARNINGS ... that's Start #1 "
"Craig (Phillips) is gonna stay until the report is done "
Diana Olnik - What would it mean to current Shareholders holding shares
worth about $2.50 now ? If you do a PUBLIC OFFERING ...
"if your a common shareholder common shares will trade again -they're still
trading today ... they were NEVER WIPED OUT .." ....
"the existing shares will continue to TRADE"
Diana Olnik : What can you do without Congress ?
"If I can End the SWEEP ... we can GET THEM OUT of Conservatorship" ....
Combined volume 20 million today
That would be my guess.
LOL I expect GSE GREEN dominates for the rest of the year.
lol ... I expect GSE GREEN the ENTIRE WEEK !
MC has said the nws is illegal. MC Should stop it now. Dont wait for an en banc ruling to do the job.
100 miles an hour ? -
it's BEEN 11 Friggin YEARS !
When you get to a STOP SIGN ! Yes !
it's PAST TIME to SLAM ON THE BRAKES ! STOP THE SWIPE NOW !!!
Good observation.
Why regular short Vol of FNMA crashed but FNMAS shoot up?
Look at that Finra website for regular short volume of FNMA and FNMAS on various dates.
Dates-- FNMA-- FNMAS
4/30-- 1.569M-- 5.772M
4/15-- 4.543M-- 4.706M
3/29-- 6.096M-- 4.268M
12/31-- 2.978M-- 0.960M
Same is true for FMCC.
Regular short volume of FNMA and FNMAS are telling something.
Naked short is different than regular short.
Naked short volume is tools for MM to control PPS
That clarifies the sequence.
That would be me. The NYSE and Nasdaq have very strict requirements when it comes to listing. You have to be a top notch company in order to get listed. Financials must be audited and the company in good standing order. Any company currently in receivership or conservatorship need not apply.
Thx. Passed it on.
I missed Trump on cnbc but it must have been favorable.
Please provide the link describing what Phillips has come under fire for. Thank you.
Quote:
"Craig Phillips, a former BlackRock Inc. executive who was a big fundraiser for Hillary Clinton’s presidential bid, has recently come under fire. "
Interesting, How did Trump and GOP allow this.
How did SM go for such people? Are not there good GOP/Trump supporter who can not do this job.
Exactly
Treasury plan due June 4.
CSP launch June 3.
Interesting.
Freddie gaining on Fannie
Best Post Award
I think this "I hope that the 5th Circuit will see the abusive nature of this Conservatorship and halt the NWS" needs to be restated as...
"I hope that the 5th Circuit will PUNISH the abusive nature of this Conservatorship and halt the NWS."
No matter how blind, anyone can see it. It's just a matter of someone acting on it to punish those responsible.
What started the upward trend?
Preferred shares will not be converted to common shares.
Preferred shares have a chance to be cancelled transitioning to a new company via ipo next year. Debt is not transferrable. Equity is transferrable.
He is saying they exit cship later this year.
Bethany McLean should start tweeting about her meeting with Calabria 2:00ish.
The message is getting out there.
Here you go:
https://projects.propublica.org/bailout/list/index
Nonsense that TBTF banks are allowed to buy back warrants without a link showing proof.
The warrants exist because of an agreement between FHFA (on behalf of FnF) and Treasury. It can be cancelled before expiration date by both parties signing a new agreement.
TBTF banks were allowed to buy back their warrants.
Not rocket science.