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That's all well and fine, and appreciate all of your unbiased posts FOFreddie, but I have zero confidence in this administration. Ineptitude has been their MO for over a year now. No admin has been 100% help for us due to the fact that we are the biggest political football in DC, and I expect the courts will need to grow a pair and start ruling with the proper interpretation of words and sentences in regards to current HERA law and it's constitutional over reach.
This is looked at piece meal by the courts as to different legal claims, and their talk of nationalization is actually ok if you look at history. Courts have backed governments nationalization of other companies in the past for various reasons, but this, from the beginning was an outright unlawful escape goat theft setup for the big banks who are the real culprits. Until DC gets a dose of honesty about this whole cluster-fuk fiasco, we will be nothing but the political football piggy bank. JMHO
Wow, we are so screwed, for now. Sounds like the head rodeo clown of the current mess.
Burden my azz, last I looked on my pay stub, me and my company pay into social security and medicare. Yet there are many who are given it free, like illegals.
Current administration has made everyone, everyone poorer. Let's hear the defense from ya. It's not DJT policies driving the country into a hole now.
It's called musical (chair) judges and pin the tail on the court case. No longer about justice. This is a court and government inside joke.
Great. Thanks.
See GB if you want to be rich by then....I think.....maybe......aaa possibly. Lol
Fantastic! Appreciate the diligence Guido2
I hope the Senate gets that tweet. Could careless if congress or the current administration does
Everyone has been saying it can't get any worse, but it has.
That would be for the current administration and this conservatorship. Lol sad
That's too bad.
Midterms fast approaching. DC talk is already turning to that. Current Admin has it's hands over loaded with : a take over that could turn into a major war, record inflation that is getting only worse due to seeking out energy from our enemies, appointments for different cabinet and DC positions on hold, repicked or shot down by their own party due to radicalism, a radical wing trying to cause pain for the current admin, a world who no longer trusts USA leadership, a serve shortage of windmills and solar that can run 100's of millions of cars, trucks, planes, trains and huge container cargo ships as well as farm and construction equipment,also a military that runs majorly on diesel, gas and jet fuel. Then there's the covid mandates ever changing, based on conjecture. Etc.
So yeah, They got time for this, to do it right, like everything else they've managed to screw up royal. Everyone on board for a release by these bozos? Lol
I can't say it enough....MIDTERMS and then 2024. Closest we'll get to the promised land if we have a plan and scream loud enough to the right people running.
I think the Trump admin went with the prediction that they were going to be ousted, so their game plan changed during the election cycle from saving to locking away the GSE's. To make it harder on this administration. Same game will be played just prior to 2024, I predict.
You fail to see that congress wrote a law giving government every bullet they need to shoot this down. How many times does that SCOTUS ruling need to be mentioned before the realization sets in that you (prefs, I assume?) And I (commons) have zero, absolutely no contract rights. Hera and the conservatorship law supersedes and is above those other rights. Government currently in charge loves taking away rights, so don't count any chickens until a court with iron gonads gives us a win. That's all I'm saying
If you want to believe you are in some favored position in this pot of shit, go ahead. Been here 14 years and neither share class has matter for zip. We move with the news, period, and that is what it will end up being.
Can anyone explain to me and show proof, where or how the FHFA/Treasury/government and or the GSE's and courts are totally focused on nothing but JPS/fulcrum capital structure/conversion/dividend turn on/restructure that will make a small group rich or whole, at the expense of everything else? Like the companies futures and financial strength? The governments pocket?
Would love to see some quotes from anyone in FHFA, Treasury or current GSE BOD's that verify these various theories, or actual court orders by a judge demanding the aforementioned group in government to do these things. Anyone got this info? Anyone?
Here's a lesson on GSE Con-servatorship capital structure:
Not the same as you would think with conservatorship free companies
Government #1
Bogus back stop of...
SPSPA
Warrants
* and whatever else they want to steal because the law and courts say so....so far
GSE's #2
Capital built
The ability to change capital structure as needed to build enough capital. This will be heavily inlfluenced by a BOD who is hand picked by government, also possibly by common shareholders if released and rights restored.
BTW! JPS GET NO DIVIDEND TURN ON UNLESS COMMONS DO, FOR THESE TO HAPPEN, RIGHTS WOULD NEED TO BE RESTORED, SUCH AS VOTING.
Shareholders #3
Commons and prefs
If you understand this, then you realize everyone in #3 is in the same boat, regardless of what others may be (mis) directing. This is the capital structure that's been in place for years now. Clear as day.
Also not mentioned by him is just who, out of all the courts, is going to mucky, muck around in determining how this conservatorship settles. That's why a few have mentioned government and plantiffs settling. Figuring out this financial rock and a hard place mess is beyond any single judges pay grade, professionals would need to be brought in. The judges are only going to try to force the government to do what they can. I doubt that means any court will force a conversion, a dilution, 110% of par for prefs, or anything else that may hurt the companies chances of becoming stable. Prefs dream of an over favorable outcome, but the reality is it will play out as it plays out, giving only to the companies and their stability. That will drive ALL share prices.
It's called flavor of the day! Easiest way to be right is to be like a pasta noodle chef, you keep throwing noodles at the wall until one sticks, but by then you got half or more of your dinner on the floor, which no one wants to eat.
If part of the goverments plan is for the companies to buy jps shares, accumulate, then after aquiring a voting majority, it says the companies can terminate at anytime any class of pref by offering a buyout. It does not say that absolute par has to be offered, only a price which JPS can vote either yes or no to liquidate. Fairly easy to understand if companies own the most shares they own the vote and can set a price at whatever they want. This can all be accomplished behind the government curtain of doing whatever they need to for FHFA, taxpayer and the companies.
There is a BOD right now, who is most likely 100% government controlled, but the courts would be blind to this fact with all the BOD appointments over 14 years and the canning of the original BOD. Ask yourself, Why did they can the original BOD? Easy peasy, they wanted full control of the companies. So they can wear their government Treasury hat, FHFA hat, GSE company hat, etc. They have the courts convinced they step in and out of these different shoes to do only what's needed....like NWS! Yeah, right.
So It's very conceivable that they could coordinate the companies buying up prefs, to undercut their worth, so they can get rid of some or all. Name one company not allowed to buy back shares. Just because we are in conservatorship does not mean the GSE's can not buy back shares. Of course the government can't, but you fail to recognize government is playing this game by assuming multiple identities. If government made the GSE's buy back prefs, who you going sue? And for what?
The lawyers of all cases should be suing to have this conservatorship put under a judge's or multiple judge's discretion and not the government. FHFA IS the government. Courts letting the government wear all the dam hats! The government hat, the taxpayer hat, conservator hat and companies hat is pure bullshit. We all know that. The courts think that the government wears all these hat's just fine, but the truth is they wear a few really crooked to suit their own intended result, regardless of the constitution and common sense business law and practice. Other conservatorships end up with judges overseeing, so why not this?
Who exactly is protecting shareholders of record intrests? Answer: absolutely no one, sadly.
I said COMPANIES. As in BOD. the government controls the BOD, so they can do as they please while hiding behind "being in the shoes of the companies". The govetnment, via the courts are allowed to wear too many hats, so look for them doing just that. Hera protects and the courts accept this.
If you ignore this fact about government being able to jump back and forth, then I can't help ya. It is a fact since SCOTUS! Hence, government can do whatever the hell they want. Keep changing hats at will to screw whoever.
How do you force JPS (read hedge funds) into taking a haircut of around 50% or less of par? You have the companies buy up pref shares, and then put up a low ball par offering, once you have a good majority of those prefs shares, so you can skew the vote. Wa-La! Lots of debt off the books, pref shares disappear, and new prefs are offered (alot) at lower dividend. Just speculating like GB.
Government can do WHATEVER THEY WANT! Remember this, it will help you invest for the unpredictable.
There's ALWAYS more than one way to skin a cat! Don't be fooled by those who think they have the cat skinning market cornered. Lol
SCOTUS: government can do whatever they want. Prove this wrong!
When in doubt, government can modify and change any amendment to suit their need or the courts, prove this wrong!
Also, I've not seen or heard nothing in Hera or the conservatorship that says the government can't instruct or force their BOD lackey's to make a strategic purchase of commons or prefs. It would be a good way to indirectly reducing any settlement or court win. Companies do stock buy backs all the time, so why not the GSE's? If they took 2-3 billion...that would buy a heck of alot of prefs or commons. Maybe that's how the government self deals itself more shares? Just speculating.
Strange that chunks are being bought and no news on it out there, like Buffet or Elon Musk dropping pocket change.
SCOTUS: the government can do whatever their sweet little hearts desire.
Sorry for not paraphrasing exact
Who's buying chunks of pref's? Whales or the companies Themselves?
It would be very smart for the companies to buy back their pref's at these prices if the government is orchestrating that...they can whittle down the count or hold a majority to control any settlement offer.
Hope that malitia starts growing. There's two ways for people to get their government control back in this country. One is with military backing a group of pissed off peopleand politicians, the other is the malitia, also known as the peoples army.
Pot, kettle moment. Lol
https://www.yahoo.com/news/white-house-warns-russia-against-053739008.html
For those who love being ruled by executive order opposed to our constitution. A report card! And its gonna get worse for 2.5 more years.
https://www.foxbusiness.com/economy/consumer-price-index-inflation-february-2022.amp
Yeah, dumpster fire, which I think doesn't even get a squirt gun applied to it until midterms. The government in charge loves to micro manage to the max, hence all the FHFA announcements attached to spending our needed capital on hand outs.
You could argue Trump was following the presidence which was in place at the time pertaining to Watt. He most likely had legal council advising him on this, and probably felt challenging Watt's job to replace him was useless since Watt would be out due to his term limit before a case could make it through the courts to replace him. Look at all the molasses and mud type movement we've had on this (cases) with every court dragging their azz! It's beyond obvious to everyone involved that this is being controlled by a group. This last ruling to remand to the lower courts was yet another testament to the judiciary's obvious stonewalling. Taking all that time for a lousy 1 page remand. I know the decision had 5 pages, but 4 of them were useless spec'ing and drivel. Every time any case gets bumped for any reason, the judicial system is sitting on it like hatching an egg, rediculous.
Sweeney was one of the worst who managed to extend the case she was over seeing for years and years, to the point where she is almost retired. The media and pundits spun it as her giving government every oportunity to be fair to them, but she was helping them construct the current fiasco as we know it.
If that letter is ignored by the courts, I feel that by midterms it may be pushed and used by the new majority, if in fact Republicans flip both houses. And...I think that letter will have even more ramifications and use if 2024 has a republican administration. Doesn't necessarily mean Trump has to be that Republican. Anyone who is being scoped by media outlets now could use that letter like Desantis, J. Jordan, or Iowa governor Kim Reynolds, etc
There are many who would make great leaders president, but all have much in common with Trump
It is. No argument from me. The corruption is rampant. That SCOTUS ruling that the government FHFA can do whatever it wants pretty much shot to hell any faith I had in courts.
This has been approached wrong also though. We need a group, backed up also by a larger investor possibly, to file a suit that challenges the beginning. Challenges the whole 3 to 6 months of fraud to put the GSE'S into conservatorship. That is where the REAL illegal taking of property took place and the gigantic fraud against the shareholders as they threatened the BOD's.
I don't see why shareholders can not sue the government for the fraud perpetrated on the companies by the government.
Nationalization was mentioned like 7 times by SCOTUS during Collins deliberations by (I think) 2-3 justices. See Gorsuch's dissenting opinion also
Oh my God, now back to conversion! Show me where treasury, FHFA or a court is guarnteeing a conversion? Giddy up
Here's a hint, it says in that same flyer prospectus that only the companies can offer a conversion of pref's. And you believe like GB, that with billions of capital lacking they'll offer to convert you at 110% of par with the governments blessing? That is one step past dreaming.
RV = Relative Value? Real Value?
Yes, i agree.
I bet none or most of the JPS holders have actually read the sales flyer (prospectus) from the companies. It says right near the top noncummulative and specs those par values. They think if original pref shares were sold at $25 then 25 is par! Yet look at the prices. Their logic is they can buy at current prices, BUT must be made whole at whatever the original offer price was ie $25, $50, $100, etc. They demand this par value from the government, which is even a bigger lift. Lol
If it's a restructuring why are not all the prefs at par? No case says anything about guaranteeing par. The government and courts says jack squat about shareholders other than they currently have value. Some folks need to smell the coffee.
But do you think those shares will be sold for .10 cents like Bradford claims?
I think before any dillution, they drive the price up...high. it doesn't make sense to have billions of shares outstanding forbpennies if government greed is involved. Same type of sense says governments not hoing to give JPS the time of day because...THIS IS NOT A BANKRUPTCY. The JPS will realize any gains based on whatever happens, just like commons.
You do realize when you Google either GSE restructuring, or Fannie or Freddie restructuring the only thing that comes up are Seeking Alpha articles, most by you! Geeeeeez I wonder why?
The government articles and others say REFORM or RE-CAP. Could it be possible everyone else is wrong but you?
The people inside this administration want EVERYTHING done ASAP. Probably why we are in the mess we're in, don't ya think?
Everything they've pushed on energy, Afghanistan, defunding the police, covid mandates, BBB, etc has blown up in their face and gone opposite. I could care less if this administration does zero on GSE release.
Corker is major jack-azz criminal. Read about his real estate activities while in Congress. The guy is crooked as they come in DC