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Thanks Guido. Sounds like clank, clank, clang, clang....
It would seem congress set up the whole HERA law with legalized blackmail in mind, and the courts, so far, approve. Maybe they had help from the courts when constructing that law?
Wow. I'm following along that same train of thought. Bush wanted it between a Dem and Libertarian type setup, I think, but long ways from what Republicans wanted. Then Obama wanted fully Dem or even more right radicalized free give away like what Biden is doing, but he got pissed with no help from Congress.
The courts are worse than the government in this for not being the check and balance that we expect. Maybe it's time we change the constitution, amend it so that anytime a SCOTUS judge needs to be replaced, we have a special election? No more political appointments.
No administration seems to want to take charge and do anything because the dirt each successive administration that gets elected is used to blackmail. Lije all the talk about presidential privelege docs for each different administration. So nothing gets done. Courtscop to spineless, rhetorical scrambled logic inkicking the can.
It stinks to high heavens of a conspiracy.
Exactly! Platitudes from the courts. Money talks, bullshyt walks.
Yeah I agree. I wish there were more like Epstein, a true and honest litigation professional.
Who knows what backdoor deals are going on. That's why I hate class action suits. Lawyers in class action suits, in my opinion, get bought by the defendant to screw the key plantifs and the class.
Big companies have done this in the past, especially pharmaceutical places.
I fully agree on that. Housing inflation is a reckoning waiting to happen.
Lol, I was close! I said 10 years based on that stooopid cap
requirement.
These guys are trying to say government is just gonna sit back and TAKE the ownership of the GSE'S by renting them via a bogus un-needed backstop loan which keeps taking equity pieces of tge company but never gets paid off.
Like they are doing a long term take over of a private company by holding financially hostage via a loan that never goes down, only up over time. Yup banana republic for sure.
Ding, ding, ding, ding! We have a winner ladies and gentlemen.
I did see a camera shot of Max Waters during the speech....scared the living crap outta me! Honest injun. She looked like walking death. I could never be that imaginative in creating a face like that.
I hope midterms clears out ALL the 70 something, 80 something crowd of lifers.
Well, SCOTUS said FHFA could do what it wants to protect itself and taxpayers....the question a good lawyer would put to a judge is : how does giving 1 billion dollars to a selective group protect FHFA or ALL taxpayers? Then follow on by saying how does giving away 1 biliion preserve and conserve the GSE'S?
The FHFA/government needs to be attacked for the bastardization of this conservatorship like this 1 billion give away which has absolutely nothing to do with FHFA financing of its running, protection of ALL taxpayers, not a small group, especially since it is money being placed by an appointed official and not appropriated by congress and approved by the Senate, which are the groups ALL taxpayers vote into office to control the countries purse strings.
FHFA needs to prove either how this supports ALL taxpayers, how it preserves and conserves the GSE'S and/or how it saves the FHFA from failing it's job as conservator.
I wanna see a lawyer nut up and throw that down in court!
For those who thought Brandon might refer to the GSE's....the closest he came was an "affordable housing" comment. While discussing his economic plan. Lol
There was no way he was going to be allowed to mention this by name. The GSE's are taboo talk in DC, we are the redheaded bass-terd stepchild. Thompson is the Lackey.
It's funny that Brandon complained about not having his Fed appointments approved during the speech, but was mum on Thompson.
Lol. Sad shameful fact of the matter.
Kudos Navy. Slap'em with the facts. How do you justify a conservatorship when the motto is free give aways? Only in this banana republic.
Thanks for the post on that info! Calhoun at the end there points out the political football turn over. Lol he is correct in assuming that, so he specifies earlier on about moving those goal posts but trying to anchor them. Basically try to follow a different path on housing fairness using the same tactics the past Trump admin used.
Every administration, if you notice, puts in place a good game talk, but all fall flat over their tenure of this shytfest. That's because none admit to the facts. You can only give so much away before you start destroying markets because no one can foresee moral hazard that will cause the next 2008 massive home walk away and leaving the keys at the bank.
I see many in the current college loan forgiveness group doing things just like that, walking away from a new car they trash out or house because they got away with 10's of thousands of forgiveness using taxpayer money to party or take a useless degree. The only people who should get loan forgiveness are those physically handicapped at a certain level or maybe those medical professionals who withstood a ton of covid service while it was going on. Idiots who made bad choices, absolutely zero forgiveness.
This all goes for housing as well. I think handicapped, mental or physical, yes help but would you want to fund a 300k mortgage with your tax dollars for a married couple who both walked via forgiveness from a combined 150k in student debt? I wouldn't.
Biden nor anyone in the administration will saying anything about GSE's IMHO. If anyone did, he would be opened up to a host of questions from the business news and media, and even more harsh criticism from the other side of the aisle, since, as you say, he needs a win, and the reason he has none significant is because of his magic touch that Obama warned us about. So, if they do anything, it will be through their FHFA lackey Thompson. She'll be made to take the heat, Biden will be kept out of it by his handlers/Admin, who will most likely be the ones instructing ST. Biden is one of those who probably thinks these are chocolate companies...
My first 30 FNMA shares were bought when it was starting to drop in 2008. I watched it for weeks, slide from 70ish, bought those 30 at about $30/share. Now 115k shares at various prices. Its been an exercise in humiliation but also determination in my beliefs.
Yes, this exactly part of it. How many here are having nightmares that half that jury selected will be asking the judge why the governments fighting a chocolate maker? Lol
I am optimistic to a point, but when you involve the current public and our major portion of our dumb down society, it's the whole box of chocolates analogy: you don't know what you're gonna get.
My sentiments also. If justice prevails, we all have made wise investments. Maybe not "too the moon" investments, but good investments, if fairness is king.
I truly hope that is the case navy, and we get a win., but I believe jury trials of this type nature are guided more by the judges interpretations and guidance to a jury on current law and precedent (like the bullshyt SCOTUS government can do no wrong opinion). For this reason and also for the reason that this jury will have difficulty in understanding the full depth of what really happened, from the beginning. Will Lamberth even let plantif lawyers address those beginning problems and nefarious crap government pulled? I'd rather have accountants, business people, those with business backgrounds or finance acumen on the jury, and not necessarily average joe's who know nothing about this crapfest, and care even less about it because many are too challenged to understand this.
Average Joe's have been too easily influenced by a government that has gone off the tracks, most those average Joe's are blind. Look at who they put in charge of this country and where it now stands....
You have to hope like hell that plantifs lawyers pull a rabbit out of their ass for the twins. We have a few advantages, like the Trump letter, so hopefully they hammer that and all that it states.
My avg on FMCC much lower than my FNMA. sadly.
FMCC Approx. $1.00 since I started buying it last year.
FNMA Approx. $2.25/2.35 (close to Ackmans avg) since I've been buying for years since before 2008.
I am buy and hold...maybe I should have traded along the way? Hind sight is always 20/20 and all that
So now back to conversion BEFORE Lamberth? You see the writing on the wall in Lamberth's court now that those last suits were dismissed? Lamberth will instruct any jury about SCOTUS ruling and then the definition of noncummulative, kiss those contract claims good bye.
But now jump back on that conversion wagon before anything is even done! Lol
Okay, whatever you say....if you want to keep believing the governments soul purpose in this is only to make JPS rich, you are byond any logical reasonings.
It's very possible for government to release this without doing one thing for current JPS or commons, but who will move higher, faster.
Nice! Thanks for the fantastic DD. I am always amazed at guys like you, Chessmaster, Guido, Robert and many others that dig, dig and dig up good information. Much appreciated
If you ever needed proof that the globalist banks and elites control everything, here it is! They can affect wars directly and indirectly, more than anything else.
Part of the same banking cartel here holding the GSE'S hostage.
https://www.yahoo.com/news/nations-pledge-remove-selected-russian-222929003.html
Yes, exactly. Political football. Each new team moves the goal posts, install new grass, make new rules for game play, but never get to the point of hiking the ball for the first play! It's a joke and a sad testament to our government and courts.
Excellent post!
Just saw that first time yesterday! I wish it were that simple.
First, it's a capital (equity) BUILD, not restructure. Government is not going to use their stake in this to enrich any small group, not if they want a strong housing market.
Second, who has WAY more experience running a GSE and approaching the market for capital raises, Tim Howard? Or Glenn Bradford?
What happened to conversion of JPS? Can't believe you forgot to mention that! Lol
Question for you....what's the thesis when Lamberth shoots down the case in his court? (SCOTUS, government can do whatever it wants)
Who are the idiots investing in this credit risk? Or are they savvy? A risk like that credit risk transfer....if I were an investor in it, I'd want 6-8% return, or more.
You need to account for the current disaster of an administration. And 3 years to go. Inflation all over including housing. Mortgage rates going up and will be going up more due to fed i creases. Current admin is already talking increased taxes to fund this Ukraine mess. Add that and all the inflation equals not going to be good at all housing market, next few years, which means much lower earnings, of which, this administration wants to use to socialize hone ownership. So 10 years more of conservatorship with this new cap rule.
I see very little positives, except possibly midterms.
They'll be changing this. Unless they intend on keeping the twins in conservatorship another 10 years. That capital is not realistic to raise. They'd need to screw everyone, including themselves, and even still, no one would want to jump in to another potential conservatorship takeover. What guarantee can they give any shareholder that once the twins have 319 billion, they won't try another fraud to scarf up the money to bail out banks again? They can't. They will be salivating once the GSE's reach that 319B and will find a way to steal it, just like this time.
It would be interesting to see what the big money guys like Ackman are doing on this, since some are also part of litigations not involved in this one.
Exactly. Usually they send you a flyer asking you to either opt in or opt out. Not automatic. This stinks to high heavens in my opinion. Warnings about signing your rights away and then also saying that any legal recourse may have limitation due to the statute of limitations.
Yup, saw that. By April 23rd. There's a site and email listed for opting out. I'll bookmark that and do so about as close to the deadline as feasible. Who knows what changes between now and that April deadline? So keeping the options open as things develope.
Almost every Class actions are a losing joke. This one is a huge losing joke. They want you to commit and sign over your rights to do anything in the future legally, without providing any monetary damages information and how that gets distributed because they have no idea yet on how this will be ruled. The lawyers and the key plantifs will reap the best reward. The class will get shafted, as all class actions work.
I have FMCC but will not be part of this class of fools.
I guess the kangaroo courts were not told about capital structure by GB....
SCOTUS ruling government can do whatever they want was a sad moment for justice in our country.
As I said before, we'll all be lucky to be as we werre before the takeover. The shyt handed, corrupt government will look out for themselves. We can only hope midterms brings more fair minded folks to the table and hopefully the corrupt ones lose and are gone.
Wow! Fantastic article. Sticky, sticky, sticky.
This is how the whole conservatorship should have been attacked by the big money crowd and all the other fringe cases.
Who was it that used to say that all the time? Start at the beginning and all the other Dominos fall.
https://seekingalpha.com/amp/article/4489008-trudeau-closed-bitcoin-argument
Shows you how much power people have ceeded to the elitist political class. Good article. Beware if you're invested in coins!
There's always the possibility of Trump or maybe someone else with a conscience releasing a bomb that will make the courts decisions look like a bunch of donkey braying, which it is. Let the truth come out!
Took the words out of my mouth. Same view here.
That could very well be, due to the pennies on the dollar class action bs.