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All hail - the all seeing one has spoken.
Is it expected that mandamus writ in fairholme be ruled upon first before the Perry appeal? Or is such an expectation unwarranted?
Joe Light works for bloomberg.... and that's all i'll say about that.
Lol so crazy!
This does not relate to the post I replied to but a new question.
Preferred's are non-cumulative so any dividends that were not paid in the past cannot be paid in the future. Dividends were paid to senior pref stock (treasury), so technically dividends were paid - just not to the jr pref stock. If the courts rule in favour of plaintiffs (and reverse NWS) could the period where treasury collected 100% of dividends be considered as dividends being paid (just to the wrong parties) and then the jr pref receive the dividends from the period where treasury took it all? I imagine it wouldn't be 100% of the income but enough to pay off the quarterly amount to the jr pref. and then keep the remaining.
I've read a lot about how the preferreds dividends are non-cumulative and since they were paid nothing in the past they will get nothing in the future based off those old dividends. What I don't understand is that dividends were paid, so the preferreds should get prior dividends if ruled upon.
Above is assuming a settlement between... say Fairholme and the gov't.
Great day for the great obit!
Why do you think $3 is only a short term level of support? I'd argue its much stronger than $2.85 looking at the history around $3. $3 also has that psychological number played in as well.
Agreed.
Thanks Obit.
who would get a say in how it is structured? Board of Directors, common shareholders (since they have voting rights), pref. holders? What type of restructure would be legal? Conversion of fixed pref. to a lower yield?
I.e. Common shareholders, pref shareholders, the board of directors, FHFA?
And who would vote to allow such a restructuring?
Any type of restructuring that is legal.
Can the preferred shares of the GSEs be restructured? Or because it is treated as debt it cannot be restructured?
OH noes :(
That's how fucking corrupt Clinton is and it shows how much she is connected to the big banks. Think about it, Trump is a business man, his goal is to make America economically better, it's his number one goal actually. Lower taxes, bring in business, build factories, etc. Why would futures crash if this was a candidates number one goal? Why? Because the big banks bet on Clinton, they put huge money towards her, she is controlled. Who's trading futures right now? Traders at banks working around the clock.
Greenberg’s Starr Returns to Court Seeking Damages Over AIG Bailout
http://www.insurancejournal.com/news/national/2016/11/07/431674.htm
Testing highs again would not be unusual given a rate hike in december
They only show as "sells" because they were below the current price at the time of trade. They went through at 3.9 and 3.86 but current price at the time was 4.02-4.04
huge volume in FNMAT today 28 million shares traded today. 109 million $ traded, wow.
415 pennies
It's too difficult to project what would happen under any investor lawsuit prevailing, they were asked to find a present value of the cost, so they took the present day as it's assumptions.
Mind if I ask what the limit on your time frame is?
I don't believe that could happen because dividends were paid, so they weren't omitted => they must follow the payout structure. Non-cumulative doesn't include past omitted dividends, the GSEs paid 100% dividends to treasury, so they prior dividends were not omitted, they were simply paid all to one holder.
Non cumulative only means prior dividends that were omitted don't have a tier payment system where preferred get paid before commons. The dividends for the GSEs were not omitted, instead they were misappropriated all to treasury. Going forward if dividends were reinstated for all shareholders, preferred would be paid before common.
Hi Obit, what is an en banc hearing? Importance of it? When it is typically had? Is it common?
What would be easier to explain to a client, that you are a preferred shareholder and you have a contract that states what you should have been given and are to put an actual dollar figure on what its worth, or to try and explain a speculative investment in the commons where there is no true dollar figure that can be put on that investment. This way he's not promising more than he can deliver by over-estimating the commons.
It is a safer bet (with less upside), however it's a safer bet that can be easily communicated with clients.
Note: I hold both common and pref. shares.
are you watching?
Onto the financial hearing tmrw, fun times ahead.
Why would Sweeney enter an order asking defendants why they should not should pay plaintiff's fees at this point in time? Seem strange to you?
motion to compel ordered by sweeney
Rep. Maxine Waters has typically been pro GSE shareholder or anti GSE shareholder?
Has Maxine Waters typically been pro GSE shareholder?
This will be exciting to hear.
Subcommittee on Capital Markets and Government
Sponsored Enterprises Hearing Entitled “Corporate Governance: Fostering a
System that Promotes Capital Formation and Maximizes Shareholder Value”
Only those that believed that a tweet from a private twitter account meant something significant were embarrassed.
are you related to DC Bob?
I meant it more as a question - that being if the lawsuits are lost, do you think that there is any chance FnF are restored? I mean they are essential, what would you assume would happen to the 20.1% of the shares? Are they worthless?