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GENWORTH HAS MASSIVE UPSIDE, LITTLE RISK
Price/Book=$30.06
82% Institutional Ownership
6.46 Forward P/E
Director Purchased 59,471 Shares on 03/31/15
CFO 300k shares
Genworth tanked because of its Long Term Care Insurance business, Management working with states to fix the issue, all companies that sell LTC insurance taking hits, not just Genworth
Genworth shopping around Life insurance branch of business, once they find a buyer this is a huge profit and gaurneteed jump in stock price.
Geworth Mortgage risk insurance branch is highly profitable and will continue to be in the still recovering housing market.
let's see a close above 7.88, engulfing candle=green tomorrow
got in @7.81, price bounced off support this morning @7.65, if we can close above any of the moving averages today the chart may might start looking better right before earnings
Thinking of opening a postion soon, before earnings. From my understanding, the huge losses incurred the previous two quarters were a result of essentially expanding their reserves. Should the reserves not need to be expanded more they will be profitable, and if they can figure the solution to Long Term Care insurance the stock price will rise fast...
Everything goes right this stock could see $20+ in 2-3 years. BookPrice/Share is $30!
Will trade at 1.75 before hand, disappointing earnings report on the way
love it, i'm tweeting that last line
correct, just like last year
not if price continues to rise and we see 4s or 5s within the next couple of months
Sen. Grassley's Brilliant Catch-22 Dilemma for BO in the Fairholme Case
By Radcliffff on Yahoo Message Board, Great Post
Since, only the President, himself, has the power to invoke Executive (Presidential) Privilege:
1) If Holder admits that the President himself invoked Executive Privilege over 38 discovery documents (7 w\ the FHFA) in the Fairholme v USA case, he will be effectively:
a) Conceding the Gov't's position at the heart of the case, i.e., That either the President and/or Treasury violated the Administrative Procedures Act (APA) when they had the FHFA implement the Third Amendment income sweep, which, by itself alone, would automatically make the Third Amendment illegal;
b) Throwing the President under the bus by declaring his complete and absolute involvement in the illegal amendment.
2) If Holder denies that the President invoked Executive Privilege, it makes the use of it over discovery documents illegal.
Target Price: $1.75
Gap will close after next earnings report comes out. Earnings due May 15th
Eventful Week Ahead
Monday Response to Grassley's letter due. Will we get an answer? My guess is no, but if not that is a win for us as well IMO
Wednesday AIG Closing statements. If anyone has any information on the date of the verdict please let us know, from what I read the verdict from the judge can come anywhere from a few hours after the closing arguments to a few weeks.
Friday (Possibly) Pending on price movement (Could happen sooner, could happen later), we will see the Golden Cross on the chart, this is a huge technical landmark and is very bullish. Should this occur this week, we could see some nice gains next week.
505 signatures on first petition in early 2014
1166 signatures on 2nd petition in late 2014
That's not failing. Awareness is spreading and if we did another one now I would bet we would get over 2,000. People are starting to open their eyes with Journalists like Gretchen Morgenson asking questions in the NY Times, lifer politicians like Grassely asking questions publicly, and TV personalities like Gasparino asking questions on national television... We will prevail.
I'm going to retweet that first line, i love it
I agree, leave that publicity seeking wench of the list
Just woke up from a dream where we were released, it was intense.... it's right around the corner
Grassely was essentially asked if he is siding with the Hedge Funds (Bill and Bruce specifically) and he said it's not about that and that he has a responsibility in checks and balances to push for transparency, and that right now there are documents being withheld for whatever reason and he wants to know why, and he wants to know why executive privilege was imposed and if Obama himself had a say because in the constitution executive privilege has to be invoked by the president himself
he was asked what should happen to Fannie and Freddie, he said 15-20 years ago bad loans were made and FnF were players in making those loans and they either need to be reformed or done away with, but right now the question is about the executive privilege and transparency
Grassely on Bloomberg Now
the more the better, ppl need to see what this POS is all about
Senate Banking Committee Hearing Live
http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.LiveStream
RETWEET, Let's try and scare him a bit and actually get the SEC's attention. They only have 4k followers, if they pay attention at all to twitter they will see this, maybe make some noise to his employer as well, that POS:
https://twitter.com/WildTwins1/status/588488254552481792
RETWEET, Let's try and scare him a bit and actually get the SEC's attention. They only have 4k followers, if they pay attention at all to twitter they will see this
https://twitter.com/WildTwins1/status/588488254552481792
Barring a big change in share price, the gap has been closing a penny a day the last couple of weeks, should it keep up we have 8-9 trading days left until Golden Cross
what time?
SEC Reaches Settlement with Former Freddie Mac Executives
Financial-crisis-era case ends with the SEC attaining few of the penalties it originally sought
By JOE LIGHT And ARUNA VISWANATHA
Updated April 14, 2015 5:42 p.m. ET
1 COMMENTS
One of the government’s highest-profile cases against financial executives for financial-crisis-related woes reached a quiet end on Tuesday, as the Securities and Exchange Commission reached a settlement with former Freddie Mac executives that achieved few of the penalties the SEC had originally sought.
The case, filed in 2011, had alleged that three Freddie executives, including former chief executive Richard Syron, knowingly misled investors about the volume of risky mortgages that the company purchased as the housing boom came to an abrupt end. The SEC had sought financial penalties against the executives and an order barring them from serving as officers and directors at other companies.
Instead, the executives agreed for a limited time not to sign certain reports required by chief executives or finance chiefs and to pay a total of $310,000 to a fund meant to compensate defrauded investors. Those amounts will be paid by insurance paid by Freddie Mac that covered the executives. The other two were former chief business officer Patricia Cook and former senior vice president of credit policy and portfolio management Donald Bisenius.
Mr. Syron in a statement on Tuesday said, “The agreement states that it is not in the interests of justice to continue to litigate this matter, and I wholeheartedly agree with that sentiment.”
The settlement underscores the difficulties U.S. authorities have had in building big cases against individual executives over the financial collapse, who have argued a lot of the conduct involved sloppy or reckless behavior that didn’t step over the line to fraud.The agreement said both sides disputed the degree to which Freddie Mac’s subprime disclosures were susceptible to misinterpretation on the question of how Freddie Mac quantified its exposure to subprime loans. It also says both sides agreed to the settlement “without conceding the strengths and weaknesses of their respective claims and defenses.”
The Tuesday agreement acknowledges “there was no one universally accepted definition of subprime that was used by market participants” in 2007 and 2008, the time period at issue in the lawsuit.
“The settlement’s limitations on future activities and financial payments reflect an appropriate resolution of the matter,” SEC enforcement director, Andrew Ceresney, said in a statement.
A parallel case against three former Fannie Mae executives--former chief executive Daniel Mudd, former chief risk officer Enrico Dallavecchia and former executive vice president of Fannie Mae’s single family credit guarantee business Thomas Lund--had been slightly further along and is being handled by a separate team of lawyers from the SEC. The defendants last month asked the court to rule there was no evidence that Fannie Mae’s subprime disclosures were false or misleading, or that any of the executives thought the disclosures were inaccurate. Mr. Mudd resigned from his position as CEO of hedge-fund company Fortress Investment Group LLC soon after the SEC filed its case in 2011.
Lawyers for the former Fannie executives didn't immediately respond to requests for comment.
The settlement brought to an end a case that had been filed with much fanfare 3½ years ago, amid public calls for financial executives to be held personally accountable for financial crisis missteps. The SEC had alleged that the executives had claimed that the companies had little subprime exposure, even as they ramped up purchases of loans that had subprime characteristics.
Steven Salky, who represented Ms. Cook, in a statement said that she wasn’t paying anything out of pocket from the settlement and that they ”are extremely pleased with this resolution.”
In a statement, Mr. Bisenius said, “The undertakings to which I have agreed in order to put this case behind me do not limit me in any practical way” and that he also wasn't personally making a payment to anyone in connection with the case.
Spokesmen for Freddie Mac and for the Federal Housing Finance Agency, which regulates Freddie, declined to comment.
As punishment for such a foolish action, I think you deserve to listen to this song on repeat for at minimum 5 hours.... All in favor say aye
It's Freddie Mac and it's up a penny
Nice sell, glad I got out before last tank, this is too easily manipulated for anyone to do anything other than day trade
IFONs next quarterly results will come out and not have the holiday revenue boost like it didn't in q1 of last year and tank once again. Get out while you can, Smartphone market is dominated by a select few companies and to think this companies plastic can compete with an iPhone is absurd
Oh it's a thing of beauty. John Carney should get what he deserves very soon
Everyday the #FannieGate army grows larger on Twitter where we have access to all types of people of power. When we all tweet #FannieGate, we are heard, you best believe. We will prevail.
I encourage everyone else to do the same. He deserves to know how incredibly low he is.
Anyone that takes a contrarian position in such a debated issue, right or wrong, will get attention from the majority opinion. He is using this as his chance to gain some sort of publicity and it is so transparent by the "straw grasping" he is displaying in the WSJ. It's sickening.
This letter is a thing of beauty. And the best part is it's coming from a judge!!!! It seems every day lately we add another big gun to our side! Good luck everyone! Can't wait to see the response!
US GDP in 2014 was $17.701 Trillion. Comparing that with 5.1 Trillion in FnF mortgages.... %28.81
*****SUPPORT H.R. 1673*******
Please click "support" after clicking the link below if you have not already done so. Once you have filled out the information, a letter gets sent to your congressmen. This is one of the few powers we have in all of this and we need to use it! If you have any questions please ask! This is a huge step for us should this bill pass!
Link to show support for bill:
https://popvox.com/bills/us/114/hr1673
stock went lower on low volume because of pitiful lemmings as well
Been like this since 2013, look from august to November before the run to 6, happened like 5 times and I was just as distracted as I am now. Coincidentally that's when all the big fish ENTERED not exited
i think it was today during the trial when they were on the stand in the 1.1 billion lawsuit against Nomura
no dead cat bounce on slow bleed, this is looking good imo
Follow link to support Blackburn Bill HR1673. This is important everyone so please take a couple of minutes and follow link below.......and then pass on the message.
https://www.popvox.com/bills/us/114/hr1673
From what i understood it was basically a reintroduction of the Corker-Warner Bill from last year with a few minor tweaks, I may be mistaken but I remember some kickback from one of the top Fannie/Freddie activists
Here's a link talking about that bill you mentioned.
http://www.mortgagenewsdaily.com/03202015_financial_reform.asp
"The bill, H.R. 1491 establishes an insurance program through Ginnie Mae and winds down Fannie Mae and Freddie Mac and allows them to be sold and recapitalized. "