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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.
Exactly! Trump would have maximized the common share price to maximize governments easiest way to a gain, via commons share appreciation, when released after the cancelations. KISS! Bradford's plan is way far from simple, and results in even more litigation, which he seems to have made a hobby, so there's that
Wouldn't the cost of these places be covered in the GSE's 10k? Or is government footing the bill? This is where they love confusing everyone invested in this. Who the heck is paying what to who? We all know in the end it is GSE shareholders paying, but through the companies or through some obscure money train leading to treasury/FHFA? Who chose's these banks and advisors? FHFA? Treasury? The companies? Everything essentially financed and taken out of the GSE's so why are we not released and doing it with our own ELECTED BOD ?
Yeah, I remember that...I think he did that to keep the Chinese government from finding out something, since they were (and still are) heavily invested in this. That's yet another reason that they can not bankrupt these companies.
No doubt, probably part of the presidential privelege docs.
Between the bank settlements and robbing the GSE's, government nets approx 550 billion! This is all money taken from investors, the economy. Where did it go? When do we get an accurate accounting of what was taken and where it ended up? I call bullshyt that it all went to treasury general fund.
And magically the governments 79.9 and commons 20.1 disappear. Where are all the new owners? I haven't heard anyone inquiring about the new GSE's? How do they justify and legally resell two very profitable companies with existing shareholders? Isn't that a massive fraud? I could see new re-ipo if companies were bankrupt (never happened) and then bailed out with government funds and still owed(everything plus has been paid back), but there are two companies with over 75 billion in capital and earning billions per quarter that are owned by a minority group.
So government can just wipe all that out, claim bankrupt tomorrow, next day say restructured and IPO new places a week later? Yeah, in your dreams.
So you're saying their plan to recap the GSE's and to protect the housing market is by stealing every penny they can from the GSE's so they'll......what?
The JPS narrative of getting rich or the government getting MORE rich does nothing to protect and secure the housing mortgage market. You guys continuously fail to understand preserve and conserve. Always talking bankruptcy restructure. They've been building capital for years now, and were restructured, business wise waaay back. When they are finally released the only things having to be dealt with will be what the government controls. JPS will be as they are, priced as the market determines, as things happen. Commons also.
Sorry to pop your balloon. Logically, they can not financially cripple the twins at release (if release is their plan) because you risk destroying or screwing up the whole thing again, ala 2008.
B B B B B BINGO!
Forgot to add...sticky please!
Guido, I think altruism is about 3'-5" here....and a small money one at that. Pumping the doomsday scenario to make a $25 gain here or there.
Government seizing funds of owners....does this sound familiar?
https://www.foxbusiness.com/financials/cryptocurrency-expert-says-us-should-watch-what-canadian-government-is-doing-to-protesters-no-one-is-safe
This is a government theft situation with on running court battles and a bogus onservatorship by a rogue branch created by government.
The hope of shareholders here is that it does get rectified some way.
Only invest what you can afford to lose, like any gamble, because that is what this is until we get some court or political wins.
Good luck, welcome aboard.
This is a figgt worth having with the idiots in charge in DC! Jmho
This is very true facts. They never cite or report in the media the actual legacy equity that is packed into the GSE's. Always using the phony taxpayer subsidized gains of shareholders, which is bullcrap.
I'm very close to paying my original 195k mortgage off, originally funded via 30 year, converted to a 15 year after about 12 years. Everyone with any financial smarts knows the first 12-15 years on a 30 year loan is pretty much interest, very little equity, then there is home price appreciation over those years (my current home is now worth 300k) all that interest and equity is never accredited to the GSE's when they are talked about, especially when they discuss needed capital. This is why their cap level combined was probably set at the 70-90 billion range, which actually would have been too much if 2008 was allowed to play itself out.
I could see maybe setting capital at 100billion right now just because of inflationary house situation currently. The 250 billion to 300+billion capital numbers that were being thrown around are truly rediculous and feels like a government setup to do another future theft.
JMHO
You know what we all need to do? Commons and JPS? We need to gather a large group of us and transfer all our shares to a trust type account or mutual fund of some sort. Use that as a club to pound the government over the head. If we own the 20% and could gather most of that 20% in one place, we could threaten to sell everything, thereby forcing government to account for the 6/7 trillion on the debt. Send out a news bulletin to all the media, saying it was blackmail that got us into this, maybe blackmail gets us out.
If they had to book those trillions on the debt right now, there'd be blood in the streets (Wallstreet). Many are fuming about the existing debt and all the complications it is going to cause and is causing. Now imagine if we had the power to force an increase of that debt by approx 20-24%.....
Do you think they'd move on this? Like tomorrow? Lol
Everyone locked together in a trust, giant shareholder activist group holding an economic bomb.
They couldn't bankrupt, because the same outcome, they end up booking the debt. So they would be forced to bargain, release.
Just a wish of mine. Lol would love to see all of us bend them over a barrel, for a change. Heck, we could maybe even use that clout to fix a few other things
Thanks.
Ooh come on! Yes GSE RELEASE, CAPITALIZATION, MOVING US FORWARD OUT OF GOVERNMENT CONTROL!
What did Barry do to affect those things POSITIVELY.
Next will be autos, mark this post. Doesn't everyone deserve fair and affordable transportation, plug ins? Not happening now, exact opposite. Cars are way expensive now, anyone who has shopped a new or used car knows. When is this administration going to step in and level the automobile pricing playing field? Throw Ford, Gm, Toyota, Tesla, Rivian, VW, Honda, KIA, and all the rest into conservatorship until car prices come out of the stratosphere, in fact make them all price within a government set window! Lmao. It's coming. Majority of cars run as much as houses in some areas (Democrat areas, like Detroit, East Chicago, Bronx,mSt Louis, etc.). So when does the auto industry social engineering start? Oooh maybe they won't do this because too many union votes would be affected? Lol
Government dictating winners and losers is not a free market and skews very badly the true functioning of markets. You need look no further than what 14/15 years and three administrations has done to the GSE's. And here we still are because no administration can get it right for everyone. It's not governments job to constantly dictate social laws, control markets. They can either make laws or regulations via our democratic system based on the constitution or stay the F out of the way. Making branches (FHFA, CFPB) of government to purely dictate to corporations/companies is not free market.
Not sure if this was posted yet. Info.
https://amp.mortgagenewsdaily.com/article/620d3b057b2b4a10f47e4bda
https://themreport.com/daily-dose/02-15-2022/when-will-the