Brooge, I very much respect your honesty! I also am under water and have wasted many years in this, going on 14 plus. I think for those long termer's like myself, it becomes a matter of what is right, morally correct and standing on principle. We all know this was a smoke and mirrors conceived CONservatorship.

He claims government greed and then advocates also, extreme JPS greed - all at the expense of the GSE's or common shareholders, yet commons are where any capital raise may be done later, or possibly pref issued later.

My point is: government is not in this to enrich anyone, and that would mean themselves, if they are serious about having two financially strong housing finance entities released.
First, if government wants money, they've proven time and time again they can either rob taxpayers via taxes or just print all they want, so why would they need to do more damage than they already have to the GSE's and make the GSE's situation far worse, thereby making the governments worse by increasing the chance of another conservatorship, or worse, a receivership, later on?

JPS are not THAT important! Same as commons IN conservatorship, which GB fails to recognize....yet.

So...the government is going to say to hell with the GSE's and their need to be financially solid/solvent to stand freely released, all in the name of making the holders of the oooh so important JPS super rich? Correct? You find no fault in that logic?

So essentially government should release a far weaker GSE to appease a capital structure group, so that government can put themselves back into a conservatorship or worse position, very possibly, later on? That makes tons of sense. Lol

And there you go advocating to sell commons to pump the price of preferred's just like clock work. Lol Be careful though, can you be seen as an insider with the amount of JPS you own?

I sure hope prefs pan out eventually, like commons will, because if it doesn't, how many have your Miami address? Lol
You'll wake up one day and find your kites been stolen or worse.

I understand the pressure you are under...what is it like... a million in prefs bought on barrowed money? That's gotta be the worst self induced financial suicide I've ever encountered. I guess I'd be running around like crazy with multiple ID's on every relevant message board pitching a used car salesman pitch, every chance I got, but God, that's gotta be tiring to do for years.

When they knew it was going to class status before it actaully happened with judges approval, yes they could have added.

That's going to make Amelia very happy....maybe.....at minimum, throw her off. Lol

Exactly! You can't change the law that applies to all, inside a charter.

Personally would like to see proof posted on that clause or area and whatever legal interpretation of said clause/area in the charter. Doesn't sound legal to shut out a class action. Anyone has a right to sue,, even a group.

Bingo! I own both FNMA and FMCC. I will stay in this class action to see where it goes since I own fannie commons. If I hadn't, I may have opted out, or if Fannie common was part of the class, I would have opted those shares out.

I said something was fishy back when we first found out only the three class of shares FanPref, FredPref and FredCom were included but not FanCom. Quite a few have asked why a FanCom shareholder never joined, but your logic makes even more sense, why did not one of the plantiffs buy FanCom and add them in? Maybe plantiffs do own but have strategized to keep the door open, or who knows?

Recognize in court battles....nothing is by accidrnt. Invest carefully.

That sounds about right QueenVic. I'm not optimistic at all on any payout with this, especially short term. I think also we are at the beginning of a recession now. Data lags, so we won't know the actual start until after a qtr or two.

Now that's an interesting scenario! Split them!

One a utility that gives away all the free housing money they can, backed up by taxpayers....a...a...a...excuse me, government and first loss shareholder suckers who get a 3% dividend for laying in bed with the government.

The other, a completely free and public company, owned by shareholders and run by a BOD NOT beholden to government interference via socialized policy goals.

Yeah, let's see who wins that arrangement, lmao. I know who I'd invest in.

Golfbum, as I've been saying All Along, the closer midterms get, it is less likely they do anything on this, Thankfully! If it's 25% chance now, next month it will be 20%, following month 15%, etc. IMO.

This administration has way, way, way too many dumpster fires going at once, and the guy in charge is shaking hands with his pretend friend, as televised. I think anyone who is advocating for GSE release or otherwise, by these folks in charge, needs their head examined.

Happy to wait for midterms, which will hopefully get the ball rolling on legislation for us, and then by 2024, the guy who gets in maybe only needs to sign a couple pices of legislation and we'll be free as private companies. If they did a utility model on this, the government would structure it so THEY receive a huge premium for a back stop at the expense of utilty shareholders, who would be first in line to lose their investment. Basically an investor insured government backstop that would be structured so the governments risk would be zero. If the government does not want to risk tax payer money backstopping the GSE's, they need to get the heck out of the GSE's period. Let them function fully private. But you and I know the games they like to play,

About dam time. I hated the mandated call in to purchase!

Here's a basic link for the class action site. Under Contacts, administrator maybe you can inform them.
http://fannie-freddieclassaction.com/
Maybe problem is with your mail? I don't know?

Yeah. That's kind of why I was always with both Vanguard and Fidelity. They both do things a bit different enough in certain areas, and do so to attract each others customers.

It's actually a cheap newspaper like mag flyer, folded and taped with those clear dot seals. I've received 4 for my different accounts at fidelity and Vanguard. One even came marked ROTH in the address field.

Either you are unknown due to your account, for some reason, or your shares were not purchased within the specified time frame.
Someone posted a link on here that allowed you to contact the class action site and get your name added. Forget who posted it though...

It seems to be directly from the court. The site is a legal site though.

This is a very thorough link that shows the courts decision for the class action certification. Lengthy, in depth, but a good read.

https://www.casemine.com/judgement/us/61b756e3b50db9db1226e3b8

This is odd... Vanguards just sent this out.


Vanguard homepage
An update on over-the-counter securities
Dear Vanguard Client,

Beginning April 28, 2022, Vanguard will no longer accept purchases and transfers in of most over-the-counter (OTC) securities. This change allows us to better support a targeted, enduring suite of products and services rooted in Vanguard's time-tested investment philosophy and built to help secure the long-term success of investors.

According to our records, you either currently hold at least one of these restricted securities in your portfolio or have traded them in the past.

What does this mean for the securities I hold?

You can continue to hold and sell your positions in these securities. You can also make additional purchases of a small selection of global American Depositary Receipts (ADRs). Here's how you can determine if you hold an ADR that won't be restricted.

All three of the following criteria must apply to the ADR:

Consists of a five-letter ticker symbol that ends in "Y." This confirms it's traded OTC.
Has a market capitalization of over $300 million (in U.S. dollars). Market capitalization is the total market value of a company's outstanding shares.
Belongs to the top three tiers of the OTC markets (Pink Current, OTCQB, and OTCQX). These markets are up to date with disclosures and listing requirements.
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No one's upset. Let us know when you hit par or 150% par, as the JPS guru GB boasts.

Personally, if you bought JPS lower, I'd sell before the Lamberth clobbering time. It's coming.

Lol, yeah very ew of my posts survive. I thank God for guys like Elon Musk. Excited to see what he does with Twitter and see how it affects these other limited speech sites. Heck, if he gets to buying it, I very well will sign up and move there. Lol seriously

That's a beautiful quote! Great job Skeptic

So basically government wants to grow itself by 3X. And the taxes will come from????

Those last 3 items are just stupid.

Those cyber stalkers are just creepy, lol could be a man crush though, YIKES!

Thanks for posting that Navy! Bryndon continues to impress with his understanding and moral fortitude. If he ever needed more financial backing for these legal proceedings, I'd be more than willing to chip in.

Does anyone think Thompson or Yellen have read this?

Gerald Lyman Kenneth Smith was an intelligent person. I believe that he said something to the effect of you cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. 2) What one person receives without working for, another person must work for without receiving. 3) The government cannot give to anybody anything that the government does not first take from somebody else. 4) You cannot multiply wealth by dividing it. 5) When half of the people get the idea that they do not have to work because the working half is going to take care of them, and when the working half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end for any nation.

Absolutely. But recession is incoming, people will very soon not have the money to house shop. Putting food on the table will become the majorities priority, so right now it is too many buyers chasing too few houses. That's going to change, and I think the article is trying to predict that.

This does not bode well for us or any release.
Commons or JPS, don't count your chickens....

https://finance.yahoo.com/news/homebuyer-misery-hits-time-high-133900968.html

Now you guys know that is crazy talk! Only happens if 1/2 of Senate and Congress are invested here.

That is the only drawback. The perceived negativity and attention the current extreme media would report. If the media could be kept out from influencing the masses, then a deal could probably be had.

That's true. Otherwise known as the LEECH AFFECT.

That what you would and I would hooe and think, but government is all about greed, it's why the majority of bureaucrats run for office.
What I was suggesting is a grand compromise. It allows government to be a little greedy (pig) and not super greedy (hog).

Pigs get fat, hogs get SLAUGHTERED.

Lol ! Funny stuff

It would not cost a whole lot to buy everything back right now. The shares floating (unowned common and JPS) can be bought at current market price if the FHFA ordered the lackey BOD to do so. The outstanding owned shares could be negotiated at a discount as well, say $10-20 for commons and 70% par for JPS. We all know they are worth more, but those just in for the gain and not invested long term, would jump on it, just to end this horrible snafu.

If FHFA and treasury were serious they'd go this route and.....say....give up 1/2 to 2/3rds of their warrants and seniors. Once shares are bought up, re IPO. Government then after IPO can cash in with their left over warrants and seniors.

Would be a good sEttlement type win for all involved, including the GSE's since a re IPO would give them much needed capital. More shares could be offered if government gives up that 1/2 to 2/3rd of shares they control in the shadows via ever changing amendments. This would show market participants the government is getting serious and some what fair minded.

Bravo! Any sane person would see this.

For sure! They lock them up in a self imposed debtor prison. Put FHFA in charge as a crooked warden.

And that helps the gse's release with adequate capital how?

If FHFA is saying debt is paid, how do they justify taking any Warrants or seniors, which are debt collateral? If it is not collateral, then why did not government just assume the actual values right off? They can not own the stock or prefs, so made up place holder senior account and warrant. Everyone knows that they are there in case the government had to spend way more than they actually did. Even what they say they spent on the GSE's is a lie, bogus, since money was paid back in short order. That's why NWS got implemented - pay day lender comment and mafia loan shark comment from judge shows they understand the government has a collateralized arrangement. Not ownership intention.

Treasury can not OWN the companies or their stock.

Easiest way to get this settled fast is claim government/treasury are being racist and prejudiced against the GSE's, and are using predatory lending practices to keep them from ownership of their own businesses. ( remeber SCOTUS ruled corporations are people) and since the current administration is all about letting people pick their genders and other such things, I say we start claiming we are a business of color, or indeed a minority business since the GSE's pretty much are the only one's doing exactly what they do. Let's see how that helps our situation. Our arguments should stand up in court since we can point to that SCOTUS ruling. Then on to an affirmative action suit to free the GSE's from the social injustice of a racial conservatorship.