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The government has no opinion, in case you've been living in a shell. They do whatever the hell they want, regardless of right or wrong, its called totalitarianism. Could be why there are so many law suits and numerous individuals calling it out here, twitter and elsewhere. Read the current polls they did on faith in government. You'll be surprised I bet.
I know everyones opinion amounts to a hill of beans, but I will not advocate for this corrupt government, nor will I stop fighting it's theft of my property.
If you don't think government has been paid enough....when will you? Why invest in this if you want to turn all equity over to -yes- a very greedy government and JPS who have way less risk involved compared to common shareholders?, who are the backbone and have been screwed the most.
Hopefully the courts get balls and step on the governments peanut, give them no choice but to act and act right.
If that capital is tied to warrant exercise or hair brained conversion, then yes, it is raping the companies of their value to line the pockets of government and JPS
What's totally screwed up is GB advocates for both government and JPS holders to basically rape the GSE's of all capital, yet then he says in the same sentence JPS will convert to commons? Like all money and value will miraculously levitate towards JPS and government before a cap raise with issuing more commons. Then tons of folks are supposed to jump in on a very highly diluted common share. Yeah, I got swamp land for ya. Lol
“hear, hear!” It is an abbreviation for “hear, all ye good people, hear what this brilliant and eloquent speaker has to say!”
I'm with ya Guido. I may be getting a bit more jaded and really skeptical (there's that word!) Of courts, but I hope beyond hope that someone besides plantiffs see the terrible miscarriage of justice and law going on. Still long and strong 14+ years now
Well, that's 3 times FMCC got close to my order @ 0.80 and did not fill
I was gonna pipe in with that! Lol
Porky is close 2nd though...so jog49 is close
Lol, that's sadly pretty close to the truth.
I own'em both!
Wow, lots of legitimate and well deserved slamming of MC on that thread. Every poster was spot on, how often does that happen? Shareholders are beyond pissed with 14 years of political gamanship football. I wonder if he would have posted that if he knew how badly he was going to get reamed? Lol no worries, KThomp can go post an atta'boy post. He loved quoting MC.
You tell me then, why then does government hold seniors over your JPS? JPS Are suing for the seniors getting a dividend for aaaaaahhh 14 years, yep. While JPS got what? That's right, not-a, zip, zero. You still think you matter in a capital stack? Lollolol.
Do you know how many folks follow preffered shares versus common shares in retail? Yeah, that's scary.
The harsh reality.
Good man
Colleges are woefully inadequate and messed up when someone can graduate and have the understanding that that two words, defined worlds apart, are not much different. Hmmmm Websters and wiki both need to either delete one or the other... conservatorship or chapter 11 definitions and explanations since they are deemed the same here by our expert.
He's also no longer relevant. Makes zero decisions that affect this anymore.
Ask Bradford. Lol
Here we go again.....do you notice any differences? There are more.
Conservatorship: In the United States, in some states, corporations can be placed under conservatorship, as a less extreme alternative to receivership. Whereas a receiver is expected to terminate the rights of shareholders and managers, a conservator is expected merely to assume those rights, with the prospect that they will be relinquished.[6] Robert Ramsey and John Head, law professors who both specialise in financial issues, suggest that an insolvent bank should go into receivership rather than conservatorship to guard against false hope and moral hazard.
Chapter 11 : A business in the midst of filing Chapter 11 may continue to operate. In most cases the debtor, called a “debtor in possession,” runs the business as usual. However, in cases involving fraud, dishonesty, or gross incompetence, a court-appointed trustee steps in to run the company throughout the entire bankruptcy proceedings.
The business is not able to make some decisions without the permission of the courts. These include the sale of assets, other than inventory, starting or terminating a rental agreement, and stopping or expanding business operations. The court also has control over decisions related to retaining and paying attorneys and entering contracts with vendors and unions. Finally, the debtor cannot arrange a loan that will commence after the bankruptcy is complete.
In Chapter 11, the individual or business filing bankruptcy has the first chance to propose a reorganization plan. These plans may include downsizing of business operations to reduce expenses, as well as renegotiating debts. In some cases, plans involve liquidating all assets to repay creditors. If the chosen path is feasible and fair, the courts accept it, and the process moves forward.5
The Small Business Reorganization Act of 2019, which went into effect on Feb. 19, 2020, added a new subchapter V to Chapter 11 designed to make bankruptcy easier for small businesses, which are “defined as entities with less than about $2.7 million in debts that also meet other criteria,” according to the U.S. Department of Justice.6 The act “imposes shorter deadlines for completing the bankruptcy process, allows for greater flexibility in negotiating restructuring plans with creditors, and provides for a private trustee who will work with the small business debtor and its creditors to facilitate the development of a consensual plan of reorganization.”7
That's for sure! I bet his source said $50-$80, and he plugged his ears and went Lalalalalalalalalalalalalla don't want to hear that. Lol
Exact A Mundo! Government screwed one class of JPS just B4 conservatorship, yet JPS are preaching capital raise. Lol doesn't matter if common or JPS shares are used or created to raise any capital, even if small amount. No one wants to jump in bed with the devil government UNTIL they right ALL the wrongs in this.
In his world JPS have unlimited, uncapped value while commons are worth tiny amount. The opposite is more true.
Government has a way of making everyone jaded. My generstion just happens to be very jaded towards any and all government. You're learning, albeit the hard way like most younger generations. You'll soon learn not to look towards government with starry eyed unrealistic expectations. 40% are like AOC and the rest of the progressives, they don't have any idea what they're doing. 40% are like Pelosi, McConnell, Schummer, Romney, etc they've been there so long and schemed to fill their pockets and are bought by one special interest or lobbiest group. Then there's 20% who are smart enough to do the right thing, but they are outnumbered by idiots on one side and smart crooks on the other.
So keep those rose colored glasses on about some gigantic cap raise that will get you 1.5x par and 100's in back dividends.
I buy commons because less complicated and you own something. Plus the sky is the limit if smarter heads do happen to prevail.
I spend time here and with many other things I'm invested in. So no time for kite surfing or skateboarding!
If true,,bravo! It's never easy to expose damaging truths, but it is necessary and incumbent upon those with the fortitude and high moral character to do so.
So you're positive between now and release that enough capital wont be retained? 1. Even though the cap level percent will be changing, and every quarter adds about 4.5-5 billion/qtr, and 2. Courts are more likely to find for derivative damages opposed to direct, and 3. the government has shot themselves in the foot on this hundreds of times in the media, by villianizing hedge funds and shareholders through the years, yet you think folks would pile into this for a capital raise? That's alot of hurdles, don't ya think?
Far more likely they screw all shareholders using and abusing both JPS and commons and also the seniors. Why go to the public market when you hold all the cards? Thinking the government holds any class higher than the other, and that they follow business law on this is now wishful thinking. They care about what THEY own. Hera proves and SCOTUS says they can do what they want, so your whole point about where you are in the capital stack is totally irrelevant. My opinion
IF the courts finally wake up, we'll be lucky to get reinstated to our former positions. Period. That would lift both common and pref share price, but I bet common rises higher, longer.
For what?
Cheers! I'm drinking Mr. Scottchy tonight also. Almost killed my bottle of monkey shoulder. Lol
Same to you! Here's to being released in 2022, some how. Lol
Happy New Year people.
Lmao. Skeptic, you know the saying....if you don't have something nice to say.....well just go ahead! We all expect the negative nancy persona pretty much, lol
Bastard Paulson played both Bush and the BOD like cheap fiddles. He was double talking and dealing.
Whoa! Shouldn't that be called - not of a minority color paper? Or blank paper? At the very least maybe called a Caucasian paper? Lol
Just sticking with the liberal swing of things.
Those are solid good questions. Not even government can answer because of their dysfunction.
Not so sure they can wait that long. With housing prices going crazy due to housing shortages, then like 10-12 million reported new houses needed, plus all the irrational exuberance that's for sure to follow the banks and mortgage gangs again...we could end up in another 2008 type crisis, but maybe a bit different, maybe worse?
They either free us or make taxpayers pick up the burden next time and they puedo nationalize-utility us. Also don't think they'll wait for those warrants to expire if they can figure out how to enrich the governments grimmey little paws. Whoevers president and anmounces that expiration, will be roasted, possibly from both sides of the aisle, since both sides have had a hand in cluster fuking this up.
Just to be clear. I don't agree with exercise of the warrants. Government has stolen enough. But if by doing so, they sell to market or make shares higher in demand, thereby driving the price higher (Ackmans $42/share anyone?) I'd be good with that if my shares reflected that value.
Yeah but mrfence, what would be good for da goose (government), would be good for da gander (shareholders) in that case. Their shares are attached by the hip to our shares based on the 79.9 and 20.1 ratio they have chimed about for years! No way do they get rich on that without pulling us along. How do they manage (I'm gonna say it) a windfall on only their 79.9? You can't legally. So as their shares would go, so would ours. The warrants say purchase of 79.9...blah, blah, blah. Not purchase of a new class of shares or anything else. It says purchase of a percentage of existing shares. That's kind of a good thing and why I say government will look out for that relationship more than pref's, but those JPS guys don't see the logic....yet
Also, someone mentioned how in the world does government follow through with the warrant purchase verbage since that would require congress to kick treasury in the pants to find the money to buy. THAT is probably why Trump was limited in how far he could go administratively. He would have never got past the Dem controlled congress to free up money for the warrants. This is why midterms are first critical step, then 2024.
I don't think you'll see a jump in a 0.70. I've had a buy order in for months at 0.80 and it has yet to fill. I think many have orders in (big one's) at 0.80 and below, so I don't think 0.70 will hit unless some really bad news. Last time it was sinking from $1 dollar land down to about 0.82, then bounced back up around 0.90-$1. This is when I put my order in. Prior to that otder I had one fill for 0.90.
If my 0.80 ever hits, I will see what the circumstances are and news outlook. If still good to my personal thesis, I'll throw down another 15k to buy at 0.75 or 0.70 myself.
This is going to get more interesting, watch and see. Lol
With BBB (Build Back Bolshevik) gone for now, the administration can not follow through on socialist housing agenda. January/February they will try again, no doubt, and hopefully fail again. After that, midterms season will start, folks will be in campaign mode. So far 24 democrats are retiring and only about 10 republicans. News is projecting well over 30 dems will be leaving, most due to the unspoken truth "abandon ship!".
Democrats are saying they will retain their majorities in both houses, republicans are predicting a red wave due too Afganistan withdrawal debacle, leaving billions in military equipment, vax mandates, super inflation, 1 trillion infrastructure bill with only about 250 billion for actual infrastructure, a nonexistent border, many on air public gaffs asking for permission as commander in chief...and the list goes on!
If midterms flips majorities in both houses, administrative resolution to this will be moot, gone. Republicans will pass the needed legislation to get this done and out from under an executive resolution, especially if their majority's are large enough. Biden can veto until 2024, by then he destroys the dem party by not getting anything done with critical housing front and center. 2024 the Republicans will take the presidency and this finally gets resolved PDQ. Just my prediction that I've been repeating and will stick with.
Unforeseen is whether the Dems will try to knock Biden out of office, use the 25th. Harris moves to president wont matter, same situation IMHO. She'll be controlled same as Joe. Not going to matter if house and senate flip. What will matter is if house and senate attain big enough majorities for impeachment proceedings. That will be a red herring. If impeachments start, we go to back burner again. But still a 2024 solution can be had. Critical election for us.
BbbbbbbbbaBINGO!
Fraud, fraud, and yes, even more fraud. Embezzlement fits also.
Embezzlement: theft or misappropriation of funds placed in one's trust or belonging to one's employer.
Great stuff! I can see the logic of Enbanc's past favor with shareholders claims and now Trumps letter playing into this even more.
Yes, we do seem to be simpatico on the details of how we got here, just of a differing opinion on how this gets settled and final outcome.
All GSE money went to the black hole called the treasury, whom absolutely no one audits. If you do not think BO had his treasury secretary devise/create an account to hold money that could be laser pointed to ACA activity, then you are blind to how our government truly functions on their political basis.