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That's laughable...the board was castrated and government lawyered into submission. The bod stopped existing the moment they were threatened. Why has absolutely no one from the previous bod said even peep about this conservatorship? I'll give ya 3 guesses, but I bet you can get it in one. Lol
Anyone paying attention could. They broke numerous laws threatening the bod and other things.
Oh yeah,,agree
Lots,,tons of degrees in DC, but look at the country. Our debt, our courts, Senate and Congress. I'd rather have painters, plumbers and electricians running things.
Nope, wrong yourself. Prefs are never varriable rate.
Like a bond, however, a preferred share generally carries no voting rights, has a par value, and tends to pay a fixed distribution rate that is determined at issuance
Prefs are a FIXED rate payable dividend, interest on loan basically specified in the pref contract, commons are a varriable rate dividend paid quarterly, if company does well, commons do well. Not true for prefs since the rate is fixed. It's very possible for a common share to pay more than a pref, do you agree?
Pref shares are callable also, especially higher paying ones. Commons are not.
There in lays the rub...excellent mrfence
Someone showing us how badly the price is being manipulated?
I was gonna say...some sort of signal. 70 some million share trade, now this after years of never anything like either, makes you say, Hmmmmmm
70, whoa. Happy bday.
What if they threaten to screw his retirement? DC plays dirty, especially with this, I'm sure. The rat bastards in government have the attitude if they can't get rich off it, then nobody does.
A big part of the problem is we have 20 and 30 something reporters or more likely, opinionists who are byproducts of the current education system which has devilved into a cluster fuckology. They are very bad at reporting facts or are very bad at being thorough, thennyes, we have the other clowns who mislead on purpose for political party reasons. They've all graduated with bare minimum English, Science and math but tons of PC, woke, counter culture and any socialist or communist government is better than our current government ideology. The last of which is actually almost starting to make sense with how our branches are acting.
Just be careful of the fine print when they release the terms for the class. This kind of smells like a government initiated settlement to more appease the plantifs and lawyers of said class action. A back room deal so they can escape major payment to the larger class. It would also fit with Lamberth's backing of government actions. I know his quote about the FHFA should not be able to do what it wants, blah, blah, blah...there's those 45 days for the current administration and it's lackey DOJ to change up Lamberth's perspective.
If SCOTUS can rule or was got too by the government, and as SCOTUS did rule and ignore the dirty crappy treatment of these companies and shareholders, what do you think government can do with Lamberth? Just not very optimistic on this at all. Something fishy has yet to be discovered, I think.
Thanks for your info on this Guido, I do appreciated it. I just dont see it as that positive a development.
Maybe Bryndon Fisher can twaek his suit?
Or possibly that newest suit that was filed not long ago, navy had the info on that, I believe
Exactly Chessmaster! Devil is in the details as always, so keep your expectations in check.
We won't know anything for awhile.
That's the problem with the article, it misconstrued by ambiguously stating FNMA or fannie Mae shares, it's not the commons though, only the JPS.
People need to read the actual court order posted here today.
Specifically calls out: FMCC common and JPS,
FNMA JPS only
Years ago there was some other class action involving FNMA and yes, one of the stipulations was if you participated in that class you would loose any future ability to be part of other legal goings on at the time. Not sure if others remember or not, letters were sent to shareholders. I never signed up.
Only the lawyers and plantiffs (usually) make out in class actions, that's just kind of common knowledge. Most I ever got from a class action participation was like $54, which was really laughable at the time. Lawyers and plantiffs got 10's of millions.
Same manipulation going on with this news as with the Trump letter. How many will be sucked in? I'm a shareholder of both GSE's, but no news is going to do much damage until we hear the words "release", "consent decree", or a headline calling out the real story on this 14 year fraud.
FNMA is up...why? Not part of the class. The same BS will happen like the Trump letter. Euphoric a few days,,enough time for the supposed shorts to cover theology then BAM, we go back down.
No award has been put out, nothing is known about what the class plantifs will be getting or their lawyers, so the chicken feed leftover is not known. I understand speculation and that is exactly what's happening now.
I agree with Guido. Hold, sit tight. Nothing to see here....yet.
Every class action I've been informed of (part of) or heard of, the Lawyers make out the best...next, the appointed class plantiffs (individuals who filed the case) make out the next best....the rest of the class get chump change.
I'm not getting any hopes up or setting my sights unrealistically high. These courts have always progressed to disappoint, and on just basic class action suit knowledge and involvement, I don't predict much.
Hate to sound negative, but this is no release.
I wonder if it will do anything at all. It does nothing in terms of getting us released. Maybe an award for a special one time dividend is all this will do, unless Lamberth really grows a pair and forces government to do something drastic. He can't force the conservator to turn dividends back on permanently while the fraud conservatorship is on going. The government will argue that that is detrimental to capital/release.
JMHO
KO. Lol
Worst kind of people to elect and give power too. Cowardly ambushing defrauders.
Very nice Guido! Many need to retweet or put them on the spot just like that. Another could have been, quit throwing rocks in your glass house! Fix you're corrupt conservatorship, then you can preach to others.
No mention in the article about over priced finger paintings, so pretty much a bunch of worthless platitudes.
Without lube and a sandpaper condom.
Ok, that seems straight forward enough
I think the lawyers need to also ask the judges if capitalism is dead, because the GSE's being held 14 years is not capitalism.
You need to ask headline attention grabbing questions when given the opportunity if you want this to be exposed and relatable to more of the general public.
Thank you for the trick! I'll try it next time if my cluttered mind can remember. Lol
I don't have a WSJ subscription, maybe navy can super cut and paste. Article out this a.m.
https://www.wsj.com/amp/articles/fannie-mae-freddie-mac-housing-crash-mbs-subprime-credit-rating-11638577250
I heard about this way back but never saw a big article on it like this. I would love to hear what his widow-wife has to say...
Returning money they stole might sound like a remedy, but what about all the hardship and monetary loss that shareholders now bare due to this government concocted extortion? If two years would have had us released by the end of Trumps term....what would the commons and prefs be worth by now? That's what the courts absolutely DO NOT want to talk about, because I'm sure they realized awhile ago the government screwed up royal on this.
We need a hard nosed, honest judge or Senator to come out and say as much, that would add gasoline to Trumps letter bonfire.
That's not true. He moved right after the scotus decision, so his admin was watching like a hawk. They didn't want Calabria for his stated HERA durration. They'd never be able to do the things they are doing right now to hurt the GSE's prospects of getting released if not for this current FHFA head, who I think is just an administration lackey doing what she's told to do. Not worried at all about release. It's also why Calhoun will most likely never be appointed. They like using their 1,000 cuts approach, that way they screw it up worse for the next admin who comes in and has to untangle the web again, but then spin their own. Insanity cycle resumes. Courts are the only out
Exactly, it will boil down to the BUT FOR and woulda, coulda, shoulda spin arguments on both sides. I really hope the Collins lawyers have their ducks in a row this time around.
Robert, I feel the courts are going to milk the whole "what if" scenario. Before it was incumbent upon shareholder lawyers to prove Trump would have done anything, if at all. Now that Trump has established a resounding YES, he would have done more, now the courts will keep playing the "but for - what if" game because there's no way to go back in time to say what the real outcome would or could have been. So it turns into a big speculative clusterfuk proof of burden to both sides of the argument. One side can say tons would have been achieved while the other claims very little. Basically one sides words and analysis against the others. You can have expert testimony until you're blue in the face, the reality will be no one knows WTF would have transpired due to how bad DC is screwed up.
So how do the courts end this nonsense??? How do they come up with a fair damages assessment?
I'm worried courts will use the whole who knows what could have happened logic approach, or that no one can say exactly what would have happened, to screw us over. It's easy enough to do with all of the known dysfunction going on in DC for years now.
This is all going to depend on how pro government the judge is or not.
Absolutely. But it had a little Trump tone thrown in to make it his. Lol either way, it's good he finally backs us up once again.
Stuff the media outlets should be saying...but wont. Pathetic
Lol, yes sireeeee
I agree with you. There was an article today though, which said the opposite. It stated the rise in share price was due to the increase in amount that the GSE's are now allowed to accept for mortgages on houses. Probably just the Biden administration taking advantage of another crisis. Instead of having a media outlet report the facts of what that letter means, raise some smoke and mirrors to give Biden and his non appointed FHFA head pats on the back for helping million dollar home owners. Never let a good crisis go to waste, even if you gotta lie your sox off. Seems to be the current motto of this admin.
Hard to believe we popped yesterday solely on the basis that Biden allowed the FHFA head to okay million dollar loans for millionaires in NY and Cali.
Okay, thanks.
Can we get a post like this with the letter in it sticky'd so it's easier to locate?