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@USTreasury held warrants need to be repurchased by the GSEs at the price of issuance @stevenmnuchin1 @MarkCalabria @ARiquier @KatyODonnell_ @pimmfox @MKTWgoldstein @CGasparino @RuleofLawGuy1 @1matthewfisher @shadow_copper @T_Castelluccio @hannahdlang @HoldenWalker99 @POTUS pic.twitter.com/0nCqDyMkYU
— Gordon Zernich (@GordonZernich) September 15, 2019
meh warrants video coming up
many angles to present, upcoming presents only one
many ways to say the same thing, but some understand it one way, some understand the issue using a different approach
it's a shot
however, I have a regular job Monday -Friday
and with commute LONG days; and have regular household chores, etc
lol, I'm cooking up a video
it will release tomorrow
give that a break!
A gift to hedge funds? a Wall Street bailout?
Wall St./commercial banks are totally against see the Twins do well!
A gift to hedge funds? What! That's crazy! Bring on Justice Sweeney & let the f'ing music play with the 11K sealed documents!
How about a deal to give the Parrotts, Stevens, Ugoletti, Sperling, Wallisons of the TBTF community less time in prison!
I never heard of nor seen her before I watched the video
that's not going to happen
better a fair settlement concerning the warrants
the warrant were/are a rip off play orchestrated by someone in Treasury
Warrants were/are an insurance policy of sorts
the policy wasn't used ... neither was it even NEEDED!
That needs to be investigated!
the SPSA 10% was OVERPAID by, what?
$25 BILLION!
or it may gap down to $3.60
seen that happen for years
Senior Preferred shares that is
but what about the warrants?
Does increasing the value of the warrants help both the Treasury Dept & the common share holders?
The Treasury helped in the form of providing enhanced value to taxpayers. And providing a base secondary offering price for common shareholders?
fact check, please
Does increasing the value of the warrants help both the Treasury Dept & the common share holders?
The Treasury helped in the form of providing enhanced value to taxpayers. And providing a base secondary offering price for common shareholders?
PU
the pps chart for one year is ugly
technical analysis is useless
ah give him a break!
idk where he stands, but he's obviously gun shy from past experiences
don't bet on that!!
look what happened to Michael Milken, for example
he got in big time hot water for junk bonds
On April 24, 1990, Milken plead guilty to five technical counts of violating securities laws. He was sentenced to ten years in federal prison but was released after two years for good behavior. He was also fined $600 million.
he served the minimum & now he's got his own "think tank", lobby, etc
he got off easy
it's tough to know
how the preferreds will be valued: some say at par, others 1.5 x par
I'd be happy holding on w/o conversion: where can anyone find that kind of interest rate now-a-days?
If conversion to commons is in the cards, though, the amount will depend on various scenarios
I'm in both asset classes, but I'd love to keep the preferreds as fixed income
thank you "Potty"
for the clarification
its appreciated
looks to me both preferreds & commons are priced for x2 at a minimum now
Bhatti & Rafter plaintiffs
alerting Justice Sweeney of the 5th circuit's en banc decision
"piling on" lol
as if she doesn't know
Treasury & FHFA feeling the heat now
Sweeney's trial scheduled to start Nov. 19
Some of the main characters of the GSE heist MUST stand trial, imo, to keep something like this from happening again
maybe Calabria is talking about
something that will never happen: like congress increasing the number of GSE charters, etc
he needs to be schooled about what works in the business world and in the world of investment bankers
one guy said (ROLG) Calabria would like to set g fees and manage the profits of the corps.
I'm thinking "manage the profits of the corps???!!!???"
Like, what does he mean by that? He's not a CEO! What would he intend to do with the companies' profits! We're the shareholders!
you never know what Calabria
is going to say.
He's big on theory, bad on cobbling together a viable business model.
Every time he opens his mouth I hold my breath.
He should let Mnuchin do the talking: he has the experience & acumen to know what works.
Got to wonder if ...
pink sheet market makers are trying to wipe out positions/accounts using "stop-loss" orders ... only for those investors to repurchase at a higher price
idk
yo!
He's the stud that plead the case for the plaintiff last Jan 23 (or 24?) @ 5th circuit en banc
he's the man!
many ppl also agree
with that assessment
Sweeney's hearings start ...
mid-November
before now & then
though, $3 is the basement for this equity until the sweep is nullified
thanks for that
it makes sense
idk about the Icahn/Paulson part, but, yeah, thanks for the input
for what its worth
I fully agree with your sentiment re Judge Willett: he interpretation of law is not wooden, neither is it revisionary.
Judges like him are extremely rare
and the preferred?
eom
Looking good
thank you
I'm going by what ROLG
posted
He's certainly smarter than me about such matters, and I'd say smarter than most on this board
He could be wrong, too
anybody with "borrowed" shares
will feel the heat tomorrow
How/when will they sell to cover?
Before the open?
After 2 pm?
lol, not a good place to be
idk, talking out of my hat, but
it would make sense to me that
if a private, common share stock placement was done at a big discount to the underwriters, it would prime the pump should a new stock offering take place.
And, should it take place, it would be in the best interests of the underwriters to make sure it would be successful since it is also directly tied to its financial outcome just as FNMA & FMCC are
It would be way out of character
if Trump was/is playing the "low key" role.
Perhaps he has good reason to keep his distance from the negotiation process.
Trump's past is more aligned with real estate & not Wall Street per se.
Mnuchin is his ear to Wall Street and common sense as to what the market will accept as a good recap/release plan for the GSEs and what would be a dud.
Agreed. I hope we're correct
Mnuchin has banking experience; Calabria is an economist.
The gulf between the two is HUGE.
Perhaps Calabria will be a good manager, but Mnuchin carries the hammer.
I was badly disappointed with Mnuchin's announcement of the deal last Thursday. It literally was a nothing burger and the market responded in kind.
We will see -- now -- how this deal is executed.
Agreed with all but ...
interesting point you make regarding Trump & Calabria. Calabria IS removable now. By Trump. By prospective new president. Calabria will need to do a deal that the market will support.And that Trump can take the credit.
In comes Mnuchin with his experience. Trump will take the word of Mnuchin far more so than that of Calabria.
Calabria better stand out of the way. Trump will make his life miserable if he doesn't.
agreed
Though the 5th en banc opinion is important, as per Tim Howard, it does not directly affect developments in Sweeney's courtroom, but imo it can't hurt the chances of the case(s) being heard there.
I'm optimist.
The takings case in Sweeney's courtroom will be based on facts, 11k sealed docs(!)
Looking forward to seeing the dogs loosed on Treasury & FHFA there
I mostly agree
but not so pessimistic as to the inevitable outcome.
Politicians or both parties can't be trusted and will do anything possible to keep the GSEs hobbled.
So, the 5th circuit en banc was a great opinion that will not be contested by the Treasury or the FHFA to SCOTUS. That court's decision was vital
I agree with your comment on Trump, too. He'll do whatever it takes and throw anything or anyone under the bus to get re-elected.
Mnuchin hasn't the backbone to support what is just and correct, and so he will go with politics to a large extend.
However, if the case goes to trial in Sweeney's court, the jig is totally up for Treasury & FHFA.
that is incorrect
Howard said this on his blog tonight:
Sweeney isn’t ruling on a motion to dismiss; she’ll be ruling on whether her court has jurisdiction over the takings case brought to it by the plaintiffs. I don’t believe the decision by the en banc Fifth Circuit will affect the timing (or the outcome) of that ruling.
sounds reasonable
chances are sub $3/share is
HISTORY
Sunset Blvd
lol, there are cases pending
from seven-eight- eleven years ago! The TBTF banks are masters at delaying court trials/decisions.
It may take plaintiffs a decade to settle the case/ get compensation.