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Donotunderstand, it seems you must be right, maybe one way they get leverage and an eventual cover, the other they get cover... win-win, kinda
I don't think you understand what a settlement is, or how a statute of limitations works, since of course they can settle and given the time now passed that would be it...
Where is the volume? Weird
But these folks are NOT stupid, so then the question is WHY they are going to SCOTUS?
One answer is that they want full political cover before letting the plan rip - I suspect this is right;
Another answer might be leverage in settlement talks, BUT if SCOTUS says no the Treasury has less leverage... so not sure about that;
Any other substantive suggestions would be very welcome, cos this is an interesting tell on what Treasury is up to.
Stinkie, I agree but I take 2.90
Nice - go Stern!
Yes indeed, I will be glad to see the back of this filthy exchange...
TRCPA, remember ACG recently recommended the prefered, and ACG has not said no conversion - so the pref has a reason to short and deep pockets...
Trunk, what I cannot get out of my mind is that pref holders have an incentive to short the common prior to a conversion, they have deep pockets and assume they have lots of common coming to them...
I think up until conversion -- or definitive news that it won't happen -- then we will see this continual, concerted, shorting of the common. It is one reason I moved out of common. (I also do not trust Calabria who is an ideologue wedded to crazy thinktanks for his livliehood...)
The pattern last year was that the deep lows came later in December, I remember since I bought the common then right around Xmas
I suspect we may see that again
Why is everyone here so grumpy and angry? We made 250% gains this year -- get a life!
Rick, I seriously doubt that, I think sub-$3 by Friday, but I hope I am wrong...
We shall see, best, potty
Underwhelming move -- gonna get whacked imho before Jan 1st...
Yup, but we been here before, taking my morning gains -- and I am OUT
No news in run-up to Xmas would mean another whacking none the less
Going to run...
Yup, she is boarding now... going to run a little
I bought me a ticket for the 9.30am express...
Reading my screens with the wrong glasses? lol
Prefered jumping... a little lol
Perhaps, but Philips plan was done - google it
Can you give ONE legal reason stopping conversion as part of a settlement? FHFA as conservator has VERY large discretion in their actions. This kind of conversion is common in restructurings and was used in Citigroup exit from bailout...
You can puff and blow, but you identify nothing to stop a conversion - it is coming and a good thing, too
There is a plan, but they have not shared it with Joe Shmo’s like us - what do you think ACG’s David Metzner’s info is based on? They have their plan...
More terrible reporting
Yeah, Mnuchin’s friend who he hired to do a job - job done, he left
Zero pertains to conversion lol
Old expression is “non sequitur”
No idea what that meant - but I know what Fairholme as plaintiff means FLAT capital structure, from conversion, just like Craig Philips suggested - oh, right, yeah, the Treasury plan architect
Lol, just log on to the dark net... plenty more there
Or go traditional and read Brothers Grimm
All fairy tales that scare children...
Yup, Fairholme plaintiff - all preferred, what will they ask for in a settlement? Hmmmm?
Lol, Mossad stops conversion? Seems likely
Boooom time is after settlement and SPSA amendment, I believe... some time in 1st half of 2020, though maybe more towards end of 1st half
OR Calabria has sabotaged the RnR for his TBTF masters by slow walking everything, he would make a name for himself -- though I am not sure who would want that name...
lol, going to be 10%+ on Monday...
Probably see the effect of tax loss selling later in the month as the euphoria dies down about Sweeney going to trial -- the appeals will kill that probably
Oberdictum, thank you -- I hope people understood the implications of what you just laid out for them... Very big points to bear in mind as we go forward.
Correct, a big year in 2020, but punctuated by a LOT of volatility...
Just got to keep the end point(s) in view and play the angles if you can
Treasury/FHFA and plaintiffs will settle, not myself, who are those plaintiffs? There is your answer...
Flattening the capital structure is good, so don’t worry
BTW I hope all the Sweeney haters here have apologized?
Judge Margaret Sweeney has integrity, experience and won't be cowed -- government's worst nightmare
Going slow, avoiding appeals, and now... all lined up
Rick, I hope, but this shitshow is taking so long I think people need more before they jump in now...
She COULD, does not mean she WILL
Really? You need to read the actual judgement first...
Give it a week, then meg-dump before Xmas imho
Same pattern as last year...
Where you going?
Friday run up = leak of Sweeney news
Pretty clear the Sweeney news leaked and someone bought
Want to bet Treasury appeals the Sweeney ruling?
I hope all the stalling is a tactic in settlement talks, but it sure looks like someone is either (a) slow walking whole RnR or (b) Treasury wants to try its luck in every legal avenue before it settles...
If (b) at what point does Treasury say enough? Presumably SCOTUS decision? Treasury presumably won’t want Judge Atlas to rule or to go to trial, and verdict, in Lamberth and now Sweeney courts
One wonders if Treasury and plaintiff talks have started, and what has been demanded to begin. Sweeney decision surely favors plaintiffs in those talks one hopes
Could go to June for resolution of SPSA, settlement all at once