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"The government-controlled mortgage servicer is now suffering from an embarrassment of riches." Lets "wind down" the rest of the Fortune 500.
That is an outstanding website. So there could be a move to cannibalize Fannie and Freddie to help the Banks repay TARP funds? And This: http://projects.propublica.org/bailout/programs/10-preferred-stock-investments Shows the Prefered Stock Investment/PSI of the 187.5B as unpaid.
Could be a cyber-girl/guy program designed by Putin to manipulate message boards for the FnF's?
Thank you Pat Toomey...
"But under the most severe forecast--in which home prices would plunge 25% over nine quarters"!?! How about a little built in incentive for the feds to not screw up the economy as they are so adept at doing?
Posted to Ted Cruz and John Thunes Facebook page, you guys think of some other Senators and spread the word.
Freddie estimates that mortgage rates under the legislation could rise by as little as 0.1 percentage
"And, if you like your Doctor you can keep your Doctor."
Larry, Moe and Curly do mortgage reform.
Reuters) - The head of government-run mortgage financier Freddie Mac has warned the company's regulator that a U.S. Senate bill on housing finance reform could undermine the stability of the mortgage market if it became law in its current form.
Freddie Mac CEO Donald Layton said in an April 16 letter to the Federal Housing Finance Agency, which was obtained by Reuters, that lawmakers should take steps to make sure the company could fulfill its role supporting the mortgage market during any transition period to its eventual closure.
"The risk that Freddie Mac would not be able to carry out its core policy function is extremely high," Layton said. (Reporting by Margaret Chadbourn; Editing by Chizu Nomiyama)
http://www.reuters.com/article/2014/04/25/usa-housing-idUSL2N0NH1BK20140425
Another "Red Line" to ignore.
I like the Heritage Foundation and we need all the advocates against socialism we can get. The balance for Conservatives is that business such as banks are by nature amoral and not necessarily friends of freedom. All I could say to the Heritage Foundation is Government seizing and liquidating the assets of Private Shareholders is not Jeffersonian Democracy.
Whack, whack, whack goes the hammer putting the nails in the coffin of this worthless legislation.
“existing common equity holders will not have access to any positive earnings from the GSEs in the future.” This is straight out of the gilded age of Carnage, Rockefeller and JP Morgan just the sort of Big Boss talk that burns me up. The corrupt feds have picked a fight and in the words of G Dubah, Bring It Ohwnn...
These spikes are machines talking to machines (very SkyNet). Anyone know how many shares actually trade on these spikes?
Just seeing that many pages on a doc. makes me want to buy more shares.
Very funny, makes perfect sense.
This whole downtrend has so much fish smell to it its stinks. If only more folks would see how much manipulation goes on with this stock its like clock work. Stock goes up to decent value, new/old bogus news comes out, sky is falling drop. Fish are skinned, price starts going up, rinse and repeat.
One notable exception is Sen. Pat Toomey (R-PA), who stood up for shareholder rights in a set of pointed questions to Treasury Secretary Jack Lew. For example: “What comfort can you give to private sector investors considering investing in the future of the housing finance system when they believe that the government arbitrarily changed the rules of the game mid-stream?”
The Weekly Standard is a center right publication so this is a new development in the FnF narrative.
"There's a strong argument to be made that the private-sector investors, if they rely on a private-sector system, should be able to count on that," Crapo said in the interview.
Lets see traded previously on NYSE with 100s of millions of shares ** I guess Fanny and Freddie pass the private sector company test and fails the gov-ment sector piggy bank test.
Ouch, Uncle, Uncle!
If I ran Perry Capital there at some point I would take 50-100 Million of my FnF profits and make an infomercial with retired cops, and silver haired grandmothers and have them be the face of FnF shareholders. There are groups and individuals that have been massively burned by the Fed shabby treatment. They take over a company they stuffed with cronies and manipulated with mandates. Then to fix it they take all the revenue like some mafia loan shark while Henserling, Crapo and company have the gall to say "screw you cops and grandmothers were cutting you off!" I'd love to see them squirm against something like this...
I have a hunch this stock will recover rather quickly since the drop was a sham...
This stock will act like someone that had their house broken into with disbelief, anger and frustration. The scum sucking stock manipulators have had their day but this is still a viable and strong company. A least Pat Toomey seems to get the idea that a government "guarantee" doesn't mean they guarantee to come in take over the company, rip the shareholders off do what they want with the proceeds when things go bad . It means they GUARANTEE the investors and shareholders a SAFE HAVEN for their money to attract capital into the system. In the end I hope this fact wins out.
After Tuesday drop there are 2 take away's. One: watch out there are some nasty malware on the IHUB site. Two: there are algorithm programs activated by bottom feeders that will walk down a stock like this after *** a good run up *** any kind of negative news, just enough to cause a stampede as they manipulate the bid and ask. The stock won't drop if people don't fall for the trick.
Analysts said Tuesday that the chances for the bill to make it to the Senate floor this year are low because U.S. lawmakers are turning their attention to election season.
"Broader Democratic sponsorship might be required for it to pass. The House, however, would not likely support this bill even if it were to pass the Senate given that the House Financial Services Committee holds a very different view of how GSE reform should proceed," Bank of America Merrill Lynch analysts wrote in a research note.
There are a couple things here that reaffirm my view on Fannie Mae. First, the Senate bill, like it or not, will probably be DOA (dead on arrival) as we have seen many times over the last few years in Washington. Secondly, the bill has been widely anticipated by analysts and investors which suggests that the market is extremely overreacting. Thirdly, the time-delayed reaction of Fannie Mae's share price raises eyebrows and could hint at the involvement of heavy algorithm-based trading.
seekingalpha.com/article/2082873-fannie-mae-what-to-do-after-yesterdays-plunge?
If a stock truly losses value its volume shrinks down to effectively zero. Since 214,503,556 is bigger than zero I assume a lot of shares exchanged hands. The new owners have some viable reason to purchase therefore the proposed Senate Bill is still only background noise to a lot of new or enlarged shareholders.
This is like May 2013 but more condensed. Nothing has changed its the same physiology. People see it go way up and then think it will go way down but the fundamentals are unchanged from this morning. The difference is shares have traded hands and the hands holding the shares are in the drivers seat.
I'll admit I missed this show but is fun to watch the herd diving over the cliff.
Just put most of my Fnf's shares to on a sell limit at $15.00. Not sure if it still makes any difference but trying to keep them off the short market.
Where is the sale proceeds of the huge amount FnF stocks the feds are sitting on incorporated in this scenario?
I agree the chart shows indecision but I doubt it will do any big pull back without negative news. Positive news means the fuse is lit.
I think it looks more like a dragon fly as the opening and closing price were so close. I would not consider it bearish but cautious.
Hello 5.00 ++ first week of March.
Didn't Martha Stewart end up doing designer drapes from a jail cell for similar insider manipulation and non-disclosure?
It wouldn't be surprising to see it putts around the $5.00 + - range but if it push's past 5.15- 5.25 it will keep going up to 7.00?
It seems to me the whole point of doing the "pennies" is if you don't have millions of dollars to throw around your going to make at best a few bucks on the Dow for thousands invested.
This Martin guy has an impressive resume and the industry shouts growth.
Pennies are the calculated long shot so all the freaking out over .04 going to .039 is ridiculous.
It doesn't take a rocket scientist to see that the company with the most organizational expertise will be able to make a lot of revenue mining/recycling electronic waste.
Whether that EWSI is yet to be seen but as business model its a growth industry.
Definitively on its way to .000000000000000000000000000000000000003
Along with the population demographic time bomb.
After a 300+ point drop in the Dow we're off under 2%?
Boo,Hoo.
Can I have my $100.00 PPS now please. Thank you!