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Ding! We've got a winner, folks! Great post!
Was cnbc reporter at the meeting and / or hearing yesterday? Anyone see his report on tv? Or know anything about his whereabouts yesterday?
Is 6/23/13 motions hearing date correct? If it already happened, i wonder why it's listed as the last thing on the document, when otherwise everything else is listed in chronological order with yesterday's hearing being 2nd to last thing listed. Then the June 2013 hearings meeting. Is it a typo? Should it say 2014?
Does this reinforce gvt's keeping cash cow? If there's a serious proposal to buy some of fnma's business, won't that take away the gvt's cash cow? Won't gvt be encouraged by this offer to continue sucking $ out of the GSEs? Hard to imagine this administration being very willing to give such a huge business over to private sector, when they clearly believe all things should be run by the gvt. Hard to imagine them caring about potential court results, when supremes keep giving them whatever they want regardless of constitutionality. I'm just throwing questions out there to ponder. I do think this is good news because we've heard for a while now that hedges are proposing to buy fnma, but this is the first report with any additional level of detail (even if it is not a fully-formed or signed proposal). If / when such a deal is ever signed, wow, I'd be happy. I don't immediately see how commons could be screwed in this scenario. Devil's in the details though.
A book called "mobs, messiahs, and markets" is something you might like. For traders, it's nice because it really rips away all the pretenses that most people have about the "goodness" of gvt, certain movements and such, and also exposes some important truths behind a few historical events that help illustrate the sad fact that, as we should all know by now, most gvts are basically like mobs. They're just like gangsters. Even (especially?) ours. It's a very entertaining and enlightening book that points out that especially those leaders who pose as "world improvers" of some sort are the ones to really look out for! It gets into some examples of rigging of markets, too. Basically, had I not read that book, I might've been surprised when I read Epstein's work last July. But I wasn't surprised by anything except certain details and the fact that hardly anyone in the media or amongst regular people seems to understand who blatant and huge the theft was with FNMA.
Exactly. Shareholders weren't involved, as they should be. By law, making such a huge business decision must be run by the shareholders, correct? Theft, DC style. Thugs, I tell ya. They're still there infecting the capital of a once great nation.
Courts will have their say. But then, courts ruled recently that the gvt can force people to buy something not in exchange for exercising a privilege, like insurance for driving, but just because one is alive. That's Theft of individual liberty to choose not to enter into commerce. So Who knows what courts will do? I suspect they've all been co-opted by the entities behind this 13 yrs ongoing gvt siege of liberties.
Takes $to a P.R. Agency to get covered on news! Yup, media is on the take just like everyone else. Turn on the news and you're mostly hearing paid advocates disguised as something else. Anyway, maybe shareholders can pony up $ to get Epstein plastered all over media?
I recall some of us discussed Epstein's work last July. I heard and read all his GSE comments around that time (the audio files of his speeches at the Hoover institute, etc), and i was greatly encouraged to keep holding after getting familiar with his arguments and information. i'm so glad this had appeared on the board again and that many are learning more about what's really happening here!
If anyone wants to hear more of his work, go to soundcloud.org (or is it .com?) and search for Epstein and Hoover Institute. There are 2 audio files of him talking about all of this. Also, he appeared as a guest on the John Batchelor radio show in July as well. You can find that online too. It's an hour long I think.
Divis? How bout rebuilt capital first? Depending on whatever reserve requirements are in place after GSE reform and / or gvt decision and / or release from cship, it could take 2-3 yrs to build up the reserves. I'd probably hold most of my shares through that myself. But does anyone realistically imagine a result that restores divis anytime sooner than rebuilt capital?
Thanks for your time and info again Obit. I'm sure you get more questions here than you can answer. But we all appreciate when you do weigh in. I'm not ever offended when someone here doesn't answer a question I pose. I hope you at least don't feel burdened by our questions, and that you are enjoying most of your Ihub exchanges, because we love your well-informed straightforwardness. This ticker's a doozy, however it ends up.
But shareholders weren't consulted before signing HERA 2008. That fact alone could give shareholders standing, I would think. Even if the effect of HERA itself removes standing from regular shareholders, it was an agreement entered into without shareholder input, as would normally be necessary for such large "business decisions". Evidence that shareholders were deliberately kept out of the decision can be found in Paulson's book. Plus Timmy G and : Bernanke were telling shareholders that the GSEs are sound just before they engineered the theft we are all dealing with. Plenty of legal standing should logically exist for regular GSE shareholders.
Suppose they pass reform to dissolve GSEs. Over the 5 years or so, that that would take, would shares still be allowed to be traded? And if so, will we see presidential speeches and artificial "technical problems" every 3 months, on every earnings day, for the next 5 yrs?
In other words, it seems extremely difficult for a 5 year wind down to work while the shareholders are still trading shares. Yet how can "they", as of today, shut down trading of GSE shares as part of any reform? At some point in the process, the shareholders would / will almost have to be compensated if / when trading is stopped. Correct me if i'm missing something. I know politicians can invent any ridiculously unconstitutional laws they want to these days. But if the constitution holds up during any reform, GSE shareholders should get some value out of their shares.
We're a democratic republic. not straight democracy. Remembering that is key. A straight democracy doesn't protect people's rights. Majority can vote to steal from minority. Our democratic republic, constitutional republic, (supposedly) protects minority rights like right to property. Politicians today would LOVE for us to all lazily think we're a straight up democracy. That gives them more leeway to steal from us. But we have majority rule with minority rights. Hence 5th amendment to constitution is relevant to us fnma holders today.
Couldn't agree more with your posts today fb22. Some are quite intentionally buying houses on credit because they foresee the eventual acceleration of all the QE $ into other markets, and that "they" will not stop QE-ing for years (a taper is just a slowdown of QE). Thus, these homebuyers will be paying off their houses with monopoly money (very inflated dollars).
I can't say i disagree with those buyers. But the risk of another bubble collapse also exists.
Sadly, J, freedom's dying rapidly here in the U.S. The last 15 yrs have seen horrible blows to personal and economic freedom here. Thanks for the kind words about our nation! But let's all hope our nation starts to live up to those words very soon. But that is unlikely.
Interesting. But Even if he sees the gvt and taxpayers as the majority shareholders (and that's questionable, right?, since the gvt can only exercise those warrants in the event fnf can't pay the dividends), then wouldn't it still be violating his fiduciary duty if he pursues a course that only protects the majority shareholder (which in his view is that taxpayers), and doesn't protect every shareholder?
The CME sadly seems to be a week agency co-opted by banks. They have a tiny staff for conducting investigations like the one into JPM's alleged (ahem) manipulation of the silver market. What d'ya know, the CME found no reason to continue that investigation, even though lots of suspicious activity took place last spring in silver and gold markets.
Anyone know why Demarco signed 3rd amendment? It's obviously against his fiduciary duty as conservator to sign such an agreement.
Intentional. How many Fortune500s are on OTC? You nailed it regarding twitter IPO. That coincidence combined with the two GSEs reporting earnings on the same morning is all we need to know that whole day was one huge manipulation. Now imagine; if that was manipulation, then what kind of entities do we think could coordinate such a huge thing? And that is a hint of what we longs are up against. Any group who can do that can certainly get to a judge, for instance.
Shareholders should sue him, yes. He is absolutely conducting his business in a way that is directly contradicting his fiduciary duty. He says he wants to wait until DC has decided what to do with GSEs. But the GSEs are profitable, etc. time to let them go. Only argument to the contrary would be to wait until they've built up enough reserves. But Demarco's not making that argument as he delays release. So sue him.
Nailed it. Our best hope is a court vacating the 3rd amendment, which turned a bad deal into a Corleone-type deal that is illegal prima fasci.
Hey general. I've been planning to try some more scalping. Been paper scalping for a while. Trying different things. Hopefully by the time I have enough capital to really start scalping for real, i'll have a good system down. I'd appreciate any insight you'd be willing to share. How are you reliably finding your momo tickers, for instance? Or is there some indicator or news watch you prefer to use? Thanks.
We're all on the same side here, at least! No offense intended.
So no power and special interest groups were ever on her side? Helping to fund her campaign? Are we supposed to think she was just a regular joe funded exclusively by regular citizens when she ran? Have you looked into who her biggest donors are, by any chance? She might be on our side on this FnF issue here, but don't let that fog our objective judgement about her. She's just a politician who's as crooked as the rest of them. They are all paid advocates who do the work they are told to do by their donors. They are nothing more than that, sadly, even if they dress themselves as such.
You've mentioned a profound thing. I've said the same many times, regarding the money changers. Of course, The specific entity that is the same as the money changers is the Fed, not Congress, per se. But in 1913 Congress (illegally) "sub contracted" the Fed to do that monetary policy job that the Constitution exclusively gives to Congress. So in a way it's both. One doesn't have to be a religious person to understand the historical importance regarding money changers or even why they were so hated back in biblical times. Money changers do not PRODUCE anything. They only TAKE. And for the last 100 years, they've been running our dollar into the ground, sucking every ounce of wealth out of the average citizens as possible. We are where we are today ($17 tril in debt) mainly because of them. It's very interesting to understand that the entity that has destroyed our dollar is basically the same one that caused so much anger in biblical times.
True but gvt hyped their profit in AIG and other TBTFs as a wonderful thing! And the media and people just accepted it.
I wonder- $5 threshold for big $ could be what the gvt-aligned manipulators are really afraid of. Just throwing out thoughts here. If $5 is reached again, more big money institutional investors might jump in. And if that happens, there'd be increased pressure, which could force the gvt into taking a route they don't want to take. Perhaps all the eve-of-earnings prez speeches and day-of market glitches are designed specifically to avoid another run beyond $5. If that's true, maybe $4.50 is a good target area for flippers.
Gvt keeps price down, helps their settlement negotiation position. They'll settle based on current market cap, if they settle. So of course they want to keep pps down. If it wasnt otc crash it would have been another hastily written half butted speech by prez man himself today or yesterday.
Even congress can't make illegal laws. That doesn't ever seem to stop them, however.
Same as aug 6 2013. Prob not coincidence.
Cloward / Piven much, mr. Prez?
Well there's a prominent Dem who'd eliminate GSEs. We've had Reid who wouldn't. Warner who wouldn't, and prez who hasn't said clearly other than hinting he'd go along with eliminating the GSEs. I would think the Dems would not be for eliminating them. But it appears that there's no certainty where they stand.
That's very quaint, thanks! I certainly hope the judicial, at least, just rules on the law and doesn't go trying to legislate from the bench, as it often does.
I've always found it funny that even though every seller must have a buyer, and therefore every sale is both a buy and a sell, we can still use terms like "oversold" and "overbought" and they still somehow do make perfect sense.
There's enough comedy in fnma to go around. The ticker gives those of all political stripes something to think about, or complain about.
Ah when you put it that way it rang a bell. I do recall something along those lines. But I'd appreciate if anyone could point me to the relevant section of the agreement if anyone has that info available. Thanks.
So treasury would have to give up warrants if $180bil is paid back? I've never heard that before and didn't see it in the documents. Where can I verify that? Thanks.
This #2 point is one I've never read a satisfying answer to. It must be a very key argument in the preparation of the suits, I assume. Talk about having your cake and eating it too... The gvt got its cake and will eat it, as well as eating our cake, if it can get away with that #2.
Question For those glad Watt seems finished: shouldn't we assume that whomever the prez nominates will be told to do the exact same thing with FnF as Watt would have done had he been confirmed?
So then we should hope for a much longer stalemate on that post, shouldn't we? Even if the next nominee gets confirmed, he or she will have been selected by the prez for the same reasons Watt was; that he will do the prez's bidding on FnF.
That was a hilarious post. Thanks. Champion of the middle class? Well we can all see what's happened to the middle class since 2009 and it's an ugly sight. So he might be playing the game the way you surmised. That'd be good for us. one can objectively say that the Dems are more likely to support FnF. But the prez is generally left of that kind of conventional liberalism. For all we know, he could be shooting for something more like a more permanent nationalization. And we'll have to wait until they pass that law before we can see what's in it, as they've done before.