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Looks like the bakery is open early this morning. Here's to hoping it's open all day long...
Nice strong run thru the 2.50s today.
You want bread? Two dollars, NO, three dollars for you! You're pushing your luck, little man!
No Soup For You!!! NEXT... lol
Cmdr, I want to commend you on the bang-up job you've been doing here lately. Top notch!
And got a "no settlement" decision....which, while in appeals, is still not definitive yet.
You continue to ask why former Judge Steele is taking on this case?
Here's your answer and it's simple, so try to understand....
He filed this action to preserve the rule of law and
assert Delaware's commitment to enforce compliance with fiduciary duties, a mainstay of Anglo-American common law and something he's spent his whole life defending, enforcing and preserving.
If you don't think it's personal to him you're clueless.
But then again....
Yep, strong finish for sure. Almost 2 million share at the high side of $2.47 went through in the last 10 minutes of the day. Good way to bring in the weekend and run into next week.
New Fairholme filing. Nothing big, just a Correction to the previous Motion to Quash. Obviously, being SEALED, this is all I have....
10/09/2015 250 **SEALED**Corrected MOTION to Quash , filed by FEDERAL NATIONAL MORTGAGE ASSOCIATION.Response due by 10/26/2015. (Attachments: # 1 Appendix)(Hudson, David) (Entered: 10/09/2015)
Hv, thanks for posting. Good stuff. That is about as close as you can get to having ties (a connection) to the Administration. The babysitter's club...who knew they were such Power Playa's?
Cmdr, thank you very much for your efforts. There you go, straight from the horses mouth, the report exists and is independent from anything tied to Ackman.
I guess Corky's got sum splain'n to do...of wait...he's a senator, they don't splain.
New filing in Fairholme case a few hours ago...
Case 1:13-cv-00465-MMS Document 248 Filed 10/07/15 Page 1 of 2
John W.F. Chesley
Direct: +1 202.887.3788
Fax: +1 202.530.9651
JChesley@gibsondunn.com
Client: 73817-00001
October 7, 2015
VIA ELECTRONIC FILING AND OVERNIGHT MAIL
Hon. Margaret M. Sweeney
United States Court of Federal Claims
Howard T. Markey National Courts Building
717 Madison Place, N.W.
Washington, D.C. 20439
Re: Fairholme Funds, Inc. v. United States, No. 13-465C – Pending Applications of
Certain Counsel Representing Perry Capital LLC, Appellant in Perry Capital LLC v.
Lew, No. 14-5243(L) (D.C. Cir.), for Access to Protected Information, or, in the
Alternative, Motion to Amend the Amended Protective Order
Dear Judge Sweeney:
I write as counsel for Perry Capital LLC (“Perry Capital”). On August 11, 2015, Perry
Capital filed applications for access to Protected Information in Fairholme Funds, Inc. v.
United States, No. 13-465C. The government opposed that request, and briefing was
completed on August 20, 2015. Those applications remain pending.
Perry Capital continues to suffer prejudice as it is unable to access Protected Information that
has been filed in its appeal before the United States Court of Appeals for the D.C. Circuit.
Perry Capital respectfully requests that the Court grant the requested relief at its earliest
convenience; or, in the alternative, that the Court schedule a hearing to allow Perry Capital to
be heard on its request.
Respectfully,
/s/ John W.F. Chesley
John W.F. Chesley
cc: Charles J. Cooper, Esq. (counsel for Plaintiffs via ECF)
Kenneth M. Dintzer, Esq. (counsel for Defendant via ECF)
1
CERTIFICATE OF SERVICE
I certify that on this 7th day of October, 2015, I caused the foregoing to be filed with the
Clerk of the United States Court of Federal Claims using the CM/ECF system. Service was
accomplished on the following persons by the CM/ECF system:
Charles J. Cooper
Cooper & Kirk, PLLC
1523 New Hampshire, NW
Washington, D.C. 20036
(202) 220-9600
Fax: 202-220-9601
Email: ccooper@cooperkirk.com
Kenneth Michael Dintzer
U. S. Department of Justice - Civil Div.
Post Office Box 480
Ben Franklin Station
Washington, D.C. 20044
(202) 616-0385
Fax: (202) 514-8624
Email: kenneth.dintzer@usdoj.gov
Dated: October 7, 2015
Respectfully submitted,
/s/ John W.F. Chesley
John W.F. Chesley
GIBSON, DUNN & CRUTCHER LLP
1050 Connecticut Avenue, N.W.
Washington, D.C. 20036
Telephone: 202.955.8500
Facsimile: 202.467.0539
Counsel for Perry Capital LLC
Case 1:13-cv-00465-MMS Document 248 Filed 10/07/15 Page 2 of 2
It is funny. Almost as funny as the fact we give our money to the Gov't through Pacer just so we can follow the cases that show how they are sealing our money.
Are we having fun yet? haha Good to see you back around.
Corker just made my day!
This is the article Ackman was talking about today on Bloomberg...
per th717 site...
Political Alpha This is the report Ackman referred to:
U.S.: White House Looking into Ending GSE Conservatorship
October 5, 2015
Multiple sources have confirmed that the White House has reached out to the housing finance community to better understand its options on what to do with the GSEs after conservatorship. As we told you in our 9/14 note, “U.S.: Congressional Outlook for Finance and Tax,” with no chance for comprehensive GSE reform before 2017, the Administration is working behind the scenes to develop an endgame before President Obama leaves office. This could have major implications for the GSEs capital structure.
It’s All about Affordable Housing
With GSE reform stalled, we’ve been told that the Administration is afraid of what will happen to the affordable housing mandate should a Republican take office in 2017. Their fear is that a new Republican president could simply wind down the GSEs and kill the affordable housing mandate if the GSEs were to remain in conservatorship. Therefore, the White House wants to better understand its options as it looks to preserve the affordable housing mandate into the next Administration.
Moreover, the Administration is also trying to front-run any resolution to the current litigation so they can better control the outcome.
Retaining Capital
To maintain the affordable housing mandate, the Administration is looking at options to ensure that Fannie and Freddie are viable companies after being released from government control. While the discussions are just beginning, one of the options seriously being discussed is the possibility of recapping the GSEs.
Most importantly, terminating conservatorship would end the GSE profit sweep under the preferred stock purchase agreements. This will allow Fannie and Freddie to retain its own capital once again.
Bottom Line
The Administration is in the very early stages of looking at various options to end the GSEs conservatorship. This is a major shift in thinking as it would entail ending the GSE profit sweep allowing Fannie and Freddie to begin to retain capital. While we have been told the Administration is not close to deciding how to proceed, the initial announcement of the White House’s intent would clearly be beneficial to the entire capital structure of the GSEs.
This message is intended only for the personal and confidential use of the designated recipient(s) named above. If you are not the intended recipient of this message you are hereby notified that any review, dissemination, distribution or copying of this message is strictly prohibited. Reproduction or editing by any means, in whole or in part, or any other unauthorized use, disclosure or redistribution of the contents without our express written permission is strictly prohibited. This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product, an official confirmation of any transaction, or as an official statement of this organization. Email transmission cannot be guaranteed to be secure or error-free. Sources for the information herein are believed to be reliable but we do not guarantee that this information is complete, timely or accurate and it should not be relied upon as such. Political Alpha undertakes no obligation to provide you with any additional or supplemental information or any update to or correction of the information contained herein and shall not be liable for any loss or damages resulting from the use of the information contained in the report, or for errors of transmission of information, or for any third party claims of any nature including claims for your reliance upon this material. All information is subject to change without notice.
Contact Information
Andrew Taylor
Director of Research
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Email: ata...@politicalalpha.com
Let's see a strong last 10 minutes. $2.44 close?
Hv, has Ackman already spoken earlier this morning? If so, what did he have to say? If not, do you know what time he is on?
TIA
Thanks hv. It could be Bill talking his book to other HF. I've checked the various court dockets and nothing so far on FnF, Starr, ect...
Somebody knows something...there much is for sure.
Thanks Glen. Where does it state it's a motion to quash a subpoena though?
Yes. Here's a link to the claim/suit if you want to take the time to read it.
Jacobs et al v. FHFA (FnF)
Thanks for the heads up on this event. I hope it will be webcast like most of their events.
I want to see what Bob Ryan, Acting Deputy Director of the Division of Conservatorship, FHFA has to say. He doesn't speak much, but he is a bigger player in the conservatorship than most realize, at least imo. My guess is Watt relies on him quite a bit. I've always thought he didn't think it was necessary to completely do away with FnF, just make some of the behind the scenes reform moves that we are seeing. His thoughts on reform include...
1. QM...strong underwriting and defined credit box....done/working on.
2. Build Capital...4-5%, maybe less with the current quality of loans FnF are doing now. Cap. requirement should not be legislated. They should be set by the regulator. (Hopefully this step happens soon.)
3. Make it an explicit guarantee and set up an insurance fund. (I'm OK with that as long as it doesn't eliminate FnF, let them pay a % for the govt. guarantee.)
4. Reduce/eliminate investment portfolios. No problem with that as long as they don't give them away to Wall Street for pennies. Get the true value out of them.
5. Strong, independent, transparent regulator. I'm okay with that, as long as it is truly independent and transparent. With our congress and BO, not sure it's gonna happen though.
6. More competition in the guarantor space. Working on that now with CSP. As long as FnF get fair value for what they rightfully own. I'm still very concerned they will get it away for free or pennies on the dollar because they fell they need to be aggressive in getting other players competing with FnF.
I'll be interested to see what Ryan (and others) have to say about these topics. It should be a good barometer of where we are headed and how much input he actually has with Watt's plan (although whatever happens to FnF is really not Watt's plan, it's just whatever the folks that have his ear convince him to do.) for FnF over the last few years and moving forward.
It should, and yes, it would. ;)
In Delaware, FHFA's bringing in the big guns, with Paul Clement. He's a powerful lawyer. I'm hopeful Myron Steele can handle any tricks he might have up his sleeve though.
I believe just about every other case of importance (if not all) will be included in this stipulation.
Paula, Judge Sweeney just ordered that "any and all" discovery information could be shared with all other court cases challenging the new worth sweep. Even though the defendants (Govt) objected to this initial request by the plaintiffs (Fairholme) Judge Sweeney didn't even bother to go back and discuss it with them (Govt) as she found that the request very much had merit!
Good news for our side! One small step in the right direction.
I agree Cmdr. We are 100% in the right here, but don't forget, as Prof. Epstein stated, even if the law is 100% on your side, when you challenge the USA in the court of law, your chances of winning are 50-50 at best!
While I like our chances as well as Judge Steele being on our side, I still don't trust our legal system 100%. Hopefully the biggest difference between Judges Sleet and Steele is only a l and t and an extra e!
Way to go Margaret! Finally, one for the good guys.
Yes, the US has 60 days (peons like us only get 21) to respond to the Summons that was served them on 8/17/15, so, they must respond no later than 10/16/15. If they failed to respond (which would never happen, as we can see by their motions) judgment by default would be entered against them for the relief demanded in the complaint.
So far it looks as though FnF (FHFA/UST) has assigned the following lawyers to represent them....Asim Varma, David B. Bergman, Howard N. Cayne (all, So Ordered by Sleet), D. Zachary Hudson and Paul D. Clement (awaiting Order), but I'm guessing there'll definitely be more in the near future.
Here's the complete Civil Docket for the case (#: 1:15-cv-00708) as of today. I hope it helps.
08/17/2015 1 COMPLAINT filed with Jury Demand against Federal Home Loan Mortgage Corporation, Federal Housing Finance Agency, Federal National Mortgage Association, United States Department of the Treasury - Magistrate Consent Notice to Pltf. ( Filing fee $ 400, receipt number 23934.) - filed by David Jacobs, Gary Hindes. (Attachments: # 1 Acknowledgement of Consent Form, # 2 Civil Cover Sheet)(nmb) (Entered: 08/18/2015)
08/17/2015 2 Notice, Consent and Referral forms re: U.S. Magistrate Judge jurisdiction. (nmb) (Entered: 08/18/2015)
08/17/2015 Summons Issued with Magistrate Consent Notice attached as to Federal Housing Finance Agency, United States Department of the Treasury, U.S. Attorney and U.S. Attorney General on 8/17/2015. (nmb) (Entered: 08/18/2015)
08/18/2015 Summons Issued with Magistrate Consent Notice attached as to Federal Home Loan Mortgage Corporation on 8/18/2015; Federal National Mortgage Association on 8/18/2015. (sar) (Entered: 08/18/2015)
08/19/2015 3 SUMMONS Returned Executed by David Jacobs, Gary Hindes. Federal Housing Finance Agency served on 8/17/2015, answer due 10/16/2015; United States Department of the Treasury served on 8/17/2015, answer due 10/16/2015. (Kelly, Christopher) (Entered: 08/19/2015)
08/19/2015 Case Assigned to Judge Gregory M. Sleet. Please include the initials of the Judge (GMS) after the case number on all documents filed. (rjb) (Entered: 08/19/2015)
09/02/2015 4 AFFIDAVIT of Service for Summons, complaint, civil cover sheet and notice, consent and reference to a Magistrate Judge served on The Federal Housing Finance Agency; The Federal National Mortgage Association; The Federal Home Loan Mortgage Corporation, Attorney General of the United States on 8/17/15 and 8/18/15, filed by Gary Hindes, David Jacobs. (Attachments: # 1 Exhibit A-D)(Pittenger, Michael) (Entered: 09/02/2015)
09/09/2015 Summons Reissued with Magistrate Consent Notice attached as to United States Department of the Treasury. (klc) (Entered: 09/09/2015)
09/25/2015 5 MOTION for Pro Hac Vice Appearance of Attorney Asim Varma - filed by Federal Housing Finance Agency. (Maddox, Robert) (Entered: 09/25/2015)
09/25/2015 6 MOTION for Pro Hac Vice Appearance of Attorney David B. Bergman - filed by Federal Housing Finance Agency. (Maddox, Robert) (Entered: 09/25/2015)
09/25/2015 7 MOTION for Pro Hac Vice Appearance of Attorney Howard N. Cayne - filed by Federal Housing Finance Agency. (Maddox, Robert) (Entered: 09/25/2015)
09/28/2015 SO ORDERED, re 6 MOTION for Pro Hac Vice Appearance of Attorney David B. Bergman filed by Federal Housing Finance Agency, 5 MOTION for Pro Hac Vice Appearance of Attorney Asim Varma filed by Federal Housing Finance Agency, 7 MOTION for Pro Hac Vice Appearance of Attorney Howard N. Cayne filed by Federal Housing Finance Agency. Ordered by Judge Gregory M. Sleet on 9/28/2015. (asw) (Entered: 09/28/2015)
09/29/2015 8 MOTION for Pro Hac Vice Appearance of Attorney D. Zachary Hudson - filed by Federal National Mortgage Association. (Stearn, Robert) (Entered: 09/29/2015)
09/29/2015 9 MOTION for Pro Hac Vice Appearance of Attorney Paul D. Clement - filed by Federal National Mortgage Association. (Stearn, Robert) (Entered: 09/29/2015)
Don't have that info yet, but I do see where (yesterday) FnF asked for DC lawyers to be able to represent them (Pro hac vice) in Delaware court. They are D. Zachary Hudson and Paul D. Clement of Bancroft PLLC in DC.
Document 8....
RLF1 13085843v.1
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
DAVID JACOBS and GARY HINDES, on
behalf of themselves and all others similarly
situated, and derivatively on behalf of the
Federal National Mortgage Association and
Federal Home Loan Mortgage Corporation,
Plaintiffs,
v.
THE FEDERAL HOUSING FINANCE
AGENCY, in its capacity as Conservator of the
Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation, and
THE UNITED STATES DEPARTMENT OF
THE TREASURY,
Defendants,
and
THE FEDERAL NATIONAL MORTGAGE
ASSOCIATION and THE FEDERAL HOME
LOAN MORTGAGE CORPORATION,
Nominal Defendants.
Civil Action No. 15-CV-708
MOTION AND ORDER FOR ADMISSION PRO HAC VICE
Pursuant to Local Rule 83.5 and the attached certification, counsel moves the admission
pro hac vice of D. Zachary Hudson of Bancroft PLLC, 500 New Jersey Avenue, NW, Seventh
Floor, Washington, DC 20001 to represent the Federal National Mortgage Association in this
matter.
Dated: September 29, 2015 /s/ Robert J. Stearn, Jr.
Wilmington, Delaware Robert J. Stearn, Jr. (No. 2981)
RICHARDS, LAYTON & FINGER, P.A.
One Rodney Square
920 North King Street
Wilmington, Delaware 19801
Telephone: (302) 651-7700
Case 1:15-cv-00708-GMS Document 8 Filed 09/29/15 Page 1 of 2 PageID #: 82
RLF1 13085843v.1
CERTIFICATION BY COUNSEL TO BE ADMITTED PRO HAC VICE
Pursuant to Local Rule 83.5, I certify that I am eligible for admission to this Court, am
admitted, practicing and in good standing as a member of the Bars of the District of Columbia
and Ohio and pursuant to Local Rule 83.6 submit to the disciplinary jurisdiction of this Court for
any alleged misconduct which occurs in the preparation or course of this action. I also certify
that I am generally familiar with this Court’s Local Rules. In accordance with Standing Order for
District Court Fund effective March 25, 2014, I further certify that the annual fee of $25.00 has
been paid to the Clerk of Court.
Date: September 29, 2015 /s/ D. Zachary Hudson
D. Zachary Hudson
BANCROFT PLLC
500 New Jersey Avenue, NW
Seventh Floor
Washington, DC 20001
Telephone: 202-234-0090
Counsel to Federal National Mortgage Association
ORDER GRANTING MOTION
IT IS HEREBY ORDERED counsel’s motion for admission pro hac vice is granted.
Date: _________, 2015 __________________________________________
THE HONORABLE GREGORY M. SLEET
UNITED STATES DISTRICT JUDGE
Case 1:15-cv-00708-GMS Document 8 Filed 09/29/15 Page 2 of 2 PageID #: 83
Document 9....
RLF1 13085837v.1
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
DAVID JACOBS and GARY HINDES, on
behalf of themselves and all others similarly
situated, and derivatively on behalf of the
Federal National Mortgage Association and
Federal Home Loan Mortgage Corporation,
Plaintiffs,
v.
THE FEDERAL HOUSING FINANCE
AGENCY, in its capacity as Conservator of the
Federal National Mortgage Association and the
Federal Home Loan Mortgage Corporation, and
THE UNITED STATES DEPARTMENT OF
THE TREASURY,
Defendants,
and
THE FEDERAL NATIONAL MORTGAGE
ASSOCIATION and THE FEDERAL HOME
LOAN MORTGAGE CORPORATION,
Nominal Defendants.
Civil Action No. 15-CV-708
MOTION AND ORDER FOR ADMISSION PRO HAC VICE
Pursuant to Local Rule 83.5 and the attached certification, counsel moves the admission
pro hac vice of Paul D. Clement of Bancroft PLLC, 500 New Jersey Avenue, NW, Seventh
Floor, Washington, DC 20001 to represent the Federal National Mortgage Association in this
matter.
Dated: September 29, 2015 /s/ Robert J. Stearn, Jr.
Wilmington, Delaware Robert J. Stearn, Jr. (No. 2981)
RICHARDS, LAYTON & FINGER, P.A.
One Rodney Square
920 North King Street
Wilmington, Delaware 19801
Telephone: (302) 651-7700
Case 1:15-cv-00708-GMS Document 9 Filed 09/29/15 Page 1 of 2 PageID #: 84
RLF1 13085837v.1
CERTIFICATION BY COUNSEL TO BE ADMITTED PRO HAC VICE
Pursuant to Local Rule 83.5, I certify that I am eligible for admission to this Court, am
admitted, practicing and in good standing as a member of the Bars of the District of Columbia,
Virginia, and Wisconsin and pursuant to Local Rule 83.6 submit to the disciplinary jurisdiction
of this Court for any alleged misconduct which occurs in the preparation or course of this action.
I also certify that I am generally familiar with this Court’s Local Rules. In accordance with
Standing Order for District Court Fund effective March 25, 2014, I further certify that the annual
fee of $25.00 has been paid to the Clerk of Court.
Date: September 29, 2015 /s/ Paul D. Clement
Paul D. Clement
BANCROFT PLLC
500 New Jersey Avenue, NW
Seventh Floor
Washington, DC 20001
Telephone: 202-234-0090
Counsel to Federal National Mortgage Association
ORDER GRANTING MOTION
IT IS HEREBY ORDERED counsel’s motion for admission pro hac vice is granted.
Date: _________, 2015 __________________________________________
THE HONORABLE GREGORY M. SLEET
UNITED STATES DISTRICT JUDGE
Case 1:15-cv-00708-GMS Document 9 Filed 09/29/15 Page 2 of 2 PageID #: 85
PLAINTIFFS’ MOTION FOR GENERAL LEAVE TO FILE DISCOVERY MATERIALS UNDER SEAL IN OTHER LITIGATION CHALLENGING THE NET WORTH SWEEP
Case 1:13-cv-00465-MMS Document 245 Filed 09/29/15 10AM Page 1 of 3
IN THE UNITED STATES COURT OF FEDERAL CLAIMS
FAIRHOLME FUNDS, INC., et al., )
)
Plaintiffs, )
) No. 13-465C
v. ) (Judge Sweeney)
)
THE UNITED STATES, )
)
Defendant. )
PLAINTIFFS’ MOTION FOR GENERAL LEAVE TO FILE DISCOVERY MATERIALS UNDER SEAL IN OTHER LITIGATION CHALLENGING THE NET WORTH SWEEP
On September 4, 2015, this Court granted Plaintiffs leave to file certain Protected Information under seal in other litigation challenging the Net Worth Sweep. Doc. 240, at 2. Specifically, the Court authorized Plaintiffs to file under seal the materials identified in Plaintiffs’ motions to remove the “Protected Information” designations from various materials produced in discovery. See Docs. 148, 162, 165, 166, 169, 170, 171. In the weeks since Plaintiffs filed those motions, they have identified additional materials that they believe other courts considering challenges to the Net Worth Sweep would find useful. Rather than identifying those materials here and filing additional such motions as Plaintiffs continue to review discovery materials, Plaintiffs move for general leave to file any and all Protected Information under seal in other litigation challenging the Net Worth Sweep. The Court previously granted Plaintiffs general authority to file Protected Information in Plaintiffs’ suit in the D.C. Circuit and D.D.C. Doc. 212 (July 21, 2015). For the same reasons, the Court should also grant Plaintiffs general authority to file Protected Information under seal in other cases that concern challenges to the Net Worth Sweep.
Plaintiffs consulted opposing counsel, and the United States opposes this motion.
1
Date: September 29, 2015 Respectfully submitted,
Of counsel:
Vincent J. Colatriano
David H. Thompson
Peter A. Patterson
Brian W. Barnes
COOPER & KIRK, PLLC
1523 New Hampshire Avenue, N.W.
Washington, D.C. 20036
(202) 220-9600
(202) 220-9601 (fax)
s/ Charles J. Cooper
Charles J. Cooper
Counsel of Record
COOPER & KIRK, PLLC
1523 New Hampshire Avenue, N.W.
Washington, D.C. 20036
(202) 220-9600
(202) 220-9601 (fax)
ccooper@cooperkirk.com
2
CERTIFICATE OF SERVICE
I hereby certify that a true and accurate copy of the foregoing was served upon all counsel of record on this 29th day of September, 2015, via the Court’s Electronic Case Filing system.
s/ Charles J. Cooper
Charles J. Cooper
3
No, actually just the opposite. Discovery has been EXTENDED for another 4 months (Dec. 31st) and it wouldn't surprise me to see it extended further. Time will tell.
Watch Bethany's interview on Chicago Tonight, link below...
New Book Examines Risk of Mortgage Giants Fannie Mae and Freddie Mac
Glad to see the press junket calendar for Bethany's book is filling up out into November!
I'm hoping she'll "persuade" her husband to reach out to some of his ex-working buddies at the DOJ to find the real scoop regarding our legal cases. ;)
Ding, ding, ding....winner, winner, chicken dinner!
"You catch more flies with honey...."
And the "package" she is presenting it in is perfect for this time. She comes across as very knowledgeable, but in a common sense way. She is Elizabeth Warren, meets Jackie O, meets June Cleaver. No one can rightfully attack her. Congress won't touch her imo. She's exactly what we need to counter attack the "bad guy Hedge Fund betters" image that Congress and the Media spew about us. Did you see the way the female writer from Time magazine that asked a question seem to want to/connect to her. Priceless. Man, I hope Bethany can carry this torch for the next few months at least!
There's a reason the "fake" timhoward717 isn't on board yet or never talks about something as fact until it is proven. It's because he has little clue to what is really going on and he uses it as his cover so his followers don't catch on.
I know he serves a purpose for rallying the troops with his rah-rah, but he really has no insight or inside info. He uses some of his much smarter and informed commenters to create the image that he's the one with all of the knowledge. Every time someone writes something with substance (ie..David Fiderer) he attaches himself to those thoughts/facts after the fact and says he has known this or predicted this all along. But, the real fact is he rarely if ever has produced anything before someone else with real intelligence or knowledge has, other than conspiracy theories that is. The fake is nothing more than a BS artist with a bad case of "me monster-itis". Don't get me wrong, his sight does provide some good insight/info, it's just that the fake author is not the one actually providing it, as he so desperately tries to convince everyone of. Read his blogs. They usually consist of 75% copying something that someone with real knowledge said and 25% of "I knew this all along, but didn't want state it first as to tip off our adversaries, but know is the right time to reveal it" BS.
955, this is not directed at you, but there are many out there that take the fake th717's word as gospel and it is so far from that. Hopefully some will come to realize this and take him for what he is.
hv, here's a link to the full Charlie Rose interview.
A discussion about Fannie Mae and Freddie Mac with Bethany McLean, author of “Shaky Ground: The Strange Saga of the U.S. Mortgage Giants,” and Bill Ackman of Pershing Square Capital.
I've watched Charlie for many years and he is usually pretty in tune with the subject matter his quests are discussing, but this interview proves that FnF are a very misunderstood subject as even he seems to not get it an wonders off on other topics with Bill & Bethany. I thought both Bill & Bethany did a great job of getting things back on track and using their limited time wisely.
Yes, they are, and I bet Mclean loves having Ackman by her side throughout this. It's gotta double her exposure and thus book sales I would think.
Nice! Charlie Rose is also part of 60 minutes....hmmm. Come on Ackman & Mclean get Charlie to send you over to 60 minutes for the big show!
Ada, it took place in Sept. 2013. Here's a link to the video.
The Future of Frannie and Freddie: Conservatorship and the Takings Clause
One of the speakers is Randy Guynn. He was actually in the room when Freddie was put into conservatorship. I have spoken with him and he very much hopes that the 3rd Amendment doesn't legally stand. He thinks the 3rd Amendment is a big mistake from a public policy standpoint because if the government can change the terms of a deal in the middle of the FnF conservatorships they could do the same thing in a bank resolution proceeding. Understand, this is coming from a guy that his law firm represents the UST in the AIG litigation and he was involved in representing the FRBNY and UST on the rescue. So, he was somewhat on the other side of the table and even he doesn't think the 3rd should stand. That says all you need to know about the 3rd imo.
I agree. This and the NYU event with Prof. Epstein and Randy Guynn are at the top of my list.
Like I stated earlier, I hope we get some major media coverage out of this. It should help to have Ackman there as the financial media loves to follow his every move. Hopefully Bethany will have him or other heavy hitters with her at her much smaller DC event on Friday, but because of the venue I doubt she will.