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Interesting comment posted on the FHFA's website regarding its proposed rule "living wills" and the request of input.
https://www.fhfa.gov//SupervisionRegulation/Rules/Pages/Comment-Detail.aspx?CommentId=15749
Glen Bradford is beaten up today in his latest article in Seeking Alpha. Actually, I always skip his article and go straight to the comments section.
https://seekingalpha.com/article/4406055-fannie-ceo-wants-to-attract-risk-capital-to-protect-taxpayers
Fanniegate hashtag is getting more interesting each day.
The warrant affects the share price since day 1, because the UST is deemed to beneficially own a 79.9% stake under SEC rules regardless of being exercised.
That's why FnF report earnings on a diluted basis and why the lawsuit brought by Washington Federal is so important.
Other theme is that it's a collateral for the SPS, thus, it won't be exercised, but the market isn't aware of this fact due to all the brainwashing by the plaintiffs, the authorities and the accessories that write on internet message boards.
That's not true. If Washington Federal challenges the warrant and the "usurious" conditions in the 2008 Agreements (as part of a Takings claim against the Govt to pursue "public objectives"), which includes the 10% dividend and the initial $1 billion SPS the UST got for free, then those measures are cancelled.
There's no such thing as awarding damages only to WF while the felonies are kept in place.
EARNINGS REPORT ON FRIDAY, FEBRUARY 12TH.
https://apnews.com/press-release/pr-newswire/business-corporate-news-earnings-reports-financial-performance-earnings-1f4a15fbef0f33449e84f5c52729d16d
https://www.fanniemae.com/newsroom/fannie-mae-news/fannie-mae-announces-scheduled-release-fourth-quarter-and-full-year-2020-financial-results
Tim Pagliara has arranged an interview next Tuesday on RealVision, with another hedge-fund manager, @urbanKaoboy in Twitter, a man that claims that the common stocks will be wiped out, talks about "legacy commons" and also said that "a common stock is an option with strike on the JPS's par-value". He is JPS holder.
Both guys are lunatics and our enemies.
Re: Fannie/Freddie-Tim Pagliara and I are going to do a 1-hour live segment with Max Wiethe on RealVision next Tuesday, January 9, at 11 am PST / 2 pm EST on the GSE’s in case anyone is interested. I’m told there will be time for audience questions.
— Michael Kao (@UrbanKaoboy) February 4, 2021
In Scotus, not only the NWS is at stake but the whole conservatorship.
The word most repeated in the last Oral Arguments was "Nationalization".
The 10% dividend is illegal in the Charter's fee limitation.
The warrant, too.
Tim Howard is amicus of the hedge funds. The entire amicus brief had the objective to claim that the SPS are non-repayable, when the law states that the SPS are repaid with each capital distribution (dividend)
Stop echoing the comments from the Mafia!!!!!!!!!!!!
Pagliara wants to steal 97% of our wealth, promoting all the measures that I mentioned that translate into multiple stock offerings and a 97% dilution.
The Govt wants to steal 100% of the companies. So, I prefer being robbed by the U.S. Govt than by the career conman Pagliara based on deception.
Dude, if you don't understand finance, step aside.
Nice post and good words against scammer Pagliara.
We don't care about a BOD representing our interests,but a @FHFA-C breaking the Law & not acting in the best interests of FnF(Inc Power),besides conmen like Pagliara w/ a phony Assoc to harm our interests, promoting:
— Conservatives against Trump (@CarlosVignote) February 2, 2021
10%div
Warrant
Swap P-C
Commtmnt fee
Govt Expl Gtee.#Fanniegate https://t.co/5vjIBxo2tL
They don't allow to talk about stocks trading on the OTC Market, which is insane, because the OTC Market is a Stock Market like anyone else.
The only difference is that the companies have less requirements in that market. Actually the OTC Market-listed companies have no requirements. Not even releasing financial information.
FnF file their quarterly financial statements in the S.E.C..
Hashim Mooppan wasn't the acting Solicitor General. He was just the Assistant AG for the Civil Division. Maybe the head of that division after Hunt quit a few months ago.
Hashim Mooppan was impersonating the Solicitor General in the recent oral arguments before Scotus. The plaintiff and the Amicus called him SG as part of the hoax.
Another crime to add to the list.
The conservator's duty isn't "to seek to make the GSEs safe and sound", but "to put FnF in a sound and solvent condition".
Because the words have a meaning, it isn't the same.
Put means "restore".
Sound condition means recapitalization.
Solvent condition is related to the amount of Debt. In this case, it's reduction of the obligations SPS.
Both coincide with the provision in HERA: Restriction On Capital Distributions, with the exception "reduce the obligations SPS".
This Rule Of Law Guy made it up because he's a conspirator that wants to deceive us.
When shareholders choose a career conman as FHFA's Director candidate, something is rotten.
The former FNMA CFO, Timothy Howard, was indicted in 2006 in a criminal ring to defraud FnF and their shareholders, and he was portrayed as the mastermind, because he accumulated a lot of power without any controls.
The objective of the accounting fraud was to hit the EPS target bonus.
FNMA had to restate 4 years of earnings and pay a fine of 400 millions.
Read the S.E.C.'s press release.
Also the OPHEO's 348-page report.
What's the point in advocating for the release, if he calls for the measures that I have mentioned before, that dilute the existing shareholders at least 97% in their companies?
This is a theft. He's proposing stealing 97% of my wealth in plain sight. He didn't say so in the lastest video, but it's his take since day one and you should know it.
The claim that he is shareholder is misleading. A hedge fund or communtiy bank could have transferred its positions to his Wealth Management firm and he's a simple custodian.
He is a scammer and he has brainwashed you. Read #Fanniegate for daily in-depth analysis.
Tim Pagliara is a conman that wants to rip-off the shareholders. That's why he endoreses the warrant exercised, a conversion of the JPS for Commons, a Govt Explicit Guarantee, Utility Model, a commitment fee and the 10% usurious dividend.
The idea that the DOJ will announce a final resolution of #Fanniegate and not Scotus, caught the plaintiffs by surprise. This is the only analysis that comes out from the abrupt departure of the DOJ's Assistant AG, Mr. Mooppan. A hugely toxic man if you have ever read his briefs, the last oral argument before Scotus and also the last amendment of the SPSPA, that all of them lead to a settlement of the flawed lawsuits (notice that he previously worked for the law firm Jones Day, that is also a plaintiff) and a restructuring case. The plaintiffs and the crazy people that endorse their conspiracy to rip-off the shareholders, like the sociopath GB, HW, etc, will suffer a huge backlash from investors. The announcement is imminent.
I don't see the signatures at the end of the document.
Do you see it signed by the parties, like the others?
Because I don't.
The Letter Agreement wasn't signed by the parties.
Thus, it's invalid and unenforceable.
THERE ARE NO SIGNATURES IN THE LETTER AGREEMENT AS ALWAYS.
It's truly a simple letter and not an agreement.
Scotus will directly rule on the matters because the heart of the matter are the actions by an illegally constituted director under the constitution.
Scotus can strike the whole conservatorship, because the decisions were made by a director without powers.
The Warrant is mentioned by the Washington Federal plaintiffs in their original lawsuit.
With so many briefs in response and appeals, now this claim has been diluted, but not forgotten.
ACG Analytics is funded by John Paulson and Berkowitz. Everybody knows their bias towards the JPSs, aiming at ripping-off the common shareholders amid multiple stock offerings.
They don't move the market. They just do crazy talk.
It's what Moelis was before.
Just like others, like HoldenWalker and Glen Bradford.
Read the news before it happens.First on #Fanniegate.
You always get it.
***BREAKING NEWS*** The shareholders send their PROPOSED ORDER to the Supreme Court, with the expectation that it will be unveiled next Thursday in their scheduled day for opinions.
https://threadreaderapp.com/thread/1348088593005359104.html
$160 billion UST refund +$19b in Moral Damages, secured. Per the #Fanniegate hashtag. Breakdown:
$110b SPS overpayment
$7b Corporate Tax on the settlements (a non-taxable income)
$23b TCCA fees (barred in the Charter's Fee Limitation)
$15b MHA, Foreclosure moratorium and Forbearance programs.
$5b 1.5% on the escrow account.
I think that only Justice Sotomayor had doubts, because she stated in a question to the appellant that the third amendment was "a valid or a reasonable business decision to be entered into". Also she told the attorney that she was reluctant to grant remedies and she only wants to strike the "for cause" removal protection.
Maybe she was just the one chosen among the Justices to play the role of devil's advocate, but later the decision will be unanimous.
Opinions are typically released on Tuesday and Wednesday mornings and on the third Monday of each "sitting" (January 25th)
So, the first day after the Christmas recess is January 12th.
My view is that the whole conservatorship will be struck. Both the FHFA's director and acting director are illegally constituted directors and acting directors under the Constitution, because both have removal protection (if the Acting Dtr is fired for cause, the President can only choose among the 3 Deputy Dtrs chosen, in turn, by the Acting Dtr). So, their actions have been taken without powers.
The Justicies complained about why drawing a line with the 3rd amendment and with Derivative cases instead of a Takings claim, so they were inclined to blow all up from the beginning.
My view is that the FHFA and the Treasury will act beforehand.
January 12th is the first day that Scotus could publish the opinion.
They already made the decision in a meeting that always takes place the Friday of the week where they hold the Oral Arguments. If the decision was unanimous, the opinion is released fast.
After the Christmas recess and under lockdown, one month is enough time to write the opinion by the Justice chosen.
The SCOTUS's opinion is expected on January 12th.
The 5th Circuit Court of Appeals, in the hearing en-banc (judge Willett), stated that the conservator exceeded its powers with the NWS.
Days later, the FHFA and the Treasury approved a 5th amendment to the PA (September 2019), that was an attempt to mislead us, as the NWS still persists (the NWS is paid in-kind with SPSs)
Scotus called it Nationalization, which was clearly a blow to the Court Of Federal Claims, because it's its subject-matter jurisdiction. A Court specifically created to handle theses cases of loss of property value through regulation.
If Scotus rules Nationalization, it would translate into the dissolution of the Court of Federal Claims.
@Ano has been placed into the shareholders' conservatorship.
Due to his multiple mistakes. For instance: claim that
No. ACG did not stimulate anything. They are a replica of Moelis paid by the hedge funds to damage our economic interests.
Calabria called it bankruptcy but he's wrong. So, you aren't doing this board a favor repeating it. A conservatorship isn't a bankruptcy.
He also said that FnF stocks were not trading on the Stock Market.
It's evident that he works for the hedge-funds to rip-off the shareholders and benefit the holders of JPSs.
Good people don't try to rip-off the shareholders, agreeing with the warrant, the 10% dividend, a swap jps for commons, a government explicit guarantee, a commitment fee.
The law states otherwise.
The difference is a common stock worth $270 versus $10.
I will defend our economic interests fiercely.
Glen Bradford and Tim Pagliara are trashed in the comment section of Bradford's latest SA article. There's a discussion with Bradford that ends up with: "You are a weirdo sociopath". The criminal gang that aims at ripping-off the retail investor has been exposed.