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Problem is senators and congressfolk don't actually read mail or email. They have flunkies that write pat responses for nonsensical reasons of stupidity.
I wrote them several years ago and got garbage responses of blah blha blah of nothingness. Like they had no clue what was going on and couldnt care less as their pat responses were jibberish.
But ...
Good luck..
Commons at 100 would be okay.. a little dissapointing after 14 years.. Buts it'll do.
I sort of wonder... why the government / fhfa which can do no wrong.
Why and remember sec reporting standards have been suspended for fannie and freddie....
why they've not spent the last few years... quietly.. buying up shares and then using them to help walk the share price down.. manipulate the market and simply take shares off the street.
There are so many shares outstanding that' if 79.9% is gonna be worth a bundle... why they don't make it worth more. (to them.. worth more to the government ... free money profit making.. by buying up the shares... and float.
Rules be x'd why?
Cheers...
Calabri is such a waste...
he had a chance to do something right. The courts have all said the director of fhfa could do no wrong.. and he did nothing right.
what a human waste.
poor fellow should go chase butterflies.
In reality, the government that has "control" of the entities and dilutive / functional control / ownership of 79.9% of the stock and 100% of the voting interest, evidencing control; already by accounting rule ... in the US known as GAAP should have already "consolidated" both of the GSE's into their financial statements.
The fact is the 80% threshold is not the critical factor... its "control" and they have it.
This is an accounting myth they've conjured up on everyone.
But, hey they don't have to follow SEC Reporting Guidelines, now do they.
The investment thesis here is really unchanged.
The GSE's are necessary
They do a great job
Were never in danger
Were expropriated.
The warrants are invalid (fruit of a poison tree = a taking)
The money needs to be returned
No one puts new money in these two with the governments chicanery.
At some point they'll need to unwind the games and set them right.
Government is the problem
Fair value is north of $150
Not only that...
They said that they could act as a receiver or conservator and swap back and forth to avoid any and all... challenges... they can be a Karma Chameleon ... and couldn't be caught or pinned down... they can say one thing one place and one thing another and you can't compare them or hold them responsible for anything at anytime... they are Teflon.
Reading these emails... Navy.. you are reposting...
it comes to me ..
Clearly...
that what the government has done is..
colluded
to
commit
Fraud
Its shocking to me that this travesty has taken this long to be righted.
This stock should have easily been $90 a share 10 years ago... And now should easily be $165 with the growth and maturity.
The only thing holding fannie and freddie back..
Government.
Can't write what i think but government has been the problem and needs to get out of the way and let the private sector solve this.
...
Yes, you should easily have had $9M on your 100K shares and near $17M today.
Not to mention $4 or so a share in dividends a year annually for those last 10 years. (so that's another $4-5M they've stolen from you.
Sick simply sick.
45 days or what... they'll put them in conservatorship or worse... release them....
lol
Of course the government is a liar and full of liars.
But the reality is ...
the government lost $0 money in the gse's
further, no depositor lost any money in any failed bank.
finally, the health of the economy and the gse's are dependent on the full faith and health of the US.
In a sense the US government back stops everything big. Whether its Duke Energy... or Cal Trans... or Eversource; or in other larger player... Bank of America.... so goes America so goes these companies.
As far as invested capital... All the government has to do is return the $$ it stole net of what was crammed down it and they have plenty of $$.
Keep n mind from operations... the GSE's were never cash flow negative and the loan portfolio... they had... largely performed. Without issue...
fact is ... if... ifs and buts were candy and nuts...
we could be released by now.
good grief... takes nothing more than a stroke of the pen.
They took us under as simply as they could release us..
its not magic... its simple.
just do it already...
My concern with a jury trial is that the plaintiffs will over complicate this with graphs and sustance as opposed to boil it down to simple theft.
and the government will create a massive fog of unkiownon and inuendo and susch bs that they will completely confuse a jury of average joes and jills.
This is a simple case of theft.
confuse people and we lose.
the judges thus far keep getting marred in the mush of government doulble talk and havent' figured much out.
look at the supposed smart supreme court ninnies.... they swung and fouled it off... they barely understood what was going on... ask them and they are probably babbling idiots.
keep it simple....
Yes and no doubt the twins were subject of pre appointment discussions... that being get them released. so SM should have been a lead and when cat man got there it should have been done quickly.
No excuses for not getting this done in the two years cat man sat on his hind legs and ... ate free lunches...
but a total waste
SM was a disaster and cat man was worse ...
It just wasnt a big deal to them as free money.. blaimed on the prior admin is still free money.
everyone likes free money... except from the people its being taken from...
me!
Yep... not that we are cathching up with u in age... but yes... 55K shares should be worth well north of $4M and closer to $7M right now... not what they currently sell for.
So sad...
You'd have figured that a stimulus plan that allowed these two back to fair value would generate billions in Tax money as we all set about living our lives and spending some well earned money.
i guress the economists aren't to be heard from..
It took mere seconds to suck these two under...
Let me be president for one day and it happens..
Come on man.. this isnt hard.
Get on with it already.
Just do it already.
too many lies coming from DC... too many.
That is a false narrative. The government never "invested" 191B in fannie and freddie... they stuffed it down their throats but invested lol!
The only problem is that he indicated they'd sell common shares for zillions... which would be a problem since they don't own any shares. Would have to take them to sell them and that would cause more lawsuits for taking them.
I'd just rather they cut them loose.
Also, what i don't understand is that even with just two years left and ability to actually have done something with seemingly why a munuchin fhfa director, they wouldn't have made it happen.
good grief...
just get it done!
I'll love to have the $150 a share price.... now!
After 13 years... amazed at the greed of government.
3% of 180 bucks fair value is equal to $5.40 per share for me that would be enough to easily retire on the dividends, nuff said.
Fair value on a takings claim is the intrinsic fair value of the shares, not some artificial depressed stock price.
Its 15Billion in earnings / 1.2B shares x some multiple like 13 or so... that's around $150 a share++
Fair value ... really fair value has to be fair.
Fair is what i wnat ... not farce value.
Why not just cancel them now and get on with it.
Fair value? you mean 150 bucks a share?
sure that's an easy takings claim... well unless government is involved and the supreme court of losers they have.
so yeah...another easy win for the thieves / crooks / mafia types... i mean greedyment /// government.
Fair value... based on earnings potential is north of $150
I'd take $125 in a heart beat and not have to worry about "governmental risk" any longer.
greedy sons of guns.
One of these lawsuits really needs to press for a resolution to the "conservatorship". Meaning... tempoarary was never meant to be 14 years and that's too long to x or get off the pot.
So, its a taking and the government needs to pay up.
There are many things MC and Munuch and DT should have in common for not doing diddly doo about Fannie and Freddie. Most of which i can't write; however, a serious talking to is among them; if they knew how to listen to the people.
All this mucky talk about affordable housing is BS.
If you want "affordable" housing.. build affordable homes. Simply "mandate" it; tell every city in america if you want free taxed money from the imperial federalists, then for every home sold in the community above $200K they have to sell one or build one below $100K. Mandate this "affordable" housing stuff.
Let the rich people in $200K houses subsidize the $100K houses by making the builders / redevelopers produce them.
Come on Joe..
Mandate it... you like this stuff.
Come on Man...
At this point... probably higher considering earning capacity, etc.
Afterall; $160 would have been fair value 7 years ago.
Dollars to doughnuts there is no possible way this "date" won't be pushed back at least twice or maybe three - four times and further delayed for some reason.
Nothing in this debacle ever happens on schedule or on time.
This will be a 2026 thing... maybe.
Transparent... with 11K hidden documents.
lol!
If these morons want to make houses affordable then why not Mandate... they appartnly like mandates... that anyone building houses have to build 1 $150K house for every $500K house they build. That way, the "affordable" house is that... a 2 br 1 ba home on 1/30th an acre?
I mean that might be affordalbe/???
Or mandate that they have to build a home that is sold for no more than 1/4th that average home price in the zip code.
Yes...
a simple Mandate ought to work... that's affordable...
Lets screw up the market by making homes "affordable" whatever that means.
Why are there or why should there be "affordable housing goals for the GSE's" anymore than there should be chocolate goals for my mom? Why ??
Shouldnt the GSE's goal being buying mortgages and creating liquidty in the market..
Aren't or doesn't it seem perverse that the company should have any of these goals other than operating effeciently in the market place?
Shouldn't the rest be on government not these private companies?
Nutso crazy
I'd take 40 per share right now; and forego the other $120 bucks of fair value.
I've mostly had enough of the shenanigans of greedyment.
Always have found this ... legalizing dereliction of duty to be a head scratchier.
I mean, completely counter to any normal thought and likely baiting them to vote for it when they wouldn't have otherwise.
I am sorta surprised no one challenged that.
Wish Gary would get behind the kill the warrants movement.
cat man had plenty of time to get this done and get them out ... had he wanted to . had the administration wanted it done it would have happened. it was horribly dissapointing that they could have done it; ugoliety could have made it too.
But neither had the fortitude to get it done.
a disgrace.
and now the
old man with no morals or such will do squat.
what a mess.
what a flipping fart.
The overwhelming big problem here is that the plaintiffs are beng asked to thread a needle as to what the wrong doing is as opposed to just saying this is wrong - so fix it.
excercise of warrant unless 100% goes to company or shareholders pro-rata is a taking.
This is such a shet show.
What the heck ...
Why is the government so greedy?
Looks like they are making interest the new tax by owning 100% of the profit / loss its now a tax.
This is such an abortion ... no reason that these things are cratering when there is billions of value here.
Those in government should really be proud of what they've done?
What a farce.