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Added few more.
Dan Xtropian said:
July 23, 2014 at 5:36 pm
on http://timhoward717.com/2014/07/22/refugeesmedia-and-beyond-1046pm/#comments
Tim, I’m not sure if the attorneys have already seen this, but it may be useful in proving jurisdiction in the Fairholme case (FHFA is supposed to be the conservator and regulator, not Treasury, and this Treasury decision deprived the GSEs of much needed funds, keeping them in “conservatorship” longer – before the third amendment and its sweep):
The document is in the Texas Law Review, Vol. 89:1293 (Google finds it) :
When the Government Is the Controlling Shareholder
Marcel Kahan & Edward B. Rock
Brief excerpt (thanks to valueinvestor.88888 for posting this on the Yahoo FNMA board) :
The Treasury’s political considerations have led it to block profitable actions by controlled firms.
For example, at Fannie Mae, the Treasury vetoed a sale of $3 billion in tax credits to Goldman Sachs and Berkshire Hathaway. Although these tax credits were worthless to Fannie Mae, the Treasury would have lost tax revenues had they been sold to an entity that could use the credits
to offset its taxes. In this way, the financial interests of the Treasury and of Fannie Mae and its (non-governmental) shareholders and creditors were in clear conflict — and the Treasury’s interests prevailed. 52
INFORMATION FROM: law yale edu/doc DRAFT: 11/22/10
When the Government is the Controlling Shareholder
Page 13 Foot Note 52
2 Nick Timiraos, Treasury Blocks the Sale of Tax Credits by Fannie, WSJ Nov. 7, 2009
“Approving the deal could have also furthered a perception that policy makers have taken steps that have favored Goldman ahead of other banks at a time when populist sentiment against Wall Street has surged.”
When the Government Is the Controlling
Shareholder
Dan Xtropiansaid commented on July 23, 2014 at 5:37 pm on
http://timhoward717.com/2014/07/22/refugeesmedia-and-beyond-1046pm/#comments
http://www.texaslrev.com/wp-content/uploads/Kahan-Rock-89-TLR-1293.pdf
July 23, 2014
Dear Investors in the area of Atlanta, Detroit and Miami:
As we continue to advocate for our principles of GSE reform, it becomes clear that there is great potential for a short-term Administrative solution, rather than relying on a Congressional remedy. You may have seen that Mel Watt, the Director of the Federal Housing Finance Agency (FHFA), recently held a town hall meeting in Chicago to discuss mortgage refinance and modification programs.
Mr. Watt has also made plans to hold similar events in Atlanta, Detroit and Miami. As you may be aware, Mel Watt as Director of FHFA has the power to end the conservatorship, a step Investors Unite has strongly advocated for. It is our hope that when Mr. visits your area, he will know there are concerned investors present who are very much aware of his role as the Director of FHFA.
We'd like to work with you to ensure our message is carried to Mr. Watt when he arrives in your area. If you are interested, please email us at info@investorsunite.org for more details. It is through engagement like this that we can continue to advocate for shareholder rights.
Sincerely,
Tim Pagliara
P.O. Box 2591
Brentwood, TN 37024
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Refugees/media and beyond 10:46pm
-- TimHoward 717
Refugees/media and beyond 10:46pm
-- timhHoward 717
0.39 touched today. Is 0.20s possible ??
Any one else on the board please comment on this Jackticker's question ?? Thanks.
Thanks Jmb.
timhoward717 commented:July 20, 2014 at 11:06 am
Absent any argument I wouldn’t give it much credibility, remember there are a lot of shares short right now .
http://timhoward717.com/2014/07/17/update717-strategic-shift-1150-pm/#comments
A strategic shift is continuing to occur as forces across the spectrum are beginning to take notice of the blatant theft and trampling of shareholder rights that the government has been committing against us. There are those too who are beginning to see that our chances for a legal victory and being set free are climbing rapidly.Judge Sweeney made it very clear yesterday in the Fairholme lawsuit that she sees right through the governments charade and is not going to stand for it. Although most of the media continues to misreport grossly on our struggle which is evident in the headlines today reading limited discovery granted, that was not the news, discovery was granted months ago. The real news was how judge Sweeney slammed the governments absurd attempts to trample the rule of law, making it clear that ultimately she will put an end to the entire scheme.
Our grassroots campaign to inform America about the soviet style profit grab and how it will forever change America is picking up steam. I think both Ron luhmnann and Yaquino hit on a brilliant idea in the comments section of last nights post.I would ask that everyone copy their simple messages or writeup one of your own and flood the comments sections of every major article on Fannie, Freddie there is. Take our message to Twitter, Facebook, write letters to key financial journalists and publications. Use any of the content here if you wish as Yaquino did. Refer them to our blog as so many are still grossly uninformed.
The news today about the launch of the largest risk sharing MBS offering to date by Fannie Mae yielded a few clues. It appears demand is not as high as the previous offerings which make it even more laughable that there are those that believe that private capital will be willing to shoulder a large portion of the market that Fannie and Freddie carry.
On the Perry injunction contrary to what some believe I do not think Judge Lamberth will issue a ruling prior to hearing oral arguments. I am a little baffled though because as I stated previously I heard that he was planning to hear oral arguments the end of this month and still nothing is officially scheduled. He may be studying the reams of documents he was given and preparing for the oral arguments and ultimate decision. The biggest decision of his life.
I am working on another major post that I believe will add a whole new dimension to the discussion and open even more eyes. Keep the Faith!
http://timhoward717.com/
Update:717 – Strategic shift 11:50 PM
-- TimHoward 717
yaquino commented on July 17, 2014 at 9:21 am
http://timhoward717.com/2014/07/16/hold-no-merit-contrary-to-law/#comments
HOLD NO MERIT-CONTRARY to LAW-Fairholme Funds vs FHFA
If major financial networks such as CNBC,WSJ, New York Times, LA times, Yahoo Finance , Seeking Alpha and others will not issue a press release in this landmark court decision we can now question their role as vanguard of the “rule of law”. It is now our fight to continue our vigilance. As most of us who are following this this goes beyond the value of GSE’s pps, but the preservation of the “rule of law”
Tim, again thank you very much in providing the leadership through this blog. With your permission, I will be writing letters to the editor on major financial networks using commentaries and analysis of this landmark event.
We are “keeping the faith ” !!
Thanks for the information Bruce.
$150 easy with out warrants. $40 with warrants. Just IMHO. Thanks.
rey commented on July 17, 2014 at 1:08 am on
http://timhoward717.com/2014/07/16/hold-no-merit-contrary-to-law/#comments
I’ll see in the near future judge Sweeney saying 3rd amendment or sweat amendment “is contrary to law.”
Nobody commented on July 17, 2014 at 12:42 am on
http://timhoward717.com/2014/07/16/opinion-order-fairhome-case-714pm/#comments
She only granted discovery up sept 2012 for post 8/17. Didn’t plaintiff requested a much later date? How is that a win? Also, the risk of a leak severely affects plaintiff while it may favor government. Any doc leaked will become unusuable. How about the government then leaking in purpose? Although her opinion is strong and somewhat sends a message to government is far from a complete win.
jmurrayx commented on July 17, 2014 at 12:54 am on
http://timhoward717.com/2014/07/16/opinion-order-fairhome-case-714pm/#comments
Tim, you have been doing a fantastic job. If the Founding Fathers were alive today, they would salute and celebrate you as a Great American!
Kishor on July 17, 2014 at 12:42 am
on
http://timhoward717.com/2014/07/16/hold-no-merit-contrary-to-law/#comments
Thank Tim. We sleep better since we know someone is working hard to provide impartial analysis.
We should send letter to Obama. Don’t abuse judicial system.
Reply
“Hold no merit,” “contrary to law.” 11:29 PM - TimHoward 717
http://timhoward717.com
Tim is like our Obi and DT and few other best posters on this board. Thanks Obi and DT. All the best to all the longs who believed in the Law than on the investment. Thanks.
----
jennifer barber on July 16, 2014 at 9:00 pm
You’re the best Tim; we’d all be in the dark without you!
http://timhoward717.com/2014/07/16/opinion-order-fairhome-case-714pm/#comments
One of the readers Ironman11 commented on http://timhoward717.com/2014/07/16/opinion-order-fairhome-case-714pm/#comments
Just what I needed to see. Shareholders win/won!!! Govt must do full disclosure(while keeping all documents “confidential” from te public)
Govt is trapped in the corner with their pants down.
Interesting Judge Sweeney chose not to comment on endin the net profit sweep citing it is involved in a similar case.
I bet govt hands over no docs. And Judge Lamberth will grant injunctive relief any given day
Get prepared Fannie And Freddie Pack.
Stocks are about to take off!!!
Everyone knows it’s illegal to wipe away all profits from a private company. Justice will be served!!
Peace and Love everyone
OPINION & ORDER Fairhome case 7:14pm Great news! “Once again Judge Sweeney reminds the government attorneys that the rule of law still is alive in the USA contrary to what they may believe” - TimHoward 717
Darryl Schmiermund (schmiergolf) commented on July 16, 2014 at 7:26 pm on
http://timhoward717.com/2014/07/15/joint-status-report-regarding-july-16-status-conference-fairholme-lawsuit/#comments
Tim, thank you for your Blog and your dedication to this cause. What the Govt. is doing here in plain view (becoming increasingly noted by citizens) is ‘almost” beyond comprehension. As Wolf stated earlier, Stocktwits closed our FNMA ticker, using the OTC reasoning as their excuse. I cant help but think censorship is in part responsible. A really nice positive move today. I’m hoping Judge Sweeney’s actions had something to do with that. Again, thanks for all your hard work.
Reply
Opinion and order in Fairholme lawsuit,analysis to follow! PDF’s attached. Keep the Faith! -- TomHoward 717
OPINION & ORDER Fairhome case 7:14pm -- TimHoward 717
http://timhoward717.com
http://timhoward717.com/2014/07/15/joint-status-report-regarding-july-16-status-conference-fairholme-lawsuit/#comments
timhoward717 on July 16, 2014 at 9:19 am
Ron, The constant government bashing has been notably absent. A month ago Lew would have gone on a 5 minute bashing session.
Reply
http://timhoward717.com/2014/07/15/joint-status-report-regarding-july-16-status-conference-fairholme-lawsuit/#comments
timhoward717 on July 16, 2014 at 9:18 am
Sad to hear that Wolf, it seems as if the closer we get to revealing the truth the more they escalate the censorship. We will continue to shine our light. We are looking into starting a message board here due to all of the censoring. If anyone has experience with this please send a message. Anyone can sign up now to receive email alerts whenever a post is put up.
Reply
Is it an indication that there might be a settlement ?? Just IMO .
Frank Fosco on July 15, 2014 at 10:15 pm on
http://timhoward717.com/2014/07/15/joint-status-report-regarding-july-16-status-conference-fairholme-lawsuit/#comments
Seems to be an awful lot of brass for a status update! These are meant to be conference calls. For this to be so well attended we should assume serious discussions are & have been taking place over these last 48 hours. We have never gotten a who’s who’s coming to a status update???
To be a fly on the wall!
Would be nice for them to have agreed to stop the sweep & moving to release our private property.
Looking forward to learning about what transpires!!!
JOINT STATUS REPORT REGARDING JULY 16 STATUS CONFERENCE (Fairholme lawsuit) 828pm -- TimHoward 717
http://timhoward717.com
timhoward717 commented on July 15, 2014 at 4:26 pm on
http://timhoward717.com/2014/07/15/new-order-fairholme-case/#comments
Remember we are only in pre-trial. This discovery is very narrow and limited only to the government motion to dismiss. I would suggest you take a look at some other major lawsuit timelines. They take time; Judge Sweeney has done a great job of keeping this moving along, far better than other cases I have seen. A lot of this is simply procedural stuff that takes place in every case. The big issue now is to see how she decides regarding exactly what will be classified as protected information. Relax, I couldn’t have imagined being in a better position than we are in at this stage.
Reply
Thanks Commander. Frank Fosco on July 15, 2014 at 4:03 pm commented on
http://timhoward717.com/2014/07/15/new-order-fairholme-case/#comments
I did not read it that way Kit. There is gong to be a protective order regardless who it favors – that was a known. The stock volatility came down a bit but stabilized.
1. The order set forth a path for discovery.
2. It will define what FHFA is after discovery gov or not or acting as gov or not.
3. There are motions after motions but they all run out of steam.
The key is what is the order after discovery – after all this is to prove jurisdiction at this point.
So cost of entry will still need to increase once that order is put into play just of the merits of the public documents already documented.
The only way we see a huge down side is allowing total disregard for the freedom of information act not to be infused into the discovery.
All is all we hoped to have no protective order but one is needed to guide the road and allow the plaintiff a path to get RELEIF!
Keep the faith!!
Can some one please comment on the below comment by Kit on July 15, 2014 at 3:06 pm
On http://timhoward717.com/2014/07/15/new-order-fairholme-case/#comments
“once a protective order has been entered”
Which means it is a done deal. Sweeney folded to the pressure of the gov’t attorneys. This is what we absolutely did not want to happen.
FNMA: Fannie Mae & Freddie Mac: A Risk Worth Taking -- Seeking Alpha
Sam on July 15, 2014 at 2:46 pm
on http://timhoward717.com/2014/07/15/new-order-fairholme-case/#comments
Hello everyone like a few people mentioned in this blog…US will become a banana republic very soon….FMCC will never be release by crooks who are controlling it….they could care less about people.
http://www.businessweek.com/articles/2013-03-27/can-the-brics-have-their-own-world-bank
The people in the west, will & are rebelling & the USA peoples are the last to either fall if they accomplish to take away their arms or end the wicked debt slavery & overthrow the psychopaths that run amuck. Time will tell, the west is at a crossroads with the BRIC’s
Malebaboon last post on Jul 14th.
Locust2 From Stocktwits FNMA on July 15, 2014 at 10:39 am
on
http://timhoward717.com/2014/07/15/new-order-fairholme-case/comment-page-1/#comment-1015
At this point we do not know “The Next Steps” – they disagreed on the scope and boundaries of discovery without a [public] defined process to reach resolution. So this is either going to painfully drag on OR, it is the beginning of the end. I have always felt that the Government would put an end to this prior to handing over a single document – let’s hope that the seeming lack of legal progress is a positive sign.