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Thanks chessmaster315
Chessmaster315, Thanks for posting that. I had very minute shares of FRE during that time. Can you please let me know whom I have to contact.
THE COURT: No, I — I — okay. Thank you. ” (Priceless) --Tim Howard 717
http://timhoward717.com
Transcript Fairholme lawsuit hearing “So, it’s a schizophrenic approach”
-- Tim Howard 717
http://timhoward717.com
June 20, 2014
Good Afternoon, Investors!
This week, Investors Unite Executive Director Tim Pagliara filed a response to the Federal Housing Finance Agency's (FHFA) request for input on the proposed increase to guarantee fees (g-fees) that Fannie Mae and Freddie Mac charge lenders. On behalf of Fannie and Freddie shareholders, Mr. Pagliara encouraged FHFA Director Mel Watt to consider the new proposed policy in context of the Treasury Department's 100 percent net worth sweep of the enterprises.
In the letter Tim Pagliara stated, "As long as Treasury is taking all of Fannie and Freddie's profits, any increase in g-fees would amount to nothing more than a new tax applied to general deficit reduction. Ultimately, profits accumulated from g-fees and other business of Fannie and Freddie should be allowed to stay within the housing market and should be set at levels that help ensure safety and soundness of the GSEs, that protect long-term health of the housing market, and that respect the rights of all economic stakeholders-including the GSE's shareholders."
Also the letter included a recommended set of principles that Director Watt and the FHFA should be considered for g-fees following reversal of the 2012 net worth sweep. Please find them as well as the full letter from Tim Pagliara here.
As always, provided below are a complication of relevant coverage to provide you an overview of the GSE Reform landscape. These and other relevant news items can be found at www.investorsunite.org/headlines.
Have a great weekend.
Investors Unite
info@investorsunite.org
Fax: 1-703-890-2461
Phone: 866-288-3537 _________________________________________________________________________
Investors In the News:
Inside Mortgage Finance: GSE Investor Group Wants FHFA to Hike G-Fees
Press Release: Fannie-Freddie Shareholder Coalition Responds to the Federal Housing Finance Agency (FHFA) Request for Input on Proposed Increased Guarantee Fees
_________________________________________________________________________
Other News Highlights:
Real Clear Markets: What Is the Federal Government Hiding About Fannie Mae and Freddie Mac?
Newsmax: Cantor's Loss is Warning Shot to Cronyism and Johnson-Crapo Supporters
Value Walk: Fannie Mae, Freddie Mac: OCED Weighs In On Crapo-Johnson
Washington Post: Congress wants to know HUD won't be 'just a steppingstone' for rising star Julian Castro
P.O. Box 2591
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Has FNMA Found The Bottom and Ready To Move Up? Find Out Here
http://www.techsonian.com/stocks-buzz-great-panther-silver-ltd-usa-nysemktgplspherix-inc-nasdaqspexalexco-resource-corp-usa-nysemktaxu-paramount-gold-and-silver-corp-nysemktpzg/12216264/
The first wave !! (Fairholme lawsuit)
--Tim Howard 717
http://timhoward717.com
Update on court today (corrected 813pm) Tim Howard 717
http://timhoward717.com
Order re: Protective order - Tim Howard 717
http://timhoward717.com
Any time frame Jaren ??
My random number is $20 by year end .
Will there be any fluctuations at all today ?? As there's no judgement yet today. Just IMO .
Flying in corporate jets while TARP funding.
http://m.us.wsj.com/articles/SB124536271699529031?mobile=y
CEOs used to fly in corporate jets while their companies taking TARP funding back then.
http://m.businesstravelnews.com/3_article?guid=14690&t=1&s=1&from=1_tab1
I want to offer a little analysis on the government reply in the Fairholme lawsuit today. One statement jumped off the page, I actually thought I had mistakenly opened a Fairholme document,
“The Enterprises are in conservatorship, not receivership. Section 4617(b)(2)(A) of the
Housing and Economic Recovery Act of 2008 (HERA) transferred to the conservator for the
duration of the conservatorships “all rights, titles, powers, and privileges of the regulated entity,
and of any stockholder.” Conservatorships are extraordinary and Congress expressed clearly its intent regarding the administration of the conservatorships. Accordingly, judicial rulings, such
as those upon which plaintiffs rely, allowing shareholders of seized, closed banks to bring suit in receivership provides no support for plaintiffs.”
Here I find it fascinatingly insane that the government would clarify for the court that Fannie and Freddie are in conservatorship as opposed to receivership. This is a critical point for the plaintiffs. Its another example of the government wanting the benefits and none of the liabilities. This is getting surrealistic to watch.
One item I found more than amusing was the government reference to the failed Cuban Bay of Pigs invasion on the same day that Castro was appearing in the senate.
The bizarre lengths the government is going to fight the discovery has now gone beyond implying guilt to being interpreted as an outright guilty plea. There is only one reason they would go this far, they know that to comply with even half of the requests will spell their demise.
So here we go, the oral arguments will be held Thursday at 11 am. Stay tuned and Keep the faith! - Tim Howard 717
Today was a huge day as far as developments. I hope to post a little analysis on the government response, I am writing these two simultaneously, but that may have to wait until tomorrow. You have to read between the lines to decipher Julian Castros comments today at his confirmation hearing. He had no easy task as his comments had to serve a few different purposes. First and foremost he had to keep the refrain that was also used by Mary Miller in her speech, that is that it is critical for the country to reform housing finance through legislation. This steady drumbeat is for the benefit of Judge Sweeney. They hope to pressure her into siding with the government or gravely imperil our country economically. That somehow if the government loses in the Fairholme lawsuit or the Perry injunction the country will plunge into an abyss of bankruptcies. Don’t expect Judge Sweeney to fall for this.
The other much more important aspect of Julian Castro testimony was that the coup is alive and well. Not he did not endure the Johnson/Crapo bill. He continued what is becoming a steady refrain from the administration, that the conservatorship is greatly impeding Fannie and Freddie from achieving their goals. The change in discourse is subtle, but you can see where this is heading. The conservatorship is exacerbating the weakening in the housing recovery(Home lending has slumped to a 17 year low) He chose his words carefully and contrary to several media reports he did not call for ending Fannie and Freddie. He very carefully stated “I share your goals of ensuring that we have a housing finance system that both protects the taxpayers in a stronger way than we have had in place, but also balances access to credit for folks of modest means who are credit worthy,” and “I absolutely believe that there are better alternatives than what we have in place with this duopoly and with this conservatorship”. His words echo those from the democrats who voted no on the Johnso/Crapo bill. To achieve these goals, there is simply only one alternative, reform and release Fannie and Freddie. Julian Castro is about to assume a key roll in the democrats coup to ultimately reform and release Fannie and Freddie from conservatorship. This is a complicated issue for the democrats, right now their primary goal is to keep the profits diverting to the treasury while at the same time gearing up for their ultimate goal. Castro Has aspirations far beyond being head of the FHA, what a better stepping stone than successfully overseeing the reform and release of Fannie and Freddie and the multi billion dollar windfall the tax payers will gain.All while keeping the democrats housing initiatives alive and well. Keep the Faith! - Tim Howard 717
Julian Castro- The coup rolls forward.
- Tim Howard 717
http://timhoward717.com/2014/06/17/julian-castro-the-coup-rolls-forward/
Commentary on Governments response (Fairholme lawsuit) - Tim Howard 717
http://timhoward717.com/2014/06/18/commentary-on-governments-response-fairholme-lawsuit/
The government has filed their reply.I have attached a PDF file. For someone who has done nothing wrong they sure are going to great lengths to hide a lot of documents…… Keep the Faith!
--Tim Howard 717
https://timhoward717.files.wordpress.com/2014/06/617-defendant_s-reply-in-support-of-motion-for-protective-order-2.pdf
The government has filed their reply.I have attached a PDF file. For someone who has done nothing wrong they sure are going to great lengths to hide a lot of documents…… Keep the Faith!
https://timhoward717.files.wordpress.com/2014/06/617-defendant_s-reply-in-support-of-motion-for-protective-order-2.pdf
DEFENDANT’S REPLY IN SUPPORT OF MOTION FOR PROTECTIVE ORDER (Fairholme lawsuit)
http://timhoward717.com
As Jarenawer said "It's a one time opportunity for every 50 years"
So you didn't have enough common shares ?? . Is that what you feel about ??. Buy them now at least. This price of $4.18 might be cheap when compared to it's true potential which might be well over $100. Thanks and Just IMHO .
Berkowitz trimmed 5% of his FnF holdings for Icahn at $4(?), which he bought well below $2(?). So selling only 5% at a 100%(?) profit means dumping for you ???. Cool. This board knows it well. Thanks.
Just IMO .
$100 plus dividends are easy and I think $180 might be possible. Happy to see $325. Thanks and just IMHO .
The longs on the board are very well informed, read though lot of analysis by the best posters like Obiterductum, Detearing and many other good intellectual posters. They know the risk involved here and the reward that may come if the rule of law is followed. Many longs here are holding this since well below a $1 and much before the Ackman, Berkowitz and Icahn. And they are not naives to read through the junk posts. Thanks.
Just IMO.
Thanks DT .
Hi DT please add me.
Lock and Load - Detearing
The news may come out after few days.
We don't know whether some one is loading it or unloading it. The price went down from $6.30 to $3.00 in just about a couple of days in March. Then after couple of more days Ackman announced that he increased his position in FnF.
Mikoli007, Thank you for posting this information again. Really describing what happened then. Thanks.
There's no guarantee that AIG won't need any tax payers money in the future if there's any recession. After all if is too big to fail. Same is the case with FnF. Just IMHO .
Tax payers money has been used for a company, whose purpose is to assist tax payers dream of home ownership. When AIG & Citi would have survived by using TARP funding, why not FnF ?? Just IMHO.
Some one on the board posted last year that "He told his wife while buying FNMA at 0.30s that if any reason that takes this to $3, the same reason will take this to $30."