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Some of the post seem spot on, don't see any "loss of hope".
Obama Care/ Dodd-Frank anyone??
Blogger 1 day ago
You like other journalists have fallen into the government promoted trap of reporting that Fannie and Freddie ” privatize gains and socializes losses”. The FACT is that one dollar of losses has been incurred by GSE’s. The government temporary investments will be paid in full with a HUGE profit from owning 80% of the companies for nothing.
Politicians are willing to risk changes to the most successful housing finance system in history BECAUSE they didn’t charge the right G Fees and didn’t keep the premiums to pay for the once every 70 year housing bust. When Americans catch on that the “ improved” mortgage finance system will doom 30 year fixed rates with one way optional refinancing, there will be political hell to pay.
Dolores Bittleman 1 day ago
Litigation is clearly the only way to go because legislators at every level have ignored small investors in Fannie Mae and Freddie Mac. There was no evaluation of the destructive performance of the mortgage giants’ officers; they left with huge fortunes and no guilt for their destructive performance.
Politicians equally are to blame for the housing fiasco; they pandered to voters by colluding to corrupt credit standards, The scene was set even before the Community Reinvestment Act.
Every kind of mortgage writer only sailed in to take advantage of opportunities set for them by politicians, unscrupulous Fannie and Freddie management and real estate salesmen. Of course the scene was set for collateralized mortgage obligations and other inventive derivatives,
Winding down means it already holds a position of strength in the housing market. I cannot think of any company that was "wound down" from a position of strength except for those caught up in anti trust action which is not the case in Fannie Mae, Freddie Mac.
The jig is up!
What makes Fannie and Freddie so interesting is the massive uncertainty engendered by a "worthless stock" of a multibillion dollar concern. It is the essence of volatility without the need for any type of "hype'. IHub follows the stock not vice versa.
I tend to think a radical restructuring or liquidation of the GSE's would engender so much angst and uncertainty in the market the cure would be worse than the problem.
All is doomed !! Despair, despair!!
Interesting report. A lot of weak "sisters" are the major participants in the report. Hard to see it fly without full administration backing and major House and Senate push which seems lacking to date. As the up coming DC Conference on the GSE's headlined "Is Inertia Gaining Momentum" seems quite possible.
There was no way to target "low income/economic distressed" borrowers without lower loan qualifications for everyone. That was the mad money aspect of the re-fi boom of 2000's. Without that federally crafted bubble there could not have been the housing collapse and fannie/ freddie would be have just kept plodding along in the 30.00-50.00 dollar range owned by pension funds and money managers. it was an equal opportunity screw up and the same crowd should learn keep its hands off the GSE's that worked fine for decades.
I think I see the fuse starting to spark.
Sending this off to both my Senators:
Sir, I don't understand the present move in DC to abolish Fannie Mae and Freddie Mac ? It seems they are doing and have done exactly what Congress authorized them to do, that is, make owning a home affordable for the greatest number of American citizens. They have returned to profitability and can apparently repay the government with a considerable profit to the treasury. It can be argued the troubles with these institutions started with congressional mandates the loosened lending in excess. As the lending rules for the GSE have been tightened they now are once again the solvent, profitable and productive. it makes no sense to start over with a whole new approach to such a critical component of our economy when Fannie and Freddie have done such a good job for decades. Don't you agree?
Sending this off to both my Senators:
Sir, I don't understand the present move in DC to abolish Fannie Mae and Freddie Mac ? It seems they are doing and have done exactly what Congress authorized them to do, that is, make owning a home affordable for the greatest number of American citizens. They have returned to profitability and can apparently repay the government with a considerable profit to the treasury. It can be argued the troubles with these institutions started with congressional mandates the loosened lending in excess. As the lending rules for the GSE have been tightened they now are once again the solvent, profitable and productive. it makes no sense to start over with a whole new approach to such a critical component of our economy when Fannie and Freddie have done such a good job for decades. Don't you agree?
Very smart. I think the tide of Fannie/Freddie exiting conservatorship is building velocity.
"The shareholders (both common and preferred) in these companies have legal rights that cannot be ignored or circumvented for political conveniences or objectives. And although the FHFA is owed a debt of gratitude for their sterling leadership during the dark days of the Great Recession, they need to return these entities to their rightful owners -- us. And if they cannot see their way clear to doing it voluntarily, then a court of law is going to show them the way. So, in the words of President Franklin Delano Roosevelt: "[They] have asked for it, and they're going to get it."
http://seekingalpha.com/article/1492262-the-just-and-legal-way-forward-for-fannie-mae-and-freddie-mac
Think me, there's big money to be made by the attorneys who take this to court...
I look at the mae's as citi bank with a caveat. It took 2-3 days to move from 3.00 PPS to 35.00 - 40.00 PPS. One announcement could do the same thing here up or down.
Most companies that are "winding down" have little or no commercial activities so they try to look busy. Fannie and Freddie's work load is genuine and highly integrated with the entire real estate and building industry. Aside from the up and down of the day to day trading PPS the likely hood of there being a liquidation of the GSA for a new and untested entity seems far fetched.
That was an excellent run down you've done your homework.
Nothing changed about whats driving this stock and Fannie Mae more than likely today's ride only sets up the floor for the next upward move.
SUITI had dropped 99.9% since I first bought it. Wow what an awesome stock and management team!! All the way to 0%
The U.S. Securities and Exchange Commission recently levied more than $4 million worth of fines against eCarfly (now known as Market 99 Ltd) and several defendants accused of manipulating the company’s stock.
Maybe its time SUTI gets the same treatment time to call the SEC.
This has alot more spark.
https://twitter.com/#!/Helicos_Bio
In the press relaes it states they are going to continue patent infringment claims against Illumina and Life Technologies. Getting a pay out from Pacific Biosciences I would imagine puts them in a positive postion against the other defendants.
It would appear the judge is prepared to hear the equity committe insider trading charges against the hedge funds. This "colorable claim" seems to leave the door cracked open for the commons to retain value.
Why is the stock price at .15-.17 but shows up as above and on my
stock screen as .42.5?
My suspicious mind wonders if this is a play? Buy big/generate
an upside move and sell.
Same here will do the same...
Has Mesa issued new common stock to give to United Airways?
How could Mesa cancel common stock if US Airways got 10% payment in common?