Always Looking for a good investment
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
UPDATE ON CASES from Familyman
Updated for November$FNMAS $FMCKJ $FNMA $FMCC@FannieMae @FreddieMac @FHFA @USTreasury pic.twitter.com/vJJC6Y2qY0
— familymang (@familymang1) October 30, 2023
DON'T forget Hamish's cut ! whatever that maybe. I never read the terms on the class action and what % any settlement would be paid
More than likely she’s Deer in Headlights ! Nothing will change until we have a new Government Nov 2024
I think the market has adjusted for the Court Ruling payout ! So for now instead of $0.43 to $0.45 we are now $0.57 to $0.67 for the time being
We Don’t know that one !
Even though they are funded by the GSE it would have to depend on what’s written in HREA and the FHFA bylaws to determine how any expenses like this are paid ! Must be written somewhere in there.
It’s court ordered ! ITS THE LAW
FHFA will have to pay the FINE for the court order!
It’s not a divided or anything like that !
UPDATE next week from Familyman on the lastest Fannie Mae & Freddie Mac proceedings.
https://x.com/familymang1/status/1717181992024822091?s=20
It's a court order! I'm sure since this is a legal ruling that FHFA will need to pay regardless what it says in the bylaws of HERA. Ultimately FnF will be paying the fine
WE WIN !!!!!! PAY UP FHFA !!
FREDDIE COMMON = $31.2 MILLION
FREDDIE JP = $281.30 MILLION
FANNIE JP = $299 MILLION
+
FANNIE JP 5% INTEREST 2012 TO 2023 July. = $$$$$$$$$$$$
BOOM TOMORROW !! For sure ! good work keeping an eye out for that we were all waiting for !
Black Rock’s involvement is all about owning homes that will never be sold again and you will own nothing and be happy about it by 2030 days Swab at the WEF.
What does this mean for Fannie and Freddie ? They will never be released back to private shareholders!
If that’s any thing close to what the meeting at the White House was about then all shareholders are doomed !
The picture is pretty clear what the Biden Government/ Black Rock are up too!!!
Mean while on the moon it’s fine sunny and dandy drinking cups of tea
I Applied ! Now if I get the Job it will be RE-CAP AND RELEASE! My board presentation will be about how giving the companies back to three private shareholders is the right thing to do to increase investor relations and stock price. lol I think everyone should apply !!
https://jobs.smartrecruiters.com/oneclick-ui/company/FannieMae/publication/da80bf90-9078-4741-9033-6cc72f7ed4de?dcr_ci=FannieMae
After ten hours of deliberations, the jury awarded damages of $612.4 million to Fannie Mae and Freddie Mac stockholders. Appeals are anticipated.
Hmmm Apeals here we come? What really gets my goat is why are we waiting ??????? whats the Gov cooking with Judge Lambert ???
Oh ok good to know! I wondered that because it was talked about last month on here. En Banc. We will know soon enough
So the Colins Case is dust ? finished, Gov paid off Judges to wipe the floor with shareholders?
SHORT REPORT FNMA
https://www.otcshortreport.com/company/FNMA
Those Magic Fannie and Freddie Beans! YOU BET YA ! turn them into $100 Billion cash and set free Fannie and Freddie !
BECAUSE, the eggs are locked up in a investment account the Gov can't access right now and Gov is wanting $$ NOW to spend on there toys aka (Political Projects)
YAWN ! God some people post dribble on this board ! He could have been another Bradford and borrowed the money to buy JPS share of Fannie Mae banking on a payout but time ran out and his loan was up !
With interest on Fannie JP's lets see the $$$$$$$
NOBODY here's the bear fart, but the Bear is still in the woods ! aka Fannie & Freddie. lol I get the feeling those two clowns are sitting back collecting a pay check doing nothing and spending Fannies and Freddies money on there Liberal BS programs!
WHATS THE HOLD UP LAMBERT???
Where’s our money since 8 Jurys found the Gov acted in bad faith to private shareholders
IT WON'T UNLESS THESE THINGS HAPPEN!
SCOTUS Changes collins or opinions another case in favour of shareholders
Trump wins in 2024
FHFA is disbanded
Agree!
I’ve always wondered if the Gov was playing both sides !
Defense and Plaintiffs
Figured if they run the Plaintiffs angle and make a mess of it get the Courts to judge in certain things like what’s happened so far then any other court case in the future by shareholders would be moot since cases have been judged on ! Take Collins SCOTUS said you brought the wrong case to us for takings !! Alarm bells !!!!! Look what Colin’s has had in cases since !!!
Well maybe Lambert wanted to make this trial solid and by limiting the damages payout Gov might just fall for it ! Would that leave other cases or even Fannie Mae commons suing for what you say is current value ! Does it open the door to suing for more ?
Anything is possible with the Gov. The fact that they tried with JPS in 2020 offer a discount and JPS refused in CATMANS book shows you without any reason to full par JPS are sticking to the Gov unless in receivership then we are screwed just like commons !
Anyway weather it’s Fannie or Freddie I’m all in on both common and JPS
I have! and clearly states nothing of the sort !
I've read the contracts I'm in vested in and each and everyone!
https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=FNMA
Takes FNMAS : Read page 5 clearly states JPS have voting right when it comes to changes and if JPS sharholers don't like whats offered then don't vote for it tell the GSE's no or yes!
https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/ir/pdf/stock-info/series_s_12062007.pdf
UNDER CONVERSION RIGHTS NONE. MEANS NO CONVERSION WHATS SO EVER!
And as expected the share price is setting up nicely at the level of support ready for Monday !!! NEXT LEG UP!
You go read! I have....many times....https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/ir/pdf/stock-info/series_s_12062007.pdf
READ ALL OF THEM
https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=FNMA
LET ME HELP YOU
VOTING RIGHTS = NONE. CHANGES TO CONTRACTS= HAS RIGHTS
https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=FNMA
PAGE 5 UNDER
CONVERSION RIGHT = NONE !!!!!!!!!!
Tell us where it's legal to convert JPS ?? 1) Convert JPS at $1 per share adds 33 billion shares
https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/ir/pdf/stock-info/series_s_12062007.pdf
https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=FNMA
YOUR FORGETTING GOV wants to convert there Warrants to Common SHARES!!
Can the government exercise its warrants whenever it wants, even if it is disadvantageous to the
companies?
Yes. Treasury can exercise its warrant for up to 79.9% of the common stock of each GSE on a fully diluted basis at
any time during the 20-year life of the warrant.
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-9-11_SPSPA_FAQ_508.pdf
https://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx
WARRANTS
Can the government exercise its warrants whenever it wants, even if it is disadvantageous to the
companies?
Yes. Treasury can exercise its warrant for up to 79.9% of the common stock of each GSE on a fully diluted basis at
any time during the 20-year life of the warrant.
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-9-11_SPSPA_FAQ_508.pdf
Enjoy the Reading https://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-8-7_SPSPA_FactSheet_508.pdf
• The following covenants apply to the GSEs as part of the agreements.
o Without the prior consent of the Treasury, the GSEs shall not:
? Make any payment to purchase or redeem its capital stock, or pay any
dividends, including preferred dividends (other than dividends on the senior
preferred stock)
? Issue capital stock of any kind
? Enter into any new or adjust any existing compensation agreements with
“named executive officers” without consulting with Treasury
? Terminate conservatorship other than in connection with receivership
? Sell, convey or transfer any of its assets outside the ordinary course of business
except as necessary to meet their obligation under the agreements to reduce
their portfolio of retained mortgages and mortgage backed securities
? Increase its debt to more than 110% of its debt as of June 30, 2008
? Acquire or consolidate with, or merge into, another entity.
• Each GSE’s retained mortgage and mortgage backed securities portfolio shall not exceed $850
billion as of December 31, 2009, and shall decline by 10% per year until it reaches $250 billion.
Terms of the Agreements:
• The agreements are contracts between the Department of the Treasury and each GSE. They are
indefinite in duration and have a capacity of $100 billion each, an amount chosen to demonstrate
a strong commitment to the GSEs’ creditors and mortgage backed security holders. This number
is unrelated to the Treasury’s analysis of the current financial conditions of the GSEs
• In exchange for entering into these agreements with the GSEs, Treasury will immediately receive
the following compensation:
o $1 billion of senior preferred stock in each GSE
o Warrants for the purchase of common stock of each GSE representing 79.9% of the
common stock of each GSE on a fully-diluted basis at a nominal price
VOID AFTER SEPTEMBER 7, 2028. ((((Warrants))))
THIS CERTIFIES THAT, for value received, the United States Department of the Treasury, with its principal office at 1500
Pennsylvania Avenue, NW, Washington, DC 20220 (the “Holder”), is entitled to purchase at the Exercise Price (defined below) from
Federal National Mortgage Association, a government-sponsored enterprise of the United States of America, with its principal office at
3900 Wisconsin Avenue, NW, Washington, DC 20016 (the “Company”), shares of common stock, no par value, of the Company, as
provided herein.
1. Definitions. As used herein, the following terms shall have the following respective meanings:
“Affiliate” shall mean, as to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct
or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any
Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise and the terms “affiliated,” “controlling” and “controlled” have meanings correlative to the
foregoing.
“Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions
in New York, New York are authorized or obligated by law or executive order to close.
“Common Stock” shall mean the common stock, no par value, of the Company, and all other stock of any class or classes (however
designated) of the Company from time to time outstanding, the holders of which have the right, without limitation as to amount, either
to all or to a share of the balance of current dividends or liquidating distributions after the payment of dividends and distributions on
any shares entitled to preference.
“Exercise Period” shall mean the time period commencing with the date hereof and ending at 5:00 p.m. New York time on the 20th
anniversary of the date hereof.
“Exercise Price” shall mean one one-thousandth of a cent ($0.00001) per share.
“Exercise Shares” shall mean the shares of the Common Stock issuable upon exercise of this Warrant, subject to adjustment
pursuant to the terms herein, and shall also mean any other shares, securities, assets or property otherwise issuable upon exercise of this
Warrant.
“Fair Market Value” shall mean, with respect to a share of Common Stock, or any other security of the Company or any other
issuer:
(a) the volume weighted average daily Market Price during the period of the most recent twenty (20) Trading Days, ending on the
last Trading Day before the date of determination of Fair Market Value, if such class of Common Stock or other security is (i) traded
I wonder how the Gov will approach there Appeal ?? What angle do you think they will take ? Surly they will appeal or will they think well it's FnF paying not us in the wrong so let them, it will slow down the capital Rise anyway!!!
SHORTS RUNNING AND HIDING
https://www.otcshortreport.com/company/FNMA
So after the 18th, we still wait until the court decides it? How long is that going to take is anyones guess! But from Hamish's email seems like they are onboard with the amount of settlement.
Quote:
After it is fully briefed, we will just be waiting for the court to decide it.
IS THE DOJ HOLDING LAMBERTS NOOSE around his neck again????? Could well be in the Jury case?? READ THIS !!
https://www.washingtonpost.com/archive/politics/2006/07/12/at-us-urging-court-throws-lamberth-off-indian-case/72b9f5cd-e668-4d9f-98f9-10d83e5052b7/
By Eric M. WeissJuly 12, 2006
A federal appeals court took the rare step of removing U.S. District Judge Royce C. Lamberth from a long-standing legal battle involving billions in Native American oil and gas royalties, saying the judge appears to be biased against the Interior Department.
The U.S. Court of Appeals for the District of Columbia Circuit cited Lamberth's own words to illustrate why he should be removed from the case, Cobell v. Kempthorne, including a July 2005 opinion in which he called the Interior Department "a dinosaur -- the morally and culturally oblivious hand-me-down of a disgracefully racist and imperialist government that should have been buried a century ago, the pathetic outpost of the indifference and anglocentrism we thought we had left behind."
The court said Lamberth's opinion "extends beyond historical racism and all but accuses current Interior officials of racism."
The ruling removes a sitting trial judge for only the third time in the D.C. Circuit and provides the latest twist in a contentious decade-long class-action lawsuit filed by the Native American Rights Fund over the trust accounts, which were set up in 1887 to compensate Indians for use of their lands.Since Blackfeet tribe leader Eloise Cobell filed the lawsuit in 1996, several independent investigations found that the Interior Department had never kept complete records, used unknown amounts of the funds to help balance the federal budget, and let the oil and gas industry use Indian lands at bargain rates.
The appeals court, in an opinion written by Judge David S. Tatel, said that in addition to Lamberth's harsh words, it also took into account that eight of the judge's past orders have been reversed on appeal, including two reversals that accompanied the removal decision.
"He's coming very close to saying this judge can't be fair," said Stephen Gillers, a legal ethics specialist at New York University. Gillers said that in other cases appeals courts have gone out of their way to stress they have faith in the judge's fairness but are acting out of concern for appearances. "Lamberth is not getting that vote of confidence here," he said. "It's a very strong opinion."
The last time a trial judge was removed from a case was in 2001, when U.S. District Judge Thomas Penfield Jackson was taken off the Microsoft Corp. antitrust case for talking with reporters. The Cobell case will be reassigned to another federal district judge.
"Just as reasonable observers could believe that improper outside contacts influenced a judicial decision," the opinion said, referring to the Microsoft case, "so too is reassignment necessary if reasonable observers could believe that a judicial decision flowed from the judge's animus toward a party rather than from the judge's application of law to fact."
Lamberth is a sharp-tongued Texan appointed to the bench by President Ronald Reagan. He has defenders from all points of the political spectrum and has repeatedly been ranked by lawyers as among the most skilled judges on the court.
"He is a hero and should be treated as a hero," said Stanley Sporkin, a former colleague of Lamberth's on the bench who was removed from the Microsoft case for reading a book that was not part of the official record.
"He is a very bright and able and competent judge who was doing justice," Sporkin said. "And it's hard to fault a judge for that."
But a few of Lamberth's fans said privately that he has lost his patience in the Cobell case and has made himself a target with his aggressive words. Last year, one fellow judge, speaking anonymously, said: "He's been driven beyond the limit of his patience by these people. In his heart, he may know he's no longer dispassionate."
In making the rare request to have Lamberth removed, the Justice Department said that besides using intemperate language, Lamberth has ignored appellate rulings and accused the government of "falsification, spite and obstinate litigiousness" with "no legal or factual basis." Yesterday, a department spokesman said the "decision speaks for itself."
The appeals court's opinion quotes at length from Lamberth's July 2005 opinion, in which Lamberth writes that "the entire record in this case tells the dreary story of Interior's degenerate tenure as Trustee-Delegate for the Indian trust -- a story shot through with bureaucratic blunders, flubs, goofs and foul-ups, and peppered with scandals, deception, dirty tricks and outright villainy -- the end of which is nowhere in sight."
But the appeals court said Lamberth was right about the Interior Department -- to a point:
"Although the July 12 opinion contains harsh -- even incendiary -- language, much of that language represents nothing more than the views of an experienced judge who, having presided over this exceptionally contentious case for almost a decade, has become 'exceedingly ill disposed towards [a] defendant' that has flagrantly and repeatedly breached its fiduciary obligations."
The case was heard by a three-judge panel that included Senior Judge Laurence H. Silberman, Judge Janice Rogers Brown and Tatel.
Yesterday's decision would be a professional insult for any judge. Sporkin, referring to his removal from the Microsoft case, said it "was not a good feeling, obviously."
Lamberth declined to comment on the ruling. An Interior Department statement said, "We agree with the Court that the rulings today present an opportunity for a fresh start."
But for Lamberth, the decision might also provide a measure of relief. The case has often seemed like a war of attrition between the court and the two parties. The case's docket sheet contains more than 3,000 entries and, at different times, Lamberth has held former interior secretaries Gale A. Norton and Bruce Babbitt in contempt of court.
"On numerous occasions over the last nine years," Lamberth wrote in the now-infamous July 12 memo, "the Court has wanted to simply wash its hands of Interior and its iniquities once and for all.''