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Hammer the facts Chess!
Trump appoints ACB to SCOTUS! This is going to be good for us. She is a strict constitutionalist, so good bye HERA. Good bye NWS.
I bet Bove changes his mind...YET AGAIN, now that his thesis is pure garbage. It was a stretch to begin with, but now...lol The guys washed up, needs to retire, enjoy his tapioca, and start handicapping bingo tournaments.
Really ticks me off no one (MC, SM, DT, and numerous investment people and companies) are not asking the hard questions like, how do you keep the next president or Congress from stealing via some unconstitutional law again?
That fits with what I've been saying. 2-maybe 3 years of retained earnings with no dividends for anyone or bod stock option bonuses.
Fantastic! Yes. That is my very point.
You have a more eloquent way of stating it. Thanks
What has MC/FHFA done to insulate the twins from congress? Why is this not part of the capital rule? If having 240 billion is required to cover losses without any government backstop, then stands to reason Congress better keep their filthy paws off of the GSE's and not manipulate them anymore. Why doesn't the cap rule have a section about this? If FHFA is regulator and conservator why has it not pointed this interference out and tried to insulate the GSE's as much as possible from Congress?
You all know what's coming, don't you?....once the GSE's hit 240 billion Congress will be salivating just like with social security, or the next socialist leaning president will be, and they will once again take over rob and rape the GSE's. They will find some way to plunder what is not theirs or make up another banana republic law. If there is no law preventing this, no stipulation in the cap rule at minimum, who does not believe this will happen again? Especially if SCOTUS only slaps the government on the hand.
I liked that point in the brief!
Thanks for updating the crew!
Big back slapping reach around party that never touched on the biggest culprits of WHY so much insurance money is needed.....the government and the congress's corruption and bastardization of the twins business model.
Notice they failed to mention how the GSE's are supposed to cover for the biggest risk out there........the government, congress.
Notice how quiet Kthomp is? Must be burning the midnight oil and going insane trying to come up with spin to refute all these pro shareholder Amicus briefs.
Technically the GSE's were an abomination on free market rules as soon as congress started manipulating the twins CEO's and business models. By trying to socialize housing for years. Many Libertarians despised this. If it wasn't Democrats pushing affordable housing it was some Republicans making it easier for financing of mansions for millionaires. That is how GSE's became the political football and pariah they are, and are both run down on both sides of the aisle now a days. Here's the problem in a nut shell: government can't live with them, but can't live without them. They need to learn to keep their grimy hands off.
Nice pic of jps_converted and Kthomp. Lol
Todd Sulivan does not seem to follow the housing trend! There is far too much money right now chasing far to few homes and the problem keeps geting worse with all this virus upheaval. So housing will be golden for a long while. Takes a lot of time to build housing inventory, especially in cities. Mark this post!
Exactly right GAK.
jps posting on here about a massive dilutive conversion slam down do not know what they are talking about. Even those that are advocating a 1 year time length for cap raise are not seeing the big picture. The only way they do a one or two time shot next year is if the twins are awarded enough through the court cases to meet the mid to higher cap number. If any reward still means a large required raise then we are on a 2-3 year road to the 254 billion number. That does not bode well for jps because they will be at a stand still with no dividends until we get higher capital.
Jps will not be offered the unlimited growth potential of a conversion without paying a price, so the chances are far greater that if converted they will pay a premium of their jps position to attain that growth up shot.
How long have you been saying this, yet it never happens? Maybe youre just dead wrong and desperate?
Yep, government will start picking winners, which will be them, themselves, and them. Screw free market ideological following.
This is also known as first step banana republic conversion.
That's a fantastic find guido! I do hope numerous justices read it.
Not hard to absorb at all and immune to the Kthomp spin room. Lol
JPS to $5 or under as big holders bail! Better run for the hills before the big hands do a joint week of selling jps.
That would be correct. The law of Wall street goes something like this: you move your feet, you lose your seat.
If you do not have the intestinal fortitude to see it through and sell, well.....
Nice! Tim is friend of the companies and shareholders.
How long before Kthomp tries to respond to this with a point by point "spin" no one is dumb enough to believe? Lol
Thomas Jefferson knew....
Quote
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Always wondering, post of the day!
They will either shoot to capitalize the twins or placate taxpayers, they can not do both. Especially if 254 billion is the number. Taxpayers have had their azz's wiped, powdered and perfumed already via GSE stolen funds, mortgage relief, etc. THEY HAVE BEEN OVER PAID.
SM and MC need to stop, drop the taxpayer whole BS line and focus on capitalizing the twins. Either that or liquidate the twins and give all the money to the taxpayers (government slush fund) and let housing go to hell in a handbasket. Enough talk of taxpayers being paid. Many other bailed out companies never made taxpayers whole, GM - Chrysler anybody? Not to mention a few banks, so STFU about taxpayers getting more and get on with righting this cluster-F conservatorship.
Warrants are moot, catch22 for government. No capital raise while government owns any part of the GSE's more or less 80% plus seniors. Who wants to jump in bed with the government besides us crazies already here? When government took these companies over, many left. No one foresaw the raping and pillaging that would follow.
The government can't get out of their own way if they try to keep/maximize warrants or seniors while trying to do multiple capital raises. Makes zero, I SAID ZERO, sense.
Ask yourself...
Is SCOTUS going to see current Collins case as government taking over two busted companies? Or are they going to see a government who took over two companies and broke them in every which way possible?
Yeah, I'm telling ya! Sounds like Abott and Costellos "who's on first"
Curious to hear anyone's tea leaf reading on what you think happens if remanded back to 5th?
Yes, if anything, the justices should take turns making the final call on a decision.
Yup, lol
He's working for someone...and himself.
Bove to look like a real possible idiot now.
That would work well for us! She has the information background and the dislike of the justice dept lawyers. Lol
Hope so. It's gonna distract from us though. If Trump is focused on SCOTUS pick, he's got a lot less time for GSE's. I doubt that he has not been involved with this all along. So, are they far enough along, planned so MC and SM can get it done without his input?
Yeah, worried about Roberts. He may vote like RBG now that she is gone. If so, split. If he votes for what is right.....5-3
Bush and Obama both screwed this up from a bad situation to worse. Trump is trying to untangle their cluster-F of a mess, while saving as much of his administrations adding to the debt as possible. They're already under the gun due to covid rescue funds. AIG was never in the situation we are now left with, with the GSE's and congress. AIG was years ago when a tiny bit of sanity was sill present in half our government.
Did AIG have to raise 254 billion in capital? And did they have to await the creation and opinioning of a capital rule?
Did AIG have their BOD shanghai'd?
Did AIG have a SCOTUS case that can potentially reverse the whole conservatorship or return 100+ billion?
Was AIG run by the government for 12+ years and made to cover any and all losses in those years?
Is AIG a SIFI business? Would the world go on as normal if they ceased to exist?
Did AIG's capital get stolen to fund Obama care?
Does AIG have almost 3 trillion in mortgages?
Has a judge ever said AIG was taken advantage worse than the mob, or referred to in the media as being the victim of a stick up, Or had an administration official talk about their bod's heads hitting the ground?
Has AIG been currently forced to forgive mortgage payments?
NWS also, as someone (rumple?)Has already mentioned. That is a huge orange to compare to the tiny AIG apple.
You see...all the differences make for one heck of a different financial and future decision making process which I highly doubt is going to tow the AIG story line.
JMHO
If You can answer yes to all of these significant aspects/characteristics which describe a totally different situation based on meaningful differences, then by all means, make direct comparisons.
Exactly. Everyone who keeps comparing this to AIG or CITI, or whoever are doing apples and oranges big time. I could list 100 differences or more starting with the GSE's never saw bankruptcy because they never were bankrupt.
Everything regarding the GSE's, takeover, conservatorship, handling, etc is far different than any comparison anyone wants to make, I will list a huge one...The capital rule that solely applies to the twins. Name one of the other bankruptcies, liquidation, or conservatorship that had to look at raising 254 billion!
Getting real tired of everyone comparing things that are not comparable. You either find an identical situation or none. Do not compare this to some other half azz'd situation. This is by far way more important and complicated.
Can I see a show of hands for putting Congress into conservatorship?
Look what they have done to our debt. They've run the country 20x worse than the GSE's ever have. Maybe Congress should work without pay or benefits for awhile until the nation's ship is righted?
You know, just like us GSE investors have had to do without.
Can the lawyers point this fact out to SCOTUS? It would be great to get a group photo or video of Scotus after one of the lawyers points this out.
Tomorrow Dick Bove says rain with a chance of snow and maybe sun.
Lol
The guy is obviously on the take.
Get your snuggly ready....Biden is not gonna win.
I think people realize how far his cognitive abilities have declined.