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Navy, exactly right about public actions:
Watt took on Corker and his ire.
Mel has warned twice about the situation.
Mel has said it is on him.
Mel has said he will do this on his won if need be...
Mel has done all of those publicly and seperately, so he has warned them to do something or he will.
Now Mel will act is my guess or look a little silly.
probably not, but it would be an opportunity for some cheap shares...
Wells Fargo busted AGAIN...
Screwing people on the auto insurance now:
https://www.reuters.com/article/us-wells-fargo-accounts-autos-exclusive-idUSKBN1AD29N
When an institution is inherently corrupt it comes out everywhere. I would not bank with these crooks...
Sweeney's time-line means we will find out soon whether she is going to trial -- and see such a trial in 2018.
My money says given the docs she has pushed into the light with the discovery she ordered... we are going to trial.
JMHO
But in Sweeney's court with an attorney like David Boies, with a photographic memory for all these documents, under cross examination these little men are going to have their lies absolutely stripped to the bone.
This happened to the tobacco executives, attorneys like Boies remember every detail of these docs, and the lies people tell about them, and under cross examination it ain't pretty to see these puffed up little men have their dignity stripped away. Yes, you are a mean, lying, duplicitous creature, aren't you? God help Ugleotti, Stegman, Parrot, et al.
Joe Light ain't no David Boies, lol. I do wonder when Light will wash up in the Breitbart gutter like Carney? Light's performance certainly warrants that station in the media world.
Yeah, my thought too. And this also roller coasters around, so also no problem with keeping some reserves to take opportunities when they come
Great minds. Sold 25% of my position too.
Chance this goes into December and panic much lower.
Ready to buy here too.
Thanks Nostrodamus... lucky you can tell when big buyers will come or not
Likewise. But I won't be disappointed...
Tough case to win that duress in biggest financial crisis of modern times did not exist. Though degree of duress is key...
Best I can hope for is that government issues its 4 billion shares AND a billion more for the recap -- I think we still get $20 for the resulting common shares we hold.
Remember Ackman's well done outline under which all warrants are converted, then common worth $23-45. And those are just starting prices, in the years after that I think we see moves up.
So I am not afraid of the warrants... they are the big incentive for the administration (PLUS how on God's earth does one deal with FnF's existing obligations with new entities, i.e. all the mortgages and bonds they back held by China, Japan, etc?)
Of course, since what MATERIALLY has come to pass? Nada.
Still got the threat of congressional action and bad administrative outcomes hanging over us. I agree neither is likely to occur, but still there.
SP is not going to move in big IMHO until a court, or FHFA director, or plaintiffs-Treasury-FHFA, agree to a legally binding resolution where shareholders have security with tangible ownership of entities that are free and with decent capital.
I expected a dip
Right, I have seen DIP financing in many, many bankruptices cases with just those features. This was not strictly DIP financing, but the situation was one of financial distress similar in nature so one can see why the company boards agreed - hence making the warrants legal.
Thanks for the comment which I agree with -- wish people would get past the pie-in-the-sky and urban myth stuff. There is huge potential here for shareholders getting 20%, or even 10% after dilution to refloat. (For example Moelis involves dilution, BUT it has demands for far too high capital, and still gets us to at least $12-15 to start... compound that over the following years by a multiple or two imho)
Unfortunately, I believe the boards of FnF, as your representatives, agreed to grant the warrants. Those warrants were granted and are held by the Treasury. This stuff about "collateral" is an urban myth...
I agree about much of what you say about the bad things that happened, but the warrants are held by the government and were granted by your company boards and are legally recognized at this point.
Get over it, they are not going away under almost any scenario that has a cat in hell's chance of coming to pass.
Stinks like Carney...
No case is challenging the warrants as far as I know and the company board agreed to those warrants in its agreement with Treasury...
Move on. Warrants are not going anywhere. Sorry.
I do think we get 20% of companies earning billions a year, so that is fine with me - plus some damages or other compensation (maybe some long-dated warrants of our own?).
Guido, I take $100 lol
But I also keep some to retire on too ;)
Longstanding shit-talker
Oh, I agree. I just trade 20% of the position in and out...
I think we have a ways to go, so trading a part of the position in and out through those highs and lows offers some opportunity.
I agree about the volatility though, why I bought my last lot a couple weeks ago.
Why not wait for the fat lady to sing?
Oh, right, that is the end of the show, lol
Over $3 is perhaps time to take a little profit, then wait to reload when the news gets stale and nothing else happens...
Tho Melvin might do his dance in August. God knows, you might think Mel wanted to help the poor, and middle class, by keeping FnF around. But we see what kind of a man he actually is...
Perhaps we take some profit after Mel does his trick and suspends NWS?
Navy, I am having fun all right. Loving it...
I will most enjoy getting paid for my stock, but I would also greatly enjoy seeing Messers Stegman, Demarco, Parrot, Sperling etc. be shamed, and hopefully prosecuted, for their planned, and concerted, violations of the laws of this country.
If Hensearling was at all adept as a politician, we would have an ongoing House investigation of this conspiracy -- I hope we shall see such an inquiry and Congessional hearings featuring Messers Stegman, Demarco, Parrot, Sperling etc. in the Fall.
Someone needs to tell Hensearling to do this, or suggest to Trump/Ryan to suggest Hensearling should do this... Politics 101 that this hurts the Obama administration and hence democrats very, very badly
Navy, steady, this is just a tickle...
The woodshed is when we go over $5, then $10, then $15...
Those days are coming now the judiciary has been made to look very, very silly: the government can do whatever it wants on FnF without any judicial review -- including breaking the constitution in numerous ways? Really?
Judges Ginsberg and Millet made great career moves, and covered themselves in glory, when they penned their increasingly INFAMOUS judgement...
And, at 3.30pm, like they did yesterday, the committee will vote no on the act put in front of them.
Yeah, docs are great to have but now they need to be ground out into some legal wins... and eventually victory.
With increasing evidence it is a matter of time -- but time it will take for a legal win
See what Trump/Mnuchin offer... or maybe they R&R and let legal chips fall where they may
Mel will only "suspend" the NWS payment, he has not got the guts to stop it outright... IMHO
But at least we avoid another draw
We have the Delaware case coming.
We have Sweeney's decision about whether to go to trial.
We have potential appeal in Perry and see whether SCOTUS wants a look (these docs increase the chance IMHO).
All manner of other legal fronts where these new docs get deployed...
Very positive.
Dick Bove was very precise and powerful about the seizure of private property under false pretenses AND then a cover-up to courts -- Rosner a little sloppy this time... "loan-sharking"?
Those analyst meetings about the new info are finishing, seeing some buying... going to see a lot more over coming weeks
Judge Sweeney is looking really good for defending the discovery process and pressing the government to disgorge docs they tried to exert priveledge over
Which Judge will look great, and get lots of PR, when she takes this to trial and eventually rules on?
In fact, looks like the whole conservatorship is now potentially in the cross-hairs... look for someone with deep pockets to fund law suits about that IF we see no settlements.
I think we see more docs, with still worse revelations, over coming weeks: though the email chains we now have show all the key actors (DeMarco, Uggeloti, Parrot, and others) have not been *ahem* forthcoming about actual motives and course of events... I look forward to seeing some of Gene Sperling's emails soon, those would be really interesting although they may still be trying for Presidential priveldge over those...
Did this group at FHFA lie to the President as well? Did they lie to the President's advisers? Or did the advisers lie to the President? Or did President Obama know the details of what was being done at FHFA and Treasury?
Pretty clearly, these folks broke the law Congress passed with the goal of advancing their opposing policy goal of removing FnF. These folks then lied to the courts and sought to cover-up their abuses with blatant abuses of priveldge claims... The abuses go on and on.
Let's all go to court! This stinks to high heaven and now all documeted... Get David Boies after this guys in cross.
nice, Dick Bove coming hard and tag teaming nicely with Josh Rosner -- pinhead anchors cannot see a story or have orders not to go there.
And prove government knowingly lied to courts about it motives for NWS
These docs show government itself knew and accepted Fnf would be profitable
They tried to downplay and undercut the McFarland evidence - now we see the government has lied to the courts on quite few occasions, including to Lambert court
This evidence will be important when Sweeney decides whether to go trial - beginning to think she must given these abuses
At least a little today... but we have a long, long set of rides coming ever upward over the next year
Evidence finally in hand.
Giddy up!
This what leaked last week
Judge Ginsberg and Millet could well get rightly humiliated on appeal for their travesty of a judgement - judge Brown's career can only benefit from her courage and clarity imho
BOOM - judge Ginsberg looks like a horse's ass: do we really want to go to great lengths to give our government carte Blanche when they are knowingly breaking the law and lying about what they do?
SCOTUS is going to love this...
Judge Sweeney has gotten sufficient material from discovery to go to trial is my prediction... let Fairholme's attorneys stick it to the government and lay it out for her
I am sure there is more to come... Mnuchin has been wise to wait
Stinkie, too right. Nice move on no public news... Looks like something is up.
Looking forward to the second half of the year. They (the Trump Admin) may yank the chain at some point with threats etc. prior to settlement talks and take us lower, but I think we will be higher by January since my guess is that NWS is gone by then.
Fingers crossed...
Keep the puritanical crusade off this board -- there is no reason for it lol
12 million shares already... back to some interesting volume
Yup, pretty face, but sticks to reading the teleprompter lol
What does that guy even mean? lol