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Clueless. Are you saying that if payments went up 30 percent it has no impact. Understanding that 90 percent of the population lives pay stub to pay stub.
To pretend that these are viable possibilities that political parties will cause is ridiculous. The mortgage interest deduction is not that big of a thing. I don't think that it will go away anyway. The 30 yr is a huge deal. To ignore it is folly. I think that you need to do more research on what happens to housing prices with no 30 year. JMHO.
we'll see on all of this.
The problem with the "theory" that the 30 yr mortgage is not needed is this:
If we go to a 10 year variable rate mortgage that is backed only by private capital, housing prices would have to drop in half or worse. Maybe a few super creditworthy buyers can get 30 yr financing at higher rates. Do the math on higher rates or faster payment of prin + interest. The math is not pretty. What it does..... That wipes out a whole bunch of paper wealth in this country. You do housing crisis 2.0 and make it worse and more widespread and then the real problems rear their ugly head and we end up with the fastest, worst deleveraging since the great depression. Maybe worse. I am all for de-leveraging and wiping all the debt clean worldwide.
I have cash and precious metals. If we do that, I'm good. It just isn't going to happen in my opinion. Not a recco to buy or sell. Just math.
Short a few shares. I'm sure you will find willing buyers among the 20 or so hedge funds. We will need fresh buyers at higher prices.
Thanks
She's believable because of the book and story of Enron. Journalism and the press is the best way to get exposure and possibly movement on the issue instead of the courts.
Who knows if the story is too dry for the average person who knows nothing about what they do....
Agreed, Rick. I have been in the trade owning preferred shares since 2009.
Good luck.
It still is likely to be a long slog.
The problem is that this is entirely up to the courts unless enough political pressure is exerted to get a settlement proffered. Until the government openly says they will settle, this sits. Delay is the only game. Try to run out the clock. Delaware is different. The Delaware strategy is black and white. It has been affirmed many times. Last I remember was cox cable. I thought the net worth sweep was different, too. Didn't see that coming. I think that the press can get a settlement by bringing out the truth. I speculated in this. Yes. But 2/3 of the shares I have were bought before 8-17-12. All shareholders need to be treated the same, though. That's America and American.
This may continue to fall until a court rules properly. Then appealed. Then likely Supreme Court. Long haul. Many opportunities to trade in common. Buying here and buying lower should be tradable. Don't invest all your powder. I'm betting with the smartest hedge funds and attorneys in the world now. It wasn't like this in 2009. It was lonely back then. Gator Capital and Kyle Bass were the only ones that were in. I bought more as they bailed their positions. Simply because of the 5th amendment and thinking about the Bear Stearns situation. Not a recco.
I remember at one time the only high profile advocate/investor was Ralph Nader.
The only one....
My how things have changed. 20+ high profile. 3 or 4 of them very vocal.
That's cool. My first financial tv show...
NBR. Paul Kangas. Cassie Seifert. Had the hots for Cassie.
Agreed. Only the checks and balances that the judiciary can provide will stop officials from imposing their own will for political benefit.
Bill Griffith, Sue Herrera, Neil Cavuto, Ron Insana. Dan Dorfman. Ted David. Those were the originals I remember. Maria, Joe came later. New kids on the block. David Faber was a baby. Joe and David broke news and started to become news breakers and fun to watch. Loved them just kickin' it like it was just a bunch of fun.
Dorfman left in infamy. Insider trading. He even looked like a mobster.
I don't think that it will. Just my opinion
Remember they used to call it "The money wheel". My little brothers' friends made fun of me until investing became cool....
I was watching CNBC in 1991-92. Been around longer than 20.
They can't agree what to order for lunch. This won't get out of committee. Only way is if it is simple and both sides agree. Like housing trust fund and escrow capital account only. Odds still low, though.
They own significant quantities of MBS agency debt. They will want continued reassurance that we will pay on it with no ding to the principal.
You say "once cleared" like a convict who was forced to confess a murder that he didn't commit. Still waiting for his good name to be restored....
Then I am out of my mind. I bought 2 shares. I own other ones but got them at 4950 and 5250
All depends on what happens. I think the common has more upside but have none. I am 100 percent in the preferreds.
I'm one of the few people that has said for some time that a judge will cancel the warrants.
Not a recco.
No. He was buying preferred before Ted knew hwas a twinkle in Fannie's eye. He's just a smart guy who knows his $hit.
Not on rumors. I do like the Post saying that the company's financial condition was mis-stated for years.
I kinda liked Duke's of Hazard. Daisy.... I think that was Friday night.
It will probably happen on a Sunday night. The stock will tell us on Friday if that happens.
Bout' time I can drive my own friggin car. More like getting the car jacker pulled away after stripping half the car down.
Isn't it POP-A-LOCK?
800 POPALOCK
That was a very serious post, Holly. Especially the cute part. She better be gorgeous. I have very low expectations given his picture, though. Tough to cover a hunch back with a brown paper bag. What do you think, Holly? Ugly cousin?
That's cute. Will he be posting with a binky like you told me you do? My ex wife's best friends' brothers' nephew w I l be posting while I go to Haiti for my 3rd cousins friends' dad's wedding to his third wife. It will be heavenly. I also expect respect. Especially from you cousin. Is she cute?
Hope is NOT a strategy. What is your strategy for covering? My strategy is to hold pending the outcome of the lawsuits the hedge funds filed. I bought before they got the preferreds. Hope is not a strategy. Buying a profitable business that is viable and confiscated without due process, compensation or shareholder vote is both illegal and un American. Have you researched conservatorship in America? Case law? Common law? Past congressional actions on companies in good condition after the need for conservatorship has passed? Laws regarding receivership. Statements made by the head of Treasury in '08? The written conservatorship documents drafted in '08? A conservator's responsibility? Fiduciary duties, responsibilities and obligations? Statements regarding the soundness of fannie and freddie by the head of FHFA in December 2014 to justify the decision to fund the HTF? What are you going to do?
This is a thing of beauty. Using Watt's public comments on the issue to show that the depositions are not an issue and that he is certainly ok with it since he doesn't lay awake at night thinking about little guys like me. Too good. The lawyering begins. ..
He will be long gone by then. I just want him to remember.
GM had no cash or access to capital. FNM AND FMCC had both. GM actually went through the courts for rship. Although it wasn't fair for some bondholders, it was adjudicated and decided. The bondholders still got a share of the company, etc... being short overnight and on the weekend must be especially scary. I can't wait until the days when Ackman, berkowitz, ichan, John paulson, perry and other investors cheer the day when shareholder rights are upheld. Shorting against twenty hedge funds is not an advisable thing to do. Remember this post when it happens.
Three words: Follow the money.
That could be the reason for the volume in preferreds. Or not....
No. Not until after they lose the injunction.
Bruce berkowitz
Ackman
Ichan
Perry capital
Paulson....
The list is long. I guess you just don't want to get beat up by the "big dogs"
Little dogs need to stay out of the way. Might get hurt trying to touch their girlfriend. I got in before any and all except perry.
Preferreds up marginally in heavy volume earlier this week. The last few times, commons followed. Nice to see you have a disciple now! Congrats.
Not true. Preferreds can settle for any amount and not wipe out the common. I own zero common. But.... I still believe that the warrants will be canceled. Scary for shorts. Negative rebate and any minute. ... boom. Wipeout.
Good song, too.
Nice misleading start to your post. Nice to see you following alongz. You seem like a good follower