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All these market up days and they coordinate that with knocking commons and ups down pretty much every upward market day....WTF are the chances of that happening as much as it has? Our government should change its name to politburo CCCP.
If fnma goes to 1.90, FNMAS goes to $5-6
Invite GAK over to ihub!sounds like I got a lot in common with him.
The more regular news I read, and follow the GSE's, the more I am inclined to believe Trump is going to do a shock and awe move around election time. They are already getting documents implicating Obama and his crew for the phony Russia-gate spying cover up of Trump and his administration. The Durham report will be out right before election, and there are suponeas that will be coming with that as well as jail time for some, add to that the made up impeachment based on the Russia-gate and Ukraine phone call. They are getting ready to corner Biden on him and his sons Ukraine dealings also around election time. So....why would he not throw the Obama GSE presidential privilege docs into that tumultuous volcano to show America just how law abiding the last administration was?
If he did that, it would be a no brainer for scotus' ruling.
Now that, I can get on board with!
Not one word about the continually falling jps volume!,,,No one cares.
Not on twitter (yet) but I would say Release consent decree. It would immediately up the price to help relist and shareholders would hopefully be reinstated to their voting rights, which are both important after effects.
I would think if government can put all other cases on hold to await scouts, then we are the banana republic that people fear.
Brooge
Pretty sure the only thing he trades is Pokemon cards.
This could be exactly why the share prices of the twins are being manipulated to stay at $2-3. When government are ready to relist, BOOM a day or so before the price will triple or more, then auomatic relist since the delisting was self induced.
Rumple, If I were you, I would demand a corrected post from the English professor. See the corrected post I responded with.
Quick to point out others are wrong.....very hypocritical indeed. Lol
Bradford would be wise to listen to that post. The gentlemen is stating exactly what a lot of us older guys on here have been stating for months.
Their conversion dreams are dead in the water.
They think they can amend the certifficate of designation while still in conservatorship! Lmao. The jps have no idea. That certificate/contract absolutely will not be modified. Even if the bod did modify it, like I said, anything affecting commons would be put to a proxy vote.
These guys remind me of the old tag line from the Robin Leech show...Champaign wishes and caviare dreams. Lol
Not an admission, sarcasm.
Sure they can, let's go with that, okay?
We'll see....
Okay, show me your converted shares genius.
I'll wait for your posted proof.
I'm sure after the release, when fhfa said the companies are responsible for their own cap raises, the bod will give you jps holders conversion after us common voters shoot it down in our first released proxy vote.
Wow 61k volume on FNMAS. And I thought they could not do worse then the 168k of yesterday. Someone obviously in the know about a conversion, cram down, par windfall palooza for the JPS crowd.
Lol, lol, lol
I'd laugh more, but that volume is just so sad.
What do you guys not understand about the statement "the companies will be responsible for their own capital raise plans"
That's not conversion terminology genius, that's only for if they amend the jps cert of designation contract. The bod would first propose any change, and if the change affected commons, there would definitely be a vote. Bod is not that stupid, sorry
Yep, delusions of grandeur.....or is it dilution of grandeur? Lmao
I think Bove changed his tune after sitting down and actually reading one of the prefs certificates of designation, aka their contract rights.
I suggest you read the certificate of designation for your preferred shares. I posted very important points from the FNMAS certificate. Conversion is not allowed, nor pre-emptive rights.
FNMAS certficate of designation part II.
#5 Its in your contract! No conversion rights.
#6 No pre-emptive rights! Means you can not coat tail a common offering to get rich quick.
#7 only one voting right is they are allowed to vote if BOD changes the certificate of designation. That's it.
#8 is particularly interesting. Let's offer new pref's!
How many of you JPS holders have actually read the certificate of designation? I would assume zero based on the investment theories bein floated by you all.
5. No Conversion or Exchange Rights.
The Holders of shares of Series S Preferred Stock will not have any rights to convert such shares
into or exchange such shares for shares of any other class or classes, or of any other series of any class or
classes, of stock or obligations of Fannie Mae.
6. No Pre-Emptive Rights.
No Holder of Series S Preferred Stock shall be entitled as a matter of right to subscribe for or
purchase, or have any pre-emptive right with respect to, any part of any new or additional issue of stock
of any class whatsoever, or of securities convertible into any stock of any class whatsoever, or any other
shares, rights, options or other securities of any class whatsoever, whether now or hereafter authorized
and whether issued for cash or other consideration or by way of dividend.
7. Voting Rights; Amendments.
(a) Except as provided below, the Holders of Series S Preferred Stock will not be entitled to
any voting rights, either general or special.
(b) Without the consent of the Holders of Series S Preferred Stock, Fannie Mae will have the
right to amend, alter, supplement or repeal any terms of this Certificate or the Series S Preferred Stock (1)
to cure any ambiguity, or to cure, correct or supplement any provision contained in this Certificate of
Designation that may be defective or inconsistent with any other provision herein or (2) to make any other
provision with respect to matters or questions arising with respect to the Series S Preferred Stock that is
not inconsistent with the provisions of this Certificate of Designation so long as such action does not
materially and adversely affect the interests of the Holders of Series S Preferred Stock; provided,
however, that any increase in the amount of authorized or issued Series S Preferred Stock or the creation
and issuance, or an increase in the authorized or issued amount, of any other class or series of stock of
Fannie Mae, whether ranking prior to, on a parity with or junior to the Series S Preferred Stock, as to the
payment of dividends or the distribution of assets upon dissolution, liquidation or winding up of Fannie
Mae, or otherwise, will not be deemed to materially and adversely affect the interests of the Holders of
Series S Preferred Stock.
(c) Except as set forth in paragraph (b) of this Section 7, the terms of this Certificate or the
Series S Preferred Stock may be amended, altered, supplemented, or repealed only with the consent of the
Holders of at least two-thirds of the shares of Series S Preferred Stock then outstanding, given in person
or by proxy, either in writing or at a meeting of stockholders at which the Holders of Series S Preferred
Stock shall vote separately as a class. On matters requiring their consent, Holders of Series S Preferred
Stock will be entitled to one vote per share.
8. Additional Classes or Series of Stock.
The Board of Directors of Fannie Mae, or a duly authorized committee thereof, shall have the
right at any time in the future to authorize, create and issue, by resolution or resolutions, one or more
additional classes or series of stock of Fannie Mae, and to determine and fix the distinguishing
characteristics and the relative rights, preferences, privileges and other terms of the shares thereof. Any
such class or series of stock may rank prior to, on a parity with or junior to the Series S Preferred Stock as
to the payment of dividends or the distribution of assets upon dissolution, liquidation or winding up of
Fannie Mae, or otherwise.
FNMAS certificate of designation
the number of shares initially constituting the Series
S Preferred Stock is 280,000,000, which number of shares may be increased by the Board of Directors of
Fannie Mae, or a duly authorized committee thereof, in accordance with Section 7 below. Shares of
Series S Preferred Stock will have no par value and a stated value of $25 per share. Shares of Series S
Preferred Stock will have no stated maturity date,
There will be zilch happening with jps Down for 4 days now, looking like the Bove article is sinking in.
FNMAS volume today 92,888. That is just sad. Getting more and more illiquid as big player dumpers stealthily off load their holdings while the small time pumpers hold tight and drown.
Great post!
Someone should of bought the drop the last three days on fnmas so they could buy the drop again today, because everyone knows fnmas is gonna drop more and more when the release happens.
You really need to get out of your basement more often...I thought MrFence or brooge sent you a map???
Could you show us your study/facts/proof that " it puts off a lot of people"?
For the record, it doesn't bother me.
Yep, that's what I am thinking also. Nothing to lose, much to gain.
Exactly why the government is washing it hands of DOING any form of a capital raise and is saying they will need TO APPROVE A CAPITAL RAISE PLAN instead, that the companies will be responsible for. This puts the onus on BOD and shareholders. This is what the JPS crowd fails to recognize and why I have been saying commons will be commons and jps will be jps, no special treatment via the government unless court establishes the need.
Jps have approached this as the government being responsible to do ALL the heavy lifting, but they are playing it very smart by not putting themselves into a position of having to play favorites. That way they can not be tagged later by those in Congress who would say they supported so and so friend investor, yada, yada, yada, etc. By having to APPROVE a raise they still have some control, but not hardly as much as if they went and did the raise themselves. Jps failing to recognize this is their own problem, and there are those who are still pushing their wrong assumptions.
Even though HERA says conservator can do a capital rraise, it does not mean him or the government has to, or how they go about doing it.
So no visits from Rocko and Benny Yet?
And it's a very, very short bus
Not surprisingly FNMAS is down 3 dsys in a row! I hope your buying the drop so you can sell the drop later. Lol
Funny stuff
That "cat" comment is funny as hell, and true.