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How son is responsible for parent's behavior?
Did crooks who caused 2008 crisis ever paid any price?
Did crooks who caused FnF conservatorship and NWS ever paid any price?
Need to sort in order of severity of bad deeds.
What about James Lokhart, judges, attorneys, auditors, big banks, WSJ, media
In July 2008, before conservatorsip FnF had $98B capital as per James Lokhart FHFA director.
Today if FHFA or Courts were to cancel NWS retroatively and adjust dividends payments against 10% interests and sr. pref. debt as per original SPSPA retroactivley, then FnF will be left with more than $187B core capital.
Then FnF only need release and relist.
rekcusdo,
Welcome back. Your opinions add great value to discussions on this board.
"what precedent has been well established that the two judges in the majority blatantly ignored and only Brown kept to ? "
1. Definition of Conservator
2. FDIC/FIRREA
Why would not Obama officials say something about this controversy?
Probably this information is hidden in still undisclosed documents.
Donotunderstand,
Congress passes laws for all Gov income/sources and all spending.
Congressional law is required to borrow also.
NWS income and these specific ACA spending are not part of any such laws. So it very easy to co-relate NWS income and ACA spending.
If it is officials, nothing happens because they do it all the time.
Even when they are caught it is all about protecting taxpayers.
If it is private citizen then it is serious thing.
Pittkid,
Yes, they lied to all including FnF shareholders, MBs holders, also investors who did not invest in FnF, and all public.
It does not matter if some people do not know or not interested. It does not matter if some people are affected by it or not affected by it. It was a public lie to mislead all and benefit themselves and their crony friends.
It was done surreptitiously to hurt publicly traded systemically important companies and shareholders. It is a serious financial crime if done by private entities, and even more serious if done by conservators and regulators.
Donotunderstand,
It is simple to find out whether NWS is used ACA or not.
There is congressional Appropriation bill for spending and there is corresponding actual Gov spending. So if one starts removing all these matching line items then you will are left with ACA spending without congressional Appropriation. Also you are left with matching unapproved NWS income to pay for ACA spending.
Appropriated funds are not fungible in a sense that funds allocated for different programs can not be co-mingled even though all the funds come from general funds.
How is that no one from DJT or Obama adminstration has ever denied about this? Tsysy Mnuchin affirmed this without denying it.
Donotunderstand,
People use "" to refer to exact text of what other say.
Otherwise it is not exact text.
along4zride,
Thanks for confirming that Obamacare subsidies are paid from FnF profits.
But it is unlawful to raid/rob private companies to pay for Gov spending for welfare programs. It also unlawful to spend without congressional appropriations.
FnF shareholders have no specific views as long as money for obamacare spending is not robbed from FnF. The money should not be spent without congressional appropriations.
FnF shareholders sympathize with poor people like you who can not afford basic health care. But the solution is not in creating more poor people by robbing the life savings of people who invested in FnF. Also the solution is not in making affordable housing un-affordable by handing over FnF business to big banks.
Also the solution is not in becoming poor so as to become eligible for obamacare subsidies by foolishly shorting FnF shares and losing all the life savings.
Gov can legally generate much more tax income in billions from FnF shareholders and also from related economic activities to pay for obamacare if FnF are returned to lawful owners - FnF private shareholders.
Also one can invest longterm in companies like FnF when the pps are artificially depressed and forget about obamacare.
Clark6290,
Other than calling others naive, what have you contributed to this MB that can be called any better?
Only things you are saying is that short are going to win with their bets and longs are going to lose. People will not hang around, on such MB for any entertainment.
You have been saying that you are long on FnF shares. But it is only naive thing to believe that.
Anyway you are welcome to contribute on this MB with your naive views.
There is no protection when challenged under the constitution.
FHFA and deep-state Judges have blindsided all with misinterpretation of HERA.
Clark6290,
Perry appeals ruling was first substantial win after copy&paste rulings in lower courts.
Plaintiffs can and will win their cases by thousands of such wins or defeat the fake conservator by thousands of such defeats.
Defendants have to win in all the court cases but Plaintiffs only have to win in some of the cases. Plaintiffs will learn from their losses, they will refine their arguments, and plaintiffs still have unlimited number of chances to file the cases.
The most important thing is laws, facts, public and taxpayers interests are on the Plaintiffs side.
Currently it is the deep state bureaucrats and lawyers that are trying to prevail against the will of The People.
Donotunderstand,
You have taken the words literally. Just take the meaning.
There are no better words to describe the powers claims made by the FHFA conservator and also ruled by the courts.
Word "the emperor" has been used to summarize the broad powers of FHFA that are not subject to any checks and balances, and not subject to judicial injunctions. It has been also used to highlight the broad powers of FHFA to provide immunity to others to violate any laws with impunity.
Where in the world people get such powers without being a dictator or monarch?
When some one says "King Bummer", then does it mean that Bummer was ever a king? Is it not during reigns of "The King Bummer" that the "The emperor Conservator" was created?
For sure, you have missed the essence and spirit of it.
What are you expecting from this MB?
I guess one can not sue Gov officials personally for their official conduct... But can file a complaint against Gov official for personal conduct.
Even after knowing this very well, these reckless judges have ruled that facts of the case do not matter. These judges have ruled that FHFA conservator is The Emperor as per HERA putting FHFA conservator above POTUS in power structure.
As a most powerful person, The POTUS can only pardon. POTUS can not provide immunity to others to violate the laws. POTUS can not violate the laws or allow others to violate the laws.
However FHFA director in his court filings claims that FHFA director can legally, not only violate any laws with impunity but can also can provide immunity to others to violate any laws with impunity. These reckless judges have ruled that they agree with FHFA director. This provides good cause for POTUS to fire FHFA director any time. These judges may be due for impeachment.
It should happen in front of offices of FHFA, SEC, FnF, opposing lawmakers, Courts, MBA, WSJ, ...
It is counter productive to make it personal.
Massive accounting losses, massive asset write offs and SPSPA were all designed to be foolproof concrete life preservers. But it did not work.
So they went for dirty option and used NWS that would keep FnF on life support until they pull the plug. But these people did not anticipate shareholder lawsuits, long drawn conservatorship, DJT victory and discovery revelations.
It was supposed to be quick and dirty job but it made FnF even stronger. Now all these people are out of power and out of favor with current administration.
Now plaintiffs have used nucular opton with constitutional challenge to HERA. Conservator has chosen to dance alone if necessary. Mnuchin in deference to Congress, has been waiting for congress to resolve FnF conservatorship. Mnuchin is suppose to start work on this during second half of 2017. Expect good news any time.
along4zride,
Thanks, I assume you are an expert trader with no specific bias against any business or FnF.
Currently short traders face formidable odds.
Below are the reasons why I am long on FnF stocks and my response.
---------------------------
There are many just waiting to take over FnF business.
Is this not what is going on since FnF were created about 70 years ago?
FnF business models are very solid even with punishing Gov social mandates.
After 2008 many Hedge funds submitted proposals to buy FnF without Gov guarantees and without their loan/MBS assets. It did not work.
How many times did GOP lawmakers have voted to repeal Obamacare when they knew for sure that it will become law, after voting more than 50 times knowing for sure that it will NOT become law? BTW Obamacare affects just few millions with pre-existing conditions.
But FnF are thousands of times more consequential than obamacare as it affects the whole nation. It is easy for people without any burden of official responsibility to make reckless statements like asking conservator to try drawing $10B from tsy to see whether markets will crash.
Like this we have seen hundreds of experts and lobbyists recklessly and cluelessly coming up with proposal to dismantle FnF and handover FnF businesses to big banks along with Gov guarantees. There are many unanswered questions and huge obstacles to these wishful proposals.
1. How to dismantle FnF without massive disruptions to markets and uncertainty? Even hardline FnF detractors like Hank,Ben,Tim,Ed and fellow travelers could not do it.
2. How to trust big banks to take this huge responsibility after numerous previous bank led crisises and 2008 crisis. Will investors ever trust banks and invest in bank MBS even with Gov guarantees?
3. Gov guarantees are only valid when banks strictly adhere to loan origination conditions. How can MBS investors be sure that Gov will honor guarantees, if banks once again engage in fraudulent practices? What about investor experience with fake conservatorship?
4. Are big banks really interested in FnF MBS, with very demanding Gov regulations, controls and politics? Or is it big bank led posturing to get big concessions from Gov to restart their PLMBS business? Will banks, ever be able to match the high standards set by FnF?
3. Will congress and administration ever agree for explicit Gov guarantees?
4. Will powerful community banks and other stakeholders ever allow big banks to take over FnF business?
5. What about existing shareholders and lawsuits?
6. DJT administration is no obama administration. Obama knew nothing about FnF business and relied on appointees from big banks. There are numerous real estate and finance experts in DJT administration and they know who and what caused 2008 crisis.
7. BTW DJT is a long proponent of breaking up big banks and bringing back Glass-Steagall laws. Why would DJT handover FnF business to big banks and make them even bigger and more risky?
8. Why would DJT wants to en snarl his 2 terms with this lawless conservatorship mess created by the Obama adminsitration?
Why would DJT wants to derail his "Make America great" agenda with this heist and unconstitutional mess?
9. Obama administration has already stripped FnF of all the assets and spent $260B on favorite welfare programs. DJT administration has inherited bankrupt FnF. FnF Conservatorship pose grave risk to taxpayers with future losses and shareholder lawsuits. DJT administration has nothing much to gain from keeping FnF in conservatorship.
10. There is no single appointee in the DJT administration who is a FnF detractor unlike Obama administration that was full of FnF detractors.
11. It will add to list of DJT achievements, if FnF conservatorship mess is sorted out for the benefit of all. It is a low hanging fruit for DJT administration. Resolving FnF conservatorship can be quick and easy without involving congress.
This guy is a big joke unless he has back end connections.
He uses language of pontification and never responds.
Otherwise it should have been 165 days instead of 75 days.
If nothing is going to happen in 75 days, why talk about it.
Probably it was public notice to all shorts like short derivative hedge funds and influential market makers to wind down their short positions.
Probably it was made public to so as to avoid "insider trading" conflicts, especially for hedge funds holding short derivative positions.
Lawmakers made sure that it is no longer insider information.
Essentially this was a gift to shorts.
Thanks for your views. These views had considerable validity during Obama administration but do not have any validity during DJT administration.
Most of the investors on this board are not experts like you.
So they would not listen to you when FnF PPS is on the upswing and all the good news keeps on coming.
Please keep on posting your views, you will find few to support you.
it was about WV Gov changing parties to become GOP Gov.
FnF can buy any conforming loans since there is no Gov guarantee.
GNMA are more restricted because of Gov Guarantees and loans are more cheaper.
To start with FNMA and GNMA were one Gov entity then they were split to take care of different business segments.
Clark6290,
Please stop misleading.
Please read on GNMA website.
"What Ginnie Mae does is guarantee investors the timely payment of principal and interest on MBS backed by federally insured or guaranteed loans — mainly loans insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Other guarantors or issuers of loans eligible as collateral for Ginnie Mae MBS include the Department of Agriculture's Rural Development (RD) and the Department of Housing and Urban Development's Office of Public and Indian Housing (PIH)."
Thanks navy for the article. If DOJ files opinion against CFPB structure that would be great news for FnF shareholders also.
Clark6290,
Despite gross misrepresentation in the article, how it makes a good article.
clark6290,
"The good news is that FNMA will have several billion to send to Treasury as Mel Watt refuses to dance alone."
Can you please tell us how this makes good news and for whom?
Nobody told Mel to dance alone. Mel on his own said that if it comes to dancing alone, he will dance alone.
So, is it not you made it up?
When did the SCOTUS rule like that?
This provision is from HERA.
Another option may be to challenge HERA conservatorship under "4617 (a)(5)(A)(5) JUDICIAL REVIEW", even though it requires to be done within 30 day time limit of appointing conservatorship.
Legal experts needs to opine on this based on deception and lies of FHFA.
Look at relative sizes of print media before few years and now.
Only problem is Gov owned and Gov serving courts are saying:
can not hear anything , can not say anything and can not see anything when it comes deception of FHFA conservator.
Thanks Great video.
Please email the link to POTUS, DOJ-AG, TSY-sy, SEC, HUD-sy, US/STATE lawmakers.
"Maybe. Maybe not. You cant generalize crimes like that with no evidence."
rek,
What do you think, why some one wants to operate under total secrecy, resists judicial review, resists accountability under state and federal laws, resists openness/transparency, offers immunity to third parties to violate state and federal laws.
Here we are not talking about nothing no burger investigation with no evidence so far. Here we are talking about most profitable private shareholder companies under Gov conservatorship for 9 years involving assets worth trillions of dollar and profits in the range of $10b to $20B.
BTW one of the financial auditors opted to settle the case under seal against the wishes of Conservatorship. There are allegations of money being diverted to slush funds and ACA subsidies without congressional appropriations. Hank TsySy alleges in his book that Russians wanted to involve chinese to short the MBS and disrupt US markets.
This is an ultimate lawless legacy. Shareholders and public have the right to know the truth.
DJT needs to demand independent investigation where he has inherited this lawless legacy/mess from previous administration.
Todays small time News media can become tomorrows MSM.
CNN has roots in billboard business.
Yesterdays big print media are going out of business.
Look at how microsoft, apple, facebook started.
In todays world it belongs to online media.
Aggressive online media like Infowar have potential become big.