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The companies will be responsible for their own capital raise.
Perpetuating a long gone comment from years ago. Catch up to the current comments of MC, please
Wrong, very wrong!
Sticky!
Government can't give what it does not own. Perfect
That could be...
Nice retort!
It's not the taking of the case that I am worried about mrfence. It's the amount of time we will possibly face still in conservatorship while all of DC is focused on a replacement battle. Remember Kavanaugh? All the mud Dems tried to sling. Took months and months,,and it was all both parties were pretty much focused on.
Sometimes I really wonder if we will ever catch a break. Seems Murphy's law is hard at work against the GSE'S.
This could really mess us up!
https://www.cnbc.com/amp/2020/07/14/supreme-court-justice-ruth-bader-ginsburg-hospitalized-for-possible-infection.html
If she kicks the bucket now, all out war will ensue in DC for a replacement justice, which would mean we get put on hold forever until the kids in DC get their bickering and fighting out of the way and appoint a new justice. Dems will try to stop any appointment until after election, for sure.
I'm with you! But if by small chance he did somehow, the gloves will come off for Republicans inauguration day. So Gasparino is dead wrong.
Gasbag just trying to see if he has enough clout with his rumor mongering to scare MC & SM.
JPS purchase contract, more no bueno info:
The Preferred Stock will not be convertible into or exchangeable for any of our other stock or obligations
and will have no preemptive rights.
The following are deemed not to materially and adversely affect the interests of the Holders of Preferred
Stock:
‚ any increase in the amount of authorized or issued Preferred Stock; or
‚ the creation and issuance, or an increase in the authorized or issued amount, of any other class or series
of our stock, whether ranking prior to, on a parity with or junior to the Preferred Stock as to dividends
or liquidation or otherwise.
5. No Conversion or Exchange Rights.
The Holders of shares of 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.
Wow, the short interest in the past month or so has gone 180 from fnma to fmcc, I wonder what's up?
See my jps purchase contract posts, no bueno senior
From JPS purchase contract, more interesting FACT:
We have the right to create and issue additional shares of Preferred Stock and additional classes or series
of stock that rank, as to dividends, liquidation or otherwise, prior to, on parity with or junior to the Preferred
Stock, without the consent of holders of the Preferred Stock.
BOD can issue new prefferred's to raise capital that rank higher, like the current seniors, leaving current jps further down the dividend ladder! You guys say the share structure matters.,Lol
No bueno....I wonder how many new prefferred's with a lower dividend will be created that will get their dividend payment while current jps languish?
Very interesting and contradictory paragraph from the jps contract.
In general, the U.S. Department of Housing and Urban Development (""HUD'') and the OÇce of
Federal Housing Enterprise Oversight (""OFHEO'') oversee the activities of Fannie Mae. HUD has ""general
regulatory power'' over Fannie Mae. The 1992 Act established OFHEO to ensure that Fannie Mae is
adequately capitalized and is operating safely.
Preemptive and conversion rights from JPS purchase contract:
None
No bueno 8-(
More from JPS purchase contract: listed under redemption,
Holders of Preferred Stock will have no right to require the
redemption of the Preferred Stock.
No bueno, you can not force redemption via conversion.
From JPS purchase contract:
Our obligations under the terms of the Preferred Stock are only our obligations and are not those
of the United States or of any instrumentality thereof other than Fannie Mae.
No bueno, still think government is going to force par or conversion for you? Lol
Hence this bit of JPS advice:
A fool thinks himself to be wise, but a wise man knows himself to be a fool. It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.
Scotus will not release any decision, if it is perceived as too politically charged, around any election time.
This is a known fact.
Well, if ya think about it...the guy was CEO of a company who had to regularly report to various committee's of congress.those folks are as slow and as dense as they come when being talked to about the GSE businesses.
Thanks! Good positive article.
JPS : take note, article says if congress does not help with a backstop.....
Do JPS THINK congress will back stop the GSE's if they allow jps to walk away with any high par or conversion scenario? Lol dreaming
Rumple not wrong. Calabria says IF, PERHAPS - he did not know, he was guessing.
I WOULD UNDERLINE THE TREMENDOUS NUMBER OF UNKNOWNS. IT WAS TOUCHED UPON, IF WE HAVE A NUMBER OF FORBEARANCE LOANS EVENTUALLY GO INTO DEFAULT, PERHAPS FORECLOSURE OR SERIOUS DELINQUENCY, WE'LL HAVE TO TAKE THOSE LOANS OUT OF POOLS, PUT THEM ON TO THE BALANCE SHEET.
Soooo, looks like he'll be one of the guys falling the hardest.
Congress: "No windfall for hedge funds investors"
Seems I've heard that quite a few times somewhere before...
I really, really, really hope the top 100 of those docs get either released or Wikkileaked.
Hey! I bought 4k shares last week...hope it helped ya out.
Mega sticky please
Great synopsis once again!
Absolutely....agree.
Thanks Yank
Very well thought out and presented. Expose the hypocrisy! JPS really think government is that stupid, or JPM and MS. I've always said their conversion perversion was laughable. The best shot they get is dividend reinstatement or maybe bought out at 50-70% par.
Me thinks FFFacts is short or jps in hiding, pulling cloak and dagger underhanded stuff. Like Kthomp, obfuscation of truth to come off as knowing all.
This is true. I belong to fidelity and trade my fnma shares through my brokerage there. It has been publicized that Fidelity as well as other mutual fund companies have taken pretty good size share positions in the GSE's. Chances are it helps their trade desk to be more profitable having shares on hand also.
I just hope the articles and news keeps flowing....it sucked when we were held in that news vacuum captivity awhile back. So any news or article is good, the more the public reads that is truth, the better off we will be.
Ooohhh for sure, it's common sense canceled's feeeeeewings
BTW
Sell the FNMAS pop because everyone knows FNMAS gonna drop hard next week.
That's a great idea.
Lol, lmao. Ain't dat da truth.....lol
That quote of his is 100% pure jps propaganda. The jps are forming their play book on current Democrat and media madness
Oh heck yeah, I agree!
+1
Read yours after I replied also to rumple. We got your back dude! Enough of this jps bs
Rumple,
I don't understand how people on here do not see all those events not moving the stock price...and what's even stupider is they expect the government to do their cap raise, and in doing so will reverse split, conversion, yadda, yadda, yadda infinium all B4 release, dumb. This is ignorant to ignore the fact that the government knows the market will have nothing to do with any capital raise if government has their hands in the cookie jar still AND how reading impaired are jps when it has been stated in numerous articles "the companies will be responsible for their own capital raise". Read the writing on the wall jps, will ya? Government is not going to give you a cram down, government is not going to give you a conversion, government is not going to give you par. Only the companies will be able to (wait for it....)after they are released which brings the corporate governance rules and laws back into play....YES, shareholders will have say in the capital raise because this is how it's done, that's even if it's needed after cancel of sps, overpayment return, warrants canceled or sold back, etc. Many things can make common go up, up, up.
Again,,the companies will be responsible for their own capital raise.
Why do ya think the government needs this to happen? How's this for ya....I'm from the government and we got the GSE'S by their jewels but I got a ton of shares I need to off load on you investors.....you get the picture?
This statement also pretty much telegraphs what the process will be, and that is AFTER settlement or court cases settled and NWS, SPS and warrants issues gone or settled then it's consent decree or possibly release if cap level is hit, uplist, shareholders reinstated vote, and only after that do you get to an offering. This is simple logical chain of events,,yet jps pumpers keep trying to rearrange the duck, duck, goose game chairs to fit their imagined windfall.
Well stated,,exactly -agree