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Same comment. Every single case from a divorce or small collection case to a billion dollar law suit starts the same way with same summons language. Absolutely no significance or anything to pin hopes on. I am a holder of both FnF and wish us all luck. Just don't want us getting sidetracked thinking this is a development due to summons language.
Patswil, don't get excited about the language in the summons. That is boilerplate and is in every summons served and was in every summons beginning the outstanding cases. I am an attorney. I may be mistaken and I apologize if I am wrong, but your last several posts makes it sound like you think this is something significant. Believe me it is not. SOP.
Navy, any idea why the gap between FNMA and FMCC is widening? Used to be a dime and then worked its way down to even or a penny difference and now heading back up. I own both, so no big deal, but trying to figure out what is going on.
What happened to Berko's common stock?? He WAS very specific that the fund held Preferred.
Do you know the subject for the conference call, or is this just his regular call to report to shareholders of his fund.
Freddie FMCC is at 1.46
Sen. Corker is a crook, pure and simple. Lots of folks are in jail for doing far less. And Congress wonders why its members are held in such low regard.
December is also the month for tax loss selling.
Lew flip flopped later and still defends the taking of all profits because of the government exposure. Catch 22. Government has exposure because GSEs undercapitalized. GSEs undercapitalized because government is taking everything.
The legal fees are not being paid with taxpayer dollars. They are paid with shareholder dollars
Next up on CNBC. Corker story with outraged person responding.
OT. Dfw support group.
Let me in. I live in Little Rock but come to Plano several weeks a year and my wife and I play golf. Just hot back Sunday from a 2 week stay. Next scheduled trip is 10 days at Thanksgiving. Dallas and Scottsdale are my two homes away from home
Not a 180. No such luck. As they also say in their letter, that complicates the wind down of fnf
Historically Larry Kudlow has always been against FnF. He thought democrats had forced ownership on people who couldn't afford a home by subsidizing financing. He thought more people should rent and that FnF should be wound down. Why the change and is it genuine?
Kudlow has never been a supporter of Fannie and Freddie unless he has all of a sudden changed his mind (neither has Santelli). Kudlow was in favor of the wind down. Hope things have changed but he was on record as being for the wind down.
I am also concerned about getting a good decision on AIG, and the impact it will have on FnF. What do we do in the event of a bad AIG decision, start spinning it differently and distinguishing the AIG and FnF cases? Not comfortable with what appears to be a comfort level of getting a good decision. It could be Lamberth in spades, with comments negative of government actions, but no relief. That is one reason I follow this and other boards far too much. If bad decision comes, I want my finger on the sell. Do you not also agree that a negative decision would cause an immeditate large price drop?
I generally agree with you. I was referring to people saying in the hundreds. I would not still be in if it got to $25, but I do think what was done was wrong and would love to see double digits.
My memory was correct. Conversion rate is $25 PLUS any declared but unpaid dividends.
Preferreds have gained back more than half what it was down this morning while I was fiddling around trying to find out more.
Since you own both,do you know what the conversion rate is on the preferreds? Thought it was 25. I have owned only common but don't look for this to get above 25 so from that standpoint, it doesn't seem like it would matter that much. Some people on this board are dreaming IMHO about stock going to the moon. Berko primarily owns the preferreds and Ackman the common, so it looks pretty equal as I respect both of them. However, they are really handing Ackman his head today on HLF. Market down over 100 but HLF up 8.50.Real grudges evidently.
Thinking about selling my common and getting into the preferred at these prices. Doing some DD about preferreds now. Haven't been following them that long, don't know the conversion prices etc. But do like Berko, speaking of which, some of the hedgies are really trying to kill Ackman on HLF today.
Why are FMCKJ and FNMAS dropping today but FNMC and FNMA are not. Big difference.
Zeph, she is not a Senator. Obscure Representative from Tn, but at least she is trying to do something. Don't hold your breath for anything soon
Obama Transparent Presidency. Remember that promise? Well, he certainly has delivered. I think we can all see what his administration has been doing.
Mike Capuano. I don't do twitter or facebook. Could send an email though. Anybody know his email so I can thank him for his efforts.
Here is most likely how a 3 or 10 year mortgage. Can you say balloon payment. Only way you could have any kind of reasonable payment. So, instead of having a 30 yr mortgage, you have 5-10 3 year mortgages. You just keep refinancing at maturity. Really risky and unreasonable but more importantly, entirely unnecessary
Yes, Lumpina, we remember and one of those parties got a severe black eye for being dishonest.
Catbird, the thing you found. Any idea why it says the 52 week low was .01? Must not be real or just uses a dummy number. Can't figure it out.
They squashed it alright. Terrible
Today was a day trader's dream. Lots of money to be made by everybody. Long term, short term, buy and hold and day traders. Everybody but shorts happy.
Sold some fluff this morning. Will buy back this afternoon, if not tomorrow--hopefully
No I didnt. Not sure what you mean. Obama is not apt to give up the money and there is no money to give back. So I see him doing everything he can to continue receiving the payments. It has propped up his deficit situation. Only settlement he might be interested is a release with govt taking the warrants which would yield more to him in the time left.
Our only hope in the next few months is settlement or Congress, neither of which is a given. While I like Sweeney, only problem with relying on a judicial decision are the guaranteed appeals by the losing party. As an attorney, I can tell you that you can tack on another 2-4 years for any finality. Unless the judicial decision is a springboard to a settlement during the appeal process. You can forget any decision that gives any money back to the shareholders. Ain't gonna happen.
Don't get ahead of yourself. I agree with Navy that we are at least a year away. Have patience. If you get your gap, my fluff shares are gone. Core shares stay intact. You can make some money day trading fluff shares but I am not recommending it for anybody else, certainly not the faint of heart
No, I don't buy your Red Close. But I wouldn't be surprised to see some profit taking near the close
What is Mel Watt's salary?
Anyone know what Watt is being paid-to stall
Any news from BB conf call?
I agree. I meant he was not asked about it and went out of his way to mention the issue and make his plea.
Just heard the Harold Ford comments about getting F&F moving again and out of conservatorship. Nice to hear an unsolicited statement by someone like Ford, even though he is no longer in Congress. May be a groundswell of support is developing.