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nope im coming with ya.
wwg1wga.
FNMA has four more trading days left this month.
Four.
shandalay fren.
Number 2 looks like a great idea.
someone else here mentioned that a time or two.
im gonna let someone else answer that one.
"we" do not have lawyers.
if you are refering to Patrick Collins lawyers...he said on an interview he was not concerned with the sweep.
they will just be ordered to pay it back as well as any other findings from the lower courts.
so its still an accounting push as a tax credit.
They are probably trying to settle with Collins.
Thats what I would do...sipping a beer.
in light of the 5 th circuit ruling...the door is open for a class action suit.
they know this.
so do we.
so, if I own a company...and I do...several.
lets call it company X.
company X takes issues shares to buy an asset (land).
company X shares have a ten year maturity at 10% per shareholder agreement.
that agreement does not go away unless that company files bankruptcy.
otherwise, that debt is still on the books.
we owe the prfd par.
its a debt...it must be paid with retained earnings after the capital is built over time.
This is much better for shareholders of common stock over the long haul.
it may be a bitter pill watching others get paid quick...but you will get divys after this mess is behind us.
the prfd want shareholders to not pay them back and just convert their shares to common. <<<<which is horrible for common shareholders and I am totally against this or any other dilution.
if prfd want commons they can sell and rebuy now before the window is closed.
Otherwise, company X would be diluted by the firm or person who bought bonds/debt/preferred shares. No good for common.
the law will try to prescribe a method to "make whole" all shareholders. Prfd shareholders that have held since 2008 will have a higher standing. Some that have bought recently will not get as much. Its a damages vs time issue.
Im ok with this logic being applied to all classes of shareholders. I think about those who had shares prior to the debacle that have held their shares waiting on the rule of law.
Should they not have higher standing than a flipper who bought in last friday? I know this will not be popular but, its more fair than some of the crazy things ive read over the years.
so respectfully, I ask you to reread my post, minus the vino...and have a great sunday.
one last shareholder flush...rinse and repeat.
lower expectations are the key to happy fnma investing.
im on my 6th tour of duty or 11 years indentured servitude.
What if those pallets of cash being flown to Iran was traced back to Fannie and Freddie profits through the general fund.
Unaccountable cash.
Honestly, you would need emails showing the government planned it, knew they were profitable, and stayed the course knowing it was illegal.
One fellow traveler email would not do it.
I doubt the DOJ will investigate the Treasury...(being logical)
unless it becomes a political hot button.
Those emails will never surface...but if they did...you would probably see some punitive damages.
my guess is...it was alot worse than you were told.
Preferred shares are debt.
They are a liability of the firm.
They have an expiration date.
They have a fixed interest on the debt.
on the other side of the balance sheet is an asset (mortgages)
During the conservatorship the loans stopped being paid(no divys)
which is basically interest paid on a loan/debt.
the common shares owe the prfd shares par.
we need to issue new debt at a lower interest rate and payoff those that have tried to destroy the common share value.
this will be our first act as shareholders after capital is raised.
we have one year to dig in and make as much earnings as possible to meet this capital standard.
I think the fed just kicked into to gear and is making moves that will help us greatly.
btw, the courts are screwing up all the plans made to dilute the commons.
comfy holding commons.
when you read this amendment on the shareholders ballet...vote "yes"
hey F,
not really buying your logic.
lets try this instead...
24 bil over payment
1.2 bil outstanding shares
divide...24/1.2
20 bucks a share...
now factor in assets and the other 3 billion held as capital...other small things like 3 trillion in captial payables.
so yeah 9 is doable.
Been here 11 years.
no one is more frustrated than I am.
the humor helps me feel less like cattle.
my deepest apologies.
no regerts.
Wonder if the same judge will take up our case as it is remanded?
Judges hate having their judgement overturned. Its embarrassing.
My guess, they will want to put this behind them quickly. Summary judgement here we come.
its a gooberment circle jerk.
yep, it takes three.
fhfa
treasury
courts
I see the root cause of the problem.
The Dubai thing is pure bogus material made up by someone with a large imagination.
Utter nonsense.
Try harder...to be realistic.
FHFA is just as unconstitutional today as it was day one.
No remedy has been applied, yet.
That urgent "plan" was desperate planning to not look like total idiots in front of the world.
See we had a plan one day before the ruling...whatever.
its not the first time.
glad you noticed.
I enjoyed hearing it.
I wondered if that was you saying "stick it to them"...lol
Any guesses on what % of the float is still trading?
American funds has around 7%
the hedge fund guys around 10%
thats 17/100...
we traded 15 million shares today.
thats approx 1.5% of the float.
Thats a razor thin margin pushing this big girl around.
Imagine what happens when demand increases and supply is not there to meet it. :)
I'll give you my reasoning for not trading...
If a look back occurs on how long shares are held vs damages gives those that held more standing.
Happens alot in settlements.
17 dollars is still slightly out of reach.
I'll check back in at lunch break.
This is huge news.
Trump can replace the head of the Fed at will.
No longer is that out of his control.
I also expect MC to follow suit and claim FHFA is also not fighting the ruling and will let stand.
This gives patriots more control and is a good thing for our Nation.
We are citizens before shareholders...so embrace good news for our Republic.
its further evidence that the Gooberment will not fight the ruling.
they are folding.
Thats big...hey guys looky here.
That could effect the Fed reserve for crying out loud.
all from our 5th circuit ruling.
high-five.
slow build of capital...equals no dilution, no conversion.
we dance alone.
Im gonna go with being overwhelmed rather than underwhelmed.
Im sick of white collar crimes not doing time.
Steal a car do 5 years.
Steal a billion...pay a fine, be back at work monday.
It brings me alot of joy...hearing folks talk about all the good they have done with the fnma shares going up.
Paying off houses, going on vacations...this is what it is about.
A better life.
Im so happy for everyone, and its only getting better.
maybe those 100k indictments has a few folks familiar with fnma in them. :)
it is the year of the boomerang.
CEOs using public money to fund political interests...its a problem.
Last I checked it's a publicly traded company.
Same as fnma funding Obamacare.
Moouch admitted it.
Those 11k docs are political ammo. Expect Trump to call for an investigation into how the money was managed.
It's funny how they ask questions they already know the answer to.
It's a show.
A cry for help that will go unanswered soon enough.
Shares are locking in at higher highs.
Locked.
Enjoy the show...off they go.
Suppression of pps.
He dances alone.
Looks like he going to act without congress.
agreed.
What is considered a fair amount of time to comply with a court ruling?
30 days?
That would line up pretty well.
your close but...
i feel that the conservatorship hit the pause button on all prfd shares.
it hit the pause button for commons.
no divys, no voting rights, no nothing.
that said,
if makes a hard sell to pay anything more than par.
going forward i will refer to jps as...
nonconvertible JPS.
there you go...
think logically.
think like you own it.
you refi...pay off debts.
then you work steadily at paying off long term debts.
and reward you shareholders.
the rest is noise.
as a shareholder,
my goal would be to refi the jps debt and pay them off.
then off they go.
new lenders would be world wide.
in a world full of negative interest rates...we are a beacon.