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This was based on the settlement from the Jury $610 million roughly $389 million for Fannie Mae .
My Questions are:
Now that the NWS was deemed over reaching and unfair dealings breach of Conservative and preserve them since the NWS stopped and changed to the LP then the LP should see the same fate ??
From Aug 14th 2023 onwards any amount retained in the SPSA should also be damages with interest paid to shareholders?
That’s $389,000,000 x 6% = extra $23,340,000 for Fannie to the pot of damages !
https://www.fool.com/investing/2023/08/16/why-fannie-mae-stock-was-up-big-today/?source=eptyholnk0000202
The government deserved and would have received, without the net worth sweep, a huge profit on its investment. But it was not entitled to 100% of all profits forever
100% correct can’t make it any clearer than that !
Now interesting times ahead! How will the SPSA fair against the same verdict ? Of good faith and fair dealing to conservative and preserve the company’s???
Any lawsuit against the SPSA must fill into the same verdict ?? Maybe ??
SCOTUS ONLY RULED WHAT on what was written in the contract between FHFA and Treasury!
It didn’t say it was law!!
Now a Jury has found that the NWS is in breach of Good faith and fare dealing to conservative and preserve the company’s.
Remember what SCOTUS said! You brought the WRONG CASE BEFORE US! In regards to takings !!!
Has the LP in the 4th Amendment could be challenged as unconstitutional??
Has anyone considered challenging the LP in the Calabria 4th amendment on the basis of the unconstitutional removal restriction?
— Jarndyce Jarndyce (@JarndyceJ) August 18, 2023
BIG TIME SHORT YESTERDAY
https://www.otcshortreport.com/company/FNMA
But a couple of days to cool off and these Short guys n girls are going to be in trouble !!
$1 to $1.20 by wednesday next week and I don't make predictions very often.
Full Socastics lines are about to cross anyway. Time to reload and cool off before the next up swing!
If it finds supports in the mid $0.65’s then next leg good see $1 next week.
Sure seems like the normal again and hopefully pre covid levels in the $3 range
Here you go try this one
It’s my understanding and I’m not a lawyer nor do I know the in’s and out’s of the law but if a jury found the Gov over reached and in breach of there contract applying the NWS and made to pay damages to shareholders then the NWS is outside the scope of the ( fair trade and dealings etc) of the contract!
So why is it now NOT classed as void ? (NWS) Even though SCOTUS said it’s legal ??
If this gets appealed and shareholders lose they will then appealed again to WHAT COURT ?? to SCOTUS ? They have ruled the NWS was legal ( UNDER HERA) only !
I've said this also. He was very tuff on what P's could add and D's allowed. My understanding after the first trial is this was his way of getting back for Gov lying in his court room in 2014. He wanted to stick it to the Gov.
the judge’s jury instructions were improper under the law (and therefore led to an improper factual determination), but my sense was Lamberth was very cautious in his jury instructions, usually favoring the government over the plaintiffs in motions with regard to witness testimony and jury instructions.
It will be added on top of judgement
Dam they typed that up pretty quick !!
Do you think they already new they were going to lose the case and went into trial 2 with the idea to minimize damage control ??
Instead of $6.3 billion shareholders got $601 million . Still can’t figure out how they reached that number.
A good read but they are crying over spilt milk !
https://www.documentcloud.org/documents/23909994-113-mc-01288-doc-395
Not so fast !
Unfortunately…..
Purchaser may, in its sole discretion,
I stand corrected thanks! BUT AGAIN the key words everyones missing is.((((( MAY ))))))
Purchaser may, in its sole discretion, by written notice to Conservator and Seller
Purchaser may, in its sole discretion, by written notice to Conservator and Seller.
This gives a clear path for any administration CURRANT OR NEXT to simply make changes and remove them from conservatorship without congress!
THIS IS THE IMPORTANT PART YOU MISSED
Purchaser may, in its sole discretion, by written notice to Conservator and Seller
FHFA is never going to give up the SPSA or warrants!
IT SAYS SPSA IS DONE !! BUT NOOOOOOO........NOT YET ! FHFA has to say so ???
6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral to the whole and shall not be
severable from the remainder of the Agreement. In the event that any provision of this Agreement, the Senior Preferred Stock or the
Warrant is determined to be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator and
Seller, declare this Agreement null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock
and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to
effectuate such rescission and unwind) shall immediately and automatically terminate.
6.4. Governing Law; Jurisdiction; Venue. This Agreement and the Warrant shall be governed by, and construed in accordance with,
the federal law of the United States of America if and to the extent such federal law is applicable, and otherwise in accordance with the
laws of the State of New York. The Senior Preferred Stock shall be governed as set forth in the terms thereof. The United States
District Court for the District of Columbia shall have exclusive jurisdiction over all civil actions arising out of this Agreement, the
Commitment, the Senior Preferred Stock and the Warrant, and venue for any such civil action shall lie exclusively in the United States
District Court for the District of Columbia.
6.5. Notices. Any notices delivered pursuant to or in connection with this Agreement shall be delivered to the applicable parties at
the addresses set forth below:
If to Seller:
Federal National Mortgage Association
c/o Federal Housing Finance Authority
1700 G Street, NW
4th Floor
Washington, DC 20552
Attention: General Counsel
If to Purchaser:
United States Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington DC 20220
Attention: Under Secretary for Domestic Finance
with a copy to:
United States Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington DC 20220
Attention: General Counsel
If to Conservator:
Federal Housing Finance Authority
I'D LIKE TO KNOW HOW THEY GOT THESE NUMBERS ?? BASED ON WHAT ??????
Government won’t appeal !!
Because even though it’s a small layout and loss if they were to appeal then more of there dirty laundry will be aired !
It might be there best interest to let this pass for the sake of hiding all the docs!
There must be a general common room in that building for all the judges to rest hang out chat etc have lunch. After so many years I’m sure they know each other.
Hence I feel that since Lambert wanted an 8 for 8 decision maybe he knows the judge where it’s heading next and how a string verdict would hold up !
Gov doesn’t have $600 million $$$ so defend and ask for a re trail as the GSE are laying there lawyers bill not Treasury!
It will be hard for a re trail. Lambert made clear he wanted a 8 for 8 that’s going to be hard for any judge to over turn and give Gov an appeal .
I’m 70% JPS and 30% common ! $50 JPS Freddie and $25 JPS Fannie and Freddie Common!
8 for 8 that's what Lambert wanted. This should hold firm for an appeal from FHFA to the next Judge. They might get denied ! Lambert was very clear he wanted a unanimous decision!! for this to STICK !!!
Going to be very hard for the next Judge to grant a new trail after 8 for 8 found FHFA was in the wrong !
I understand that! My questions is the Warrants are still live ! Gov will want to cash them in!
If the companies do a forward split then they raise considerable $$$ for there 2.5% buffer !!
Apple did a forward spilt look how that turned out ! A margin all commons getting double shares !
AMEN ! TO THE FIRE for the SPSA for Fannie and Freddie! Then IPO the warrants and release ! Or not then the companies can do a forward split and raise cash that way ??
If they do give a verdict that FHFA and Treasury did indeed do that then the SPSA is toast ?
1 in 4 hmmm thats alot so hopefully they allow and hopefully we got a couple of good ones!!
Not True. When I went into do my jury (9 jury's) duty last year they picked 1 lawyer, 1 accountant and 2 retired police officers and the rest were random 30 to 40 year olds. It was a trail regarding corruption on a building site downtown Fort Lauderdale FL
NOT GOOD NEWS!
Another Hung jury by the sounds of it ! If they couldn’t get everyone onboard either yes or no then it’s going to be tuff sell for a win ?
I’m speculating they ant doing this for free! If anyone bailed out of the class then do they get paid without fees taken from lawyers?
I’d would suspect the lawyers would want all there fees paid from the start to re- coup everything. I don’t know how it works. Most pro bono take 25% to 50% so again who knows they have never stated publicly what there fees are in the class action
And was this brought up in Cross by P’s with De Marco ??? NO !!
WHY NOT ?? It would have de- bunked his statements of preserve and conserve !!! And shown the Gov was stripping them of all cash !
Robert ! When was this entered into the trail ? did P's make it a point ????
GOVERNMENT TRIPLE DIPPING !
Gov can we ( Fannie & Freddie) borrow more $$ to pay you the NWS dividends please.
Hmmm going from what Familyman posted I'd get $134,200 ! fee money! FNMAT and FMCCI. FMCC
THAT'S all the Hedge funds and Warren Bufferts plan! Gov en rich there buddies from the warrants while shareholders get trashed !
If Trump wins the White House you bet ya that will be the go! Gov collect $100 billion sell of warrants to there buddies for favours!
BRILLANT REPLIES AND READ ! Hamish nailed that Bxxtard to the wall for lying !!!
BREATH PEOPLE ! P's haven't crossed De MARCO YET !!!!
I a perfect world where the jury sees the Gov thief.
They should make them repay what they stole.
They should make them pay damages to shareholders or record with losses dividends
But we know that’s not going to happen !