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Yes, shortput, Please short. I emplore you to.
Here's an update from Bruce.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110201128
Looks pretty serious.
Hello Bruce,
That sounds really serious. We will continue to pray for you and trust that they can investigate it more thoroughly in NC and come up with a plan to beat it.
Take care of yourself cherish every day with your family like we all should be doing.
He sent the old link to clarify why he thought the decision mattered. It's not that big of a deal. However, this is the first time I have seen Carney give a positive spin on anything related to Fannie Mae.
He's not trying to spin it. You'll notice he linked to an old article of his showing why this could have been bad for us if the government won on this issue.
Hang in there Bruce. My mom had a grade 4 brain aneurysm a couple years ago when we were visiting relatives in Tampa. The first day sounded a lot like yours. The recovery was amazing and she is pretty much back to 100%.
Good luck with everything and take care. We'll be praying for you.
I am on the same wavelength as jackticker. These lawsuits were all a smokescreen to get us to this point. They ran their course and did their job.
I just tweeted this Release Fannie tweet out. Feel free to retweet. I'm @hill_matt on twitter:
1. America, remember the 2008 housing crisis? Who do you think will best prevent it in the future?
2. Those who fraudulently caused it, lost lawsuits, are TBTF and hiding in dark behind perfidious politicians and chauvinist think-tanks?
3. Or an agency that made mistakes, fixed them, won lawsuits to recoup losses and is fully aboveboard in returning housing to healthy state?
4. Who do you put your trust in? @Carney and Peter Wallison ….. OR ….. These altruistic 56 people:
5. @JoshRosner @MaloniSr @Ny1david @SenWarren @civilrightsorg @Homeownership @ritholtz @gmorgenson @bethanymac12 @jimmillstein @Convertbond
6. @RichardAEpstein @Cam_Fine @NYTimeskrugman @ModeledBehavior @terranovajoe @delong @rortybomb @dan_freed @mtaibbi @PaulMuolo @JonAPrior
7. @SimsOnFinance @timhoward717 @DoNotLose @JacobWolinsky @ToddSullivan @TreyGarrisonHW @paulequale @John_Hempton @gatorcapital @matt_levine
8. @dkmin @calculatedrisk @PlanMaestro @timpagliara @_InvestorsUnite @PaulinaMcGrath1 @Wade4Justice
9. @HFord2 @SenatorMenendez @SenSchumer @BarbaraBoxer @MaxineWaters @SenSherrodBrown @repjohnlewis @evamclayton
10. Ralph Nader, Dick Bove, Tim Howard, Mark Zandi, Ronald A Cass, William Issac, Michael H. Krimminger, Michael Kao, Michael Kim
11. @FHFA Release @FannieMae and @FreddieMac. If you believe in them and their mission, please retweet. It’s time!
sure, Troy Aikman and Bill Ackman would make for an unshakable force.
I guarantee you if Aikman was involved, this whole thing would be done and settled. Hensarling and most Southern Repubs are huge Aikman fans.
It's only 5 cents. You don't have to get your panties in a bunch yet.
I think there's some Leave it to Beaver joke to be had in there somehow, I just can't put it together.
But yes, there are a lot of places believers can flourish. Unfortunately, doing so in this situation gets you stomped on.
Yes, anyone involved in the housing industry knows what's up. The show can't go on for much longer.
Conservatorship times up! Don't Loot!
Good idea. I posted it on the IU discussion board here:
http://investorsunite.org/discussion/topic/charitable-donation-pledge-website-based-on-government-restoration-of-gses/
Will go out to TH717 and link to it as well.
I think it would be a great idea to start a donation pledging website. Investors can come in and make official pledges on how much stock they will donate to certain charities if the government does the right thing and restore the GSEs. This would demonstrate that we are not really a bunch of vultures and would get the charities to back our good cause for their good cause.
A possible 2nd wave of foreclosures has been mentioned a gazillion times over the last 5 years. Possibilities like this are not hidden from all the big players. They see all the books and all the loan characteristics and have made their informed bets. A Sr. management person at Fannie has no more inside info on this possibility that anyone else.
There are risks in everything. This risk is way down the stack compared to all the other crap we're dealing with.
ok, looks like i'm wrong. just didn't make that much sense to me.
no, means he lost money is all
Gotta put the whole paragraph in context:
Last month the fund held losing stakes in Shire PLC (ADR) (NASDAQ:SHPG) (LON:SHP), after a failed tax inversion merger attempt with AbbVie Inc (NYSE:ABBV), as well as negative exposure in Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC).
or more simply:
"Last month the fund ... " (had) "... negative exposure in Fannie Mae ..."
Very excellent breakdown of Carney. I never really thought about all those variables quite like that. He's definitely not a philanthropist, so that leaves him as haviog a dog in the fight.
I my opinion, I would say to stick a fork in the Carney Asada, cause he's beyond done...
yep, nice call. Anyone trying to use a chart on this is better to stay out.
Too bad we never heard a peep from Don on this issue afterwards.
You mean Bell Biv DeVoe type of Poison, right?
Free Gift With Pre-Sweep Fannie Mae Stock Purchase
This is how I felt after some of my earlier Pre-Sweep Fannie Mae stock purchases:
Free Gift with Purchase
Your "I Sold" sticker is on its way. Wear it with pride!
I think you were on to something. They had to quickly shut down ihub so no one would see your post until after market
He needed time for the narrative to change. Would have been burned has he tried to do it earlier. Cases and analysts and bloggers and profitability have turned the tide. There's not much left to wait for now in my mind.
I think you're right.
Also, not sure if it is clear. Both I and Rosner are on the side of the GSEs and shareholders now.
That's the beauty of this whole thing :)
Rosner: All GSE decision makers need to heed his advice.
He's one of the biggest GSE critics in history:
http://www.ritholtz.com/blog/2009/06/a-brief-history-of-credit-disasters/
They all listened to him then. Why are they conveniently ignoring his advice now?
that person has the cases all mixed up
sure, glad to be of help on that one.
He should quite honestly be considered ally #1 for us. He wrote reckless endangerment, which was very critical of GSEs leading up to the collapse. He was one of the biggest critics.
Now he is on GSE side as he's seen the reforms and government corruption and knows a reformed GSE is better than any alternative.
Being a vocal, astute and confident writer and speaker who used to be our biggest critic and now one of our bigger supporters, I can't think of anyone better to lead the charge.
Please google him and read all his GSE work and videos. That is required knowledge for everyone on this board.
May want to send him a FreeFannie lid to war at the postgame conferences...
I heard that OTC implemented new fraud detection software.
Unfortunately FNMA blew up the system as it was not expecting such a high level of fraud within the government specific algorithms.
Demarco, Geithner and Paulson have been summoned to FINRA to tell the developers how to recode as the algorithms seem to defy all logic.
Good Rosner Interview on GSEs
Go to 14 minute mark:
http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vh0w2tx4otWE.mp3
17:30
The author makes it looks like that whole paragraph were Lamberth's words. THEY WERE NOT. Look at the filing, He only said what was in quotes. Horrible reporting.
My opinion is one of 2 things happened:
1. They negotiated and agreed that a 4th amendment needs to come out. Therefore, the ripeness of the case is not there and Perry did not push, knowing that there will be a 4th amendment.
2. There were no negotiations. Perry has concluded that the judge would leave a wide open door to filing a lawsuit against the original HERA conservatorship, similar to the AIG suit. The judge did leave a gaping whole open for this with his commentary. Look for a whole new slew of lawsuits to be filed against HERA.
hope you didn't waste too much time in your day thinking up that gem
I like some of Munger's comments. However, he's out of touch when he says people can just simply leave their job when their manager orders them to do something they don't agree with. Real people in a real world have mouths to feed and rent to pay and can't quit on a dime like that. The big wigs maybe, everyone else down the chain, not so much.
I read it all and went through all the links. Very informative and helpful. I don't know how long the government can keep on with this charade and keep getting away with it. I will forever be disappointed with the US government no matter how this turns out. They all know what they are doing is wrong, but they keep it up anyways. We're just turning into a country full of cheaters and it starts at the top.