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board@fanniemae.com
Above is the email for the Fannie Mae Board of Directors. There have been some new placement of directors in the last few months. If you are a shareholder, maybe you would like to share your thoughts about the direction of the company. If you are interested, attached is a letter written to the Fannie Mae Board of Directors, written by a large shareholder dated February 28, 2014.
http://www.valuewalk.com/2014/03/bruce-berkowitz-attacks-fannie-mae-freddie-mac-bod-full-letter/
Mel Watt's current contact information under the FHFA, does anyone have that?
Do you believe that they can be released by court order or by the FHFA director?
Congress is not the only one to rectify this. At this point the congress and administration would be best off being quiet and let the courts fix this. Unless the FHFA director wants to do the moral and right thing and release fnma and fmcc himself.
Hmm. I don't think the Treasury is going to win that argument. I think the highly paid, most esteemed D.C. lawyers will have to straighten out that part.
In this situation you have to stand up for shareholder rights. When the financial collapse occurred, some waited while some negotiated behind closed doors. That was 2008. This is 2014. Now is the time to stand up and demand that the company is managed properly, shareholder meetings, votes, etc. There is no reason for these companies to be in conservatorship now, so we need to demand the rights that any shareholder of any public company would have.
Hmmm! I can't get that much! Can I sell my car and buy more shares before release or uplist?
Fnma and Fmcc employees: Thank you!!! Without you there would not be these billion dollar companies for us to invest in. You have been doing an outstanding job! Thank you!!!
Go Steve!!
Berkowitz is a little more assertive. He's not going to stand back and let a few rogue people in the government have their way. I am going to have to buy him a lunch when this thing skyrockets. :)
They love to torture us!! Bye, bye OTC, your days are numbered!! :)
Everyone get out and push! :) Go Fannie!
That would be a good one. They like to do things after hours on the holidays. Hoping I'm rich a little sooner than that though.
Can he come to the toast? :)
There's another good angle. Can we send that to Berkowitz?
So as of now, should all the preparation, paperwork be lined up either way for both items or no?
We can still push for it. It has to be approved by NYSE anyway, but do we just sit back and say it won't happen until after conservatorship? Or do we push for it? We need to focus on the things that are good for the company and actually move the stock. Release from cship and uplisting are both important for the company. I'm pushing for both. They both have some of the same paperwork/preparation that needs to be completed. I'm pushing for the Board, FHFA to do the right thing or be sued like Berkowitz is doing. I don't care which comes first. They both need to be done.
Maybe if they are uplisted, it forces them not to liquidate. If they were truly working in the best interest of the company, shouldn't they be working on uplisting? Isn't uplisting good for the company if all the requirements are met? Or should we just stay quiet and say, ya it's that conservatorship thing and it's all up to the government to decide the fate of these companies.
Then they take the risk of being sued for mismanagement of the company.
Yes and even if it is public, some institutional investors cannot buy OTC. Fnma pps could stay in the lower range until that very day when it is official, and then they flood in.
It's the one dated February 28, 2014.
Yes there are multiple requirements. Even if the pps had to be $4 bid at the time of uplisting, re-listing, all the necessary paperwork, preparation can be and should be in progress. I believe it took Berkowitz letter to the Board to get the ball rolling. If it turns out that in nyse's review, that they say the bid has to show $4 minimum, then the Board should at least have everything else ready to go. My main point is that I believe, that they have finally started the preparation for uplisting. I'm not convinced that we have to wait for the pps to show $4 on the bid, but if so, that part should not take too long from now. Nasdaq now has some $2 and $3 pps exceptions, also. Uplisting is something that would really move the stock, and the Board should have been working on it before Berkowitz addressed them. As an investor I don't want to be out when that happens.
Thanks, I have read through that info before. I'm not sure what side you're coming from. I'm saying that I believe they are actively working on the uplisting process. The Nyse has to approve and accept the application before they are uplisted, and there are some different things that might be taking time, might not. I do not believe that the pps is one of them, but we can just see when it happens.
Maybe Ackman talked Icahn into buying, now that they have made up. :)
Berkowitz and attorneys are amazing to watch. He wrote the letter February 28th, so I'm sure they've been getting something done!
When companies in the past have delisted and then apply to re-list, what was their share price when they applied for re-listing?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88542161
first link was just fnma's recent sec filings. sorry driving, can send full links later. here's berkowitz letter.
http://www.valuewalk.com/2014/03/bruce-berkowitz-attacks-fannie-mae-freddie-mac-bod-full-letter/
Zacks estimate shows May 8th, but some people here say they saw May 5th.
Chessmaster315 kept me up the other night :) when he posted because he posted a link about the latest 8-k showing director appointments. He seemed to think there was something unusual there. It got me looking at the whole uplisting thing again and clues to look for that can be a hint for uplisting. I also went back to Berkowitz letter to Board that is demanding them to uplist among other things. I figure Berkowitz would have an idea if we met requirements before he included that. From what I see we have met requirements for a while and we probably all should have been screaming at the Board too to get it done. I understand they have been under direction of FHFA, but that whole cage needed to be rattled, so some of these things get done.
http://biz.yahoo.com/e/140429/fnma8-k_a.html
http://www.thestreet.com/story/10723176/1/finding-uplist-clues-getting-in-before-prices-pop.html
Hey DT! I have to guess, they are working hard behind the scenes on the uplisting part. You know what happens the very day a stock like this is uplisted!!!
That's what I have been looking for as well, actual statements from Obama's mouth saying he is specifically, fully behind j/c or that FnF should disappear. He said the August wind down thing and some general things in sotu. Other than that, there have not been specific statements from him. I certainly don't want to hear those from him. This stock does much better if he stays quiet and doesn't say anything at all.....Also his HUD sec could have his own reasons to push j/c. His role will get more flexibility, power under j/c. I'm hoping Obama himself stays quiet.
That's for initial listing. Wouldn't they be applying for re-listing, pps over $1 over 30 days?
Bove was great. He really went straight to the key points. The gal Sandra used to be ok covering just commodities. That was her thing. Ugh, I hate to find out someone is really just clueless. The one at the end Elizabeth has always been very smart.
I am so disappointed in her!! She starts off the interview with OMG Fannie and Freddie are going to need $190 billion! I would have fell out of my chair if I was Bove! I wish his first sentence was, NOOO! They don't need anything now. They were required to perform this test, like other financial institutions. They don't need help under normal conditions and even under absolute, disaster, scenario they would probably still make it, if the gooberment just stopped their illegal profit sweep. Did she do that on purpose, was she set up or does she not have a clue? Good thing Bove can fire back and that Elizabeth chimed in.
Does Fannie need to meet re-listing requirement for pps or new listing requirement for pps?
That was one of Berkowitz requests in the letter to the Board in February, so do you think they started the process?
What about the exception depending on last 12 months numbers?
GSE's now meet any requirements to be released from cship, right? And for uplisting to NYSE as well? except for maybe pps for uplisting, but I think there is an exception depending on numbers from the last 12 months?
Thank you for taking time to correct that out there. The media is just passing on these inaccuracies. There is a reference in Berkowitz letter to the Board about not having to wait for just congress ( thank goodness). I'm sure Berkowitz knows a little more than that guy on twitter. I hope investors unite can keep a list of some top clarifications for the media.
$15 is as high as they will let me place a GTC sell order right now.