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While in conservatorship, there is still a fiduciary duty to the shareholders. That is being violated.
That's what Ralph Nader's lawsuit is all about. And other lawsuits to follow.
The purpose of conservatorship is to being the company back to a "sound and solvent condition". Which it now is.
IM0, the Gov't will not want to be entangled in expensive law suits that go on for years. Why would they?
Now that FnF are profitable and have paid back most of the bailout money anyway, why would they want them dissolved? The Gov't will find a graceful exit strategy from the preferred shares and everyone will go their merry way.
Ralph Nader is a common shareholder and his lawsuit is about the common shares.
Hey, the stock was up 70% in a week!!
Why is everyone crying about a small pullback here!!
Shorts usually start covering a day before the market will be closed for a Holiday. Booooooooooom
Tomorrow wil be another gappa with some slappa!!!
Yowza Yowza Yowz
Boooooooooom
You're right, it won't touch 5.
It will blow through 5 like a blow torch thru tissue paper on the way to ten!!
Yowza Yowza Yowza
Get ready for power hour
Booooooom
FNMA running on the major news today
Boooooooooooom
Yowza Yowza Yowza
Boooooooooooom
What's the problem !!
Don't you like gappa with some slappa. Yowza Yowza Yowza
I wanna take you higher
Boom gappa slappa slappa
Major news out FNMA!!
$66 billion payment to Gov't
Citibank settles with FNMA for $998 million
Yowza Wowza Gappa Some Slappa
We're headed to $2 land today
Goodbye 1's forever
Major slappa today
FNMA, FMCC gonna run today
Yowza Yowza Yowza
Yowza Yowza Yowza
I'm guessing it'll be a gappa with some major slappa
The more buyers the merrier!!
Calling all non believers..the train is about to leave the station
Boom slappa slappa slappa
Boom slappa slappa slappa
It's gonna be a slappa and a gappa boooooooooom. Weeeeeeeeeeee
Lovin the cheapies here
Say what you want but the structure of the common shares hasn't changed.
If you think it will.. Great. But it remains speculation as to what shape it will take. Any negative pr's and you know what will happen.
I agree..but any negative pr about the common shares and you know what will happen.
Why are you playing with something so speculative with kids college money? The outcome of FnF is pure speculation at this point. Don't forget, there are a lot of powerful people who want to do away with them.
But a bullish case can be made also.
Not for widows, orphans and college funds.
It is what it is...pure speculation at this point. Is this board only for speculators or can anyone post an opinion?
Unlikely FnF will have a crazy run to 5 unless positive news gets out about the fate ofcommon shares.
Everyone knows as it stands right now, the shares are worthless.We have lawsuits coming, bank settlements, earnings, possible relisting on NYSE, but nothing has changed about the fate of the common shares.
It's a very complex situation which might take years to unravel.
There is a world besides IHub.
The sentiment in the real world is extremely negative. Every pr has been negative. Every major news service has had something negative to say. PPS going much higher
Just remember, the more bearish the sentiment about FnF, the higher the pps will likely go. The contrarian view often wins out. It's the way the markets work
Tell me something I don't know
Sounds like your short the stock. If you're not, u should be
The more bank settlements there are, I.e., Citibank, Bank of Anerica, the stronger case FnF will have in court.
And once released from conservatorship they get relisted on NYSE with $54 share book value.
Who says the common shares are worthless?
It is obvious that FnF were duped by the large banks who sold them bad loans. Because of that FnF were illegally put into conservatorship.
To wind them down is a crime and will never stand up in court.
Well, that is the basis of the lawsuit.
This underhanded way of preventing the return to solvency. Among other issues.
One of the main goals of the FHFA was to "preserve and conserve the companies assets and put them in a sound and solvent condition". The amendment of last summer makes that impossible.
If they get released from conservatorship, as they legally should, the stock will be relisted on the NYSE so fast, it'll make your head spin
The main issue facing Fannie is not the Corker bill or the Reed bill. The outcome of these are years away.
The real issue now is whether Fannie should come out of conservatorship.
That should happen when a company is in " a sound and solvent condition." Which Fannie and Freddie now are.
But the amendment of Aug. 2012 make it impossible for FnF to do so.
The basis of Ralph Nader's lawsuit is that the FHFA had a fiduciary responsibility to the shareholders. The right and legal move would to let them come out of conservatorship now that the companies are solvent. If the gov't doesn't let this happen, the law suit will proceed, probably, this year. Nader's case is a strong one, many lawyers have said.
Restructuring of Fannie and Freddie should come after they have been released from conservatorship and recapitalized.
It would be a major mistake for the Gov't to take a hard line position against them
You gotta be kidding!!
I'm lovin it buying these cheapies!!
You buy your ticket, you take your chances
Check out Motley Fool article"The Ever Important Function of Fannie Mae"