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So this is designed to stop the price from moving upwards I guess?
If it goes up again today like yesterday I think as well that it must be him.
I'm over 50K now so you can add me to the gold club. I add more in the high 3's and then more yesterday in the 4.70 range.
It's very heartening. He even mentions at one point in the letter how they could be personally liable - that they are not protected by HERA. Wow. If I was on that board I would be either working hard to get out of conservatorship or in the process of resigning. No way would I want my future threatened by a lawsuit like that - just not worth it.
That's very nicely written.
What was her answer?
I started buying at .26 cents. I told my wife that if this thing ever gets to $3 then that's the same thing as it going to $30. I believe it will get there.
Court update
DC Court update
Case reassigned by consent to Judge Royce C. Lamberth. Judge Robert L. Wilkins has been elevated to the U.S. Court of Appeals for D.C. and is no longer assigned to the case. (gt, ) (Entered: 01/22/2014)
US Federal Court of Claims
NOTICE granting “Unopposed MOTION for Extension of Time until 1/23/2014 to Respond to the Consolidated Complaint” Motion for Extension of Time. Answer due by 1/23/2014. Signed by Clerk of Court. (jb) Copy to parties. (Entered: 12/17/2013)
This is why ultimately I think they will have to stop the sweeps. Either reform is ready at the same time as netzero or they stop the sweeps. Since reform will not be then will have to stop the sweeps.
Why do I say that?
Since they cannot really articulate how much is enough, and they have no alternative ready (i.e. reform) they could recoup 1000X their investment on this (over many, many years of course) and still keep sweeping. But, without an alternative, this is where they are headed. So, how much is enough? And if they could give a figure, they would have to provide some kind of justification.
Why would home owners agree that part of their payments are used to pay down the nation's debt? It's like Obamacare for houses.
Of course, with the sweeps continuing, the government is more at risk than ever.
I don't know if this would also mean release from conservatorship but if they stop the sweeps, what would FNF do with all that money? By default it would recapitalize themselves. Which puts them in a more solvent position and makes the argument for conservatorship moot. Which makes some lawsuits even more likely to succeed.
All IMO of course.
Court Update
I tried to format it a bit so it would be readable.
Summary:
ORDER REGARDING BRIEFING SCHEDULE IN ALL CASES: Upon consideration of the Joint Status Report submitted on November 6, 2013 and pursuant to the Federal Rule of Civil Procedure 42, it is hereby ORDERED that the above captioned cases proceed according to the following schedule: Interim co-lead class counsel file a consolidated class action complaint due by 12/3/2013. Defendants file the administrative record due by 12/17/2013.. Defendants file dispositive motions due by 1/17/2014. Plaintiffs file oppositions to defendants motions and cross-motions due by 2/19/2014. Defendants file replies in support of their motions and oppositions to plaintiffs cross motions due by 4/2/2014. Plaintiffs file replies in support of their cross motions due by 5/2/2014. Hearing on defendants dispositive motions and plaintiffs cross-motions set for 6/23/2014 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins.(SEE ORDER FOR FULL DETAILS). Signed by Judge Robert L. Wilkins on 11/18/2013. (tcb) (Entered: 11/18/2013)
Details
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLUMBIA
Misc. Action No. 13-mc-1288 (RLW)
IN RE FANNIE MAE/FREDDIE MAC
SENIOR PREFERRED STOCK PURCHASE
AGREEMENT CLASS ACTION
LITIGATIONS
Civil Action No. 13-cv-1025 (RLW)
PERRY CAPITAL LLC,
Plaintiff,
v.
JACOB J. LEW, et al.,
Defendants.
Civil Action No. 13-cv-1053 (RLW)
FAIRHOLME FUNDS, INC., et al.
Plaintiffs,
v.
FEDERAL HOUSING FINANCE AGENCY,
et al.,
Defendants.
Civil Action No. 13-cv-1439 (RLW)
ARROWOOD INDEMNITY COMPANY, et
al.
Plaintiffs,
v.
FEDERAL NATIONAL MORTGAGE
ASSOCIATION, et al.,
Defendants.
ORDER REGARDING BRIEFING SCHEDULE IN ALL CASES
Upon consideration of the Joint Status Report submitted on November 6, 2013 and pursuant to the Federal Rule of Civil Procedure 42, it is hereby ORDERED that the above captioned cases proceed according to the following schedule:
Interim co-lead class counsel file a consolidated class action complaint. December 3, 2013
Defendants file the administrative record December 17, 2013
Defendants file dispositive motions January 17, 2014
Plaintiffs file oppositions to defendants’motions and cross-motions
February 19, 2014
Defendants file replies in support of their motions and oppositions to plaintiffs’ cross motions April 2, 2014
Plaintiffs file replies in support of their cross motions May 2, 2014
Hearing on defendants’ dispositive motions and plaintiffs’ cross-motions June 23, 2014 at 9:30 a.m.
This schedule is without prejudice to the parties’ rights to oppose any summary judgment motions under Federal Rule of Civil Procedure 56(d), in whole or in part, on the ground that further factual development is needed. The defendants’ obligation to answer the complaints in the above-captioned matters is deferred pending resolution of these initial motions.
It is FURTHER ORDERED that the parties in the three non-consolidated actions (Perry Capital LLC v. Lew, et al., No. 13-cv-1025 (RLW), Fairholme Funds, Inc., et al. v. Federal Housing Finance Agency, et al., No. 13-cv-1053 (RLW), and Arrowood Indemnity Co., et al. v. Federal National Mortgage Association, et al., No. 13-cv-1439 (RLW)) shall meet and confer amongst each other and with defendants in an attempt to establish a protocol for submitting a joint brief pursuant to the above schedule. The purpose of the meet and confer is to allow the Court to receive one set of papers pertaining to the non-consolidated actions, if at all possible.
The parties in the non-consolidated actions shall submit a joint status report by no later than December 6, 2013, setting forth the agreed upon protocol (including proposed page limits). To the extent that the parties fail to reach an agreement on some or all of the pertinent issues, the joint status report shall include competing proposals by the parties.
IT IS SO ORDERED.
Dated: November 18, 2013 _______________________________
ROBERT L. WILKINS
United States District Judge
Case 1:13-cv-01439-RLW Document 27 Filed 11/18/13 Page 3 of 3
This is the reason why I feel that ultimately we will back to status quo. The republicans will never agree to any artificial low income housing support. The only way the Dems can get it is just to go back to what it was.
They will find a way to oust Demarco, install Watt, and then release from C-Ship. This is what they will threaten the Republicans in any case. If they cannot work together then that is what will happen all IMHO of course.
I think part of his reasoning to do this was to nullify any potential argument that there were no investors willing to step in and to show that the firms hold lots of value.
This supports his lawsuits I think....If the government says "no", then they would not be able to say that the firms hold no value since obviously they do as there is an offer on the table.
I guess it was a typo because today it has been corrected.
Court news - nothing dramatic
11/06/2013 23 STATUS REPORT On Behalf Of All Parties by PERRY CAPITAL LLC. (Attachments: # 1 Exhibit Exhibit A, # 2 Exhibit Exhibit B)(Olson, Theodore) (Entered: 11/06/2013)
11/12/2013 Minute Entry for proceedings held before Judge Robert L. Wilkins: Status Conference held and concluded on 11/12/2013. Plaintiff's Motion to Appoint Counsel; Heard and the Court to grant. Parties to submit a Word version of the proposed order to the Court. Motions Hearing set for 6/23/2014 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins. (Court Reporter Patty Gels) (tcb). (Entered: 11/12/2013)
11/13/2013 Set/Reset Hearings: Motion Hearing set for 6/23/2014 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins. (tcb) (Entered: 11/13/2013)
Seems like they meet and there is no transcript to say what was discussed other than the judge asked for a Word version of the proposed order.
Full docket text:
Minute Entry for proceedings held before Judge Robert L. Wilkins: Status Conference held and concluded on 11/12/2013. Plaintiff's Motion to Appoint Counsel; Heard and the Court to grant. Parties to submit a Word version of the proposed order to the Court. Motions Hearing set for 6/23/2013 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins. (Court Reporter Patty Gels) (tcb)
U.S. District Court
District of Columbia (Washington, DC)
CIVIL DOCKET FOR CASE #: 1:13-cv-01025-RLW
PERRY CAPITAL LLC v. LEW et al
Assigned to: Judge Robert L. Wilkins
Cases: 1:13-cv-01149-RLW
1:13-cv-01169-RLW
1:13-cv-01184-RLW
1:13-cv-01094-RLW
1:13-cv-01208-RLW
1:13-cv-01439-RLW
1:13-cv-01421-RLW
1:13-cv-01443-RLW
1:13-cv-01053-RLW
Cause: 05:0706 Judicial Review of Agency Actions
Date Filed: 07/07/2013
Jury Demand: None
Nature of Suit: 899 Administrative Procedure Act/Review or Appeal of Agency Decision
Jurisdiction: U.S. Government Defendant
Plaintiff
PERRY CAPITAL LLC
for and on behalf of investment funds for which it acts as investment manager represented by Theodore B. Olson
GIBSON, DUNN & CRUTCHER, L.L.P.
1050 Connecticut Avenue, NW
Washington, DC 20036-5306
(202) 955-8668
Fax: (202) 530-9575
Email: tolson@gibsondunn.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Derek S. Lyons
GIBSON, DUNN & CRUTCHER, LLP
1050 Connecticut Avenue, NW
Suite 300
Washington, DC 20036-5306
(202) 887-3722
Email: dlyons@gibsondunn.com
ATTORNEY TO BE NOTICED
Matthew D McGill
GIBSON DUNN & CRUTCHER LLP
1050 Connecticut Avenue, NW
Washington, DC 20036
(202) 887-3680
Email: mmcgill@gibsondunn.com
ATTORNEY TO BE NOTICED
Nikesh Jindal
GIBSON, DUNN & CRUTCHER, LLP
1050 Connecticut Avenue, NW
Suite 300
Washington, DC 20036-5306
(202) 887-3695
Email: njindal@gibsondunn.com
ATTORNEY TO BE NOTICED
Douglas R. Cox
GIBSON, DUNN & CRUTCHER, L.L.P.
1050 Connecticut Avenue, NW
Washington, DC 20036-5306
(202) 887-3531
Fax: (202) 467-0539
Email: dcox@gibsondunn.com
ATTORNEY TO BE NOTICED
V.
Defendant
JACOB J. LEW
in his official capacity as the Secretary of the Department of the Treasury represented by Joel L. McElvain
U.S. DEPARTMENT OF JUSTICE
Civil Division
20 Massachusetts Avenue, NW
Washington, DC 20530
(202) 514-2988
Fax: (202) 616-8460
Email: joel.l.mcelvain@usdoj.gov
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
David Michael Glass
U.S. DEPARTMENT OF JUSTICE
Civil Division
20 Massachusetts Avenue, NW
Washington, DC 20530
(202) 514-4469
Fax: (202) 616-8470
Email: david.glass@usdoj.gov
TERMINATED: 07/31/2013
Thomas David Zimpleman
U.S. DEPARTMENT OF JUSTICE
P.O. Box 883
Washington, DC 20044
(202) 514-3346
Fax: (202) 616-8470
Email: thomas.d.zimpleman@usdoj.gov
ATTORNEY TO BE NOTICED
Defendant
EDWARD DEMARCO
in his official capacity as Acting Director of the Federal Housing Finance Agency represented by Asim Varma
ARNOLD & PORTER LLP
555 12th Street, NW
Suite 311
Washington, DC 20004
(202) 942-5180
Fax: (202) 942-5999
Email: asim_varma@aporter.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
David Block Bergman
ARNOLD & PORTER LLP
555 12th Street, NW
Suite 311
Washington, DC 20004
(202) 942-5474
Fax: (202) 942-5999
Email: david_bergman@aporter.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Howard Neil Cayne
ARNOLD & PORTER LLP
555 12th Street, NW
Suite 311
Washington, DC 20004
(202) 942-5656
Fax: (202) 942-5999
Email: howard.cayne@aporter.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Defendant
DEPARTMENT OF THE TREASURY represented by Joel L. McElvain
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
David Michael Glass
(See above for address)
TERMINATED: 07/31/2013
Thomas David Zimpleman
(See above for address)
ATTORNEY TO BE NOTICED
Defendant
FEDERAL HOUSING FINANCE AGENCY represented by Asim Varma
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
David Block Bergman
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Howard Neil Cayne
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Date Filed # Docket Text
07/07/2013 1 COMPLAINT against All Defendants ( Filing fee $ 400 receipt number 0090-3389207) filed by PERRY CAPITAL LLC. (Attachments: # 1 Civil Cover Sheet, # 2 Summons Summons to US Attorney for the District of Columbia, # 3 Summons Summons to the Attorney General, # 4 Summons Summons to Edward DeMarco, # 5 Summons Summons to Jacob J. Lew, # 6 Summons Summons to Federal Housing Finance Agency, # 7 Summons Summons to Department of Treasury)(Cox, Douglas) (Entered: 07/07/2013)
07/07/2013 2 Corporate Disclosure Statement by PERRY CAPITAL LLC. (Cox, Douglas) (Entered: 07/07/2013)
07/07/2013 Case Assigned to Judge Robert L. Wilkins. (kb) (Entered: 07/08/2013)
07/08/2013 3 NOTICE of Appearance by David Michael Glass on behalf of DEPARTMENT OF THE TREASURY, JACOB J. LEW (Glass, David) (Entered: 07/08/2013)
07/08/2013 4 ELECTRONIC SUMMONS (6) Issued as to EDWARD DEMARCO, DEPARTMENT OF THE TREASURY, FEDERAL HOUSING FINANCE AGENCY, JACOB J. LEW, U.S. Attorney and U.S. Attorney General. (Attachments: # 1 Summons, # 2 Summons, # 3 Summons, # 4 Summons, # 5 Summons, # 6 Consent, # 7 Notice of Consent)(kb) (Entered: 07/08/2013)
07/08/2013 5 NOTICE of Appearance by Douglas R. Cox on behalf of PERRY CAPITAL LLC (Cox, Douglas) (Entered: 07/08/2013)
07/08/2013 6 NOTICE of Appearance by Nikesh Jindal on behalf of PERRY CAPITAL LLC (Jindal, Nikesh) (Entered: 07/08/2013)
07/08/2013 7 NOTICE of Appearance by Derek S. Lyons on behalf of PERRY CAPITAL LLC (Lyons, Derek) (Entered: 07/08/2013)
07/09/2013 8 NOTICE of Appearance by Theodore B. Olson on behalf of PERRY CAPITAL LLC (Olson, Theodore) (Entered: 07/09/2013)
07/12/2013 9 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed as to the United States Attorney. Date of Service Upon United States Attorney on 7/9/2013. Answer due for ALL FEDERAL DEFENDANTS by 9/7/2013. (Jindal, Nikesh) (Entered: 07/12/2013)
07/12/2013 10 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed on United States Attorney General. Date of Service Upon United States Attorney General 07/09/2013. (Jindal, Nikesh) (Entered: 07/12/2013)
07/12/2013 11 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed. DEPARTMENT OF THE TREASURY served on 7/9/2013 (Jindal, Nikesh) (Entered: 07/12/2013)
07/12/2013 12 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed. EDWARD DEMARCO served on 7/9/2013 (Jindal, Nikesh) (Entered: 07/12/2013)
07/12/2013 13 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed. FEDERAL HOUSING FINANCE AGENCY served on 7/9/2013 (Jindal, Nikesh) (Entered: 07/12/2013)
07/12/2013 14 RETURN OF SERVICE/AFFIDAVIT of Summons and Complaint Executed. JACOB J. LEW served on 7/9/2013 (Jindal, Nikesh) (Entered: 07/12/2013)
07/31/2013 15 NOTICE OF SUBSTITUTION OF COUNSEL by Joel L. McElvain on behalf of DEPARTMENT OF THE TREASURY, JACOB J. LEW Substituting for attorney David M. Glass (McElvain, Joel) (Entered: 07/31/2013)
07/31/2013 16 NOTICE of Appearance by Thomas David Zimpleman on behalf of DEPARTMENT OF THE TREASURY, JACOB J. LEW (Zimpleman, Thomas) (Entered: 07/31/2013)
08/26/2013 17 NOTICE of Appearance by Asim Varma on behalf of EDWARD DEMARCO, FEDERAL HOUSING FINANCE AGENCY (Varma, Asim) (Entered: 08/26/2013)
08/26/2013 18 NOTICE of Appearance by Howard Neil Cayne on behalf of EDWARD DEMARCO, FEDERAL HOUSING FINANCE AGENCY (Cayne, Howard) (Entered: 08/26/2013)
08/26/2013 19 NOTICE of Appearance by David Block Bergman on behalf of EDWARD DEMARCO, FEDERAL HOUSING FINANCE AGENCY (Bergman, David) (Entered: 08/26/2013)
09/08/2013 20 STIPULATION as to Briefing Schedule by DEPARTMENT OF THE TREASURY, JACOB J. LEW. (Attachments: # 1 Text of Proposed Order)(McElvain, Joel) (Entered: 09/08/2013)
09/09/2013 MINUTE ORDER: It is hereby ORDERED that all deadlines in this case shall be STAYED until further notice while the Court reviews all of the pending motions in all of the related pending cases. Signed by Judge Robert L. Wilkins on 9/9/2013. (tcb) (Entered: 09/09/2013)
09/23/2013 MINUTE ORDER: All briefing (including responses to pending motions) and obligations to answer, or otherwise respond to complaints, are hereby stayed until further notice of the court. Signed by Judge Robert L. Wilkins on 9/23/2013. (tcb). (Entered: 09/23/2013)
10/09/2013 21 PRELIMINARY CASE MANAGEMENT ORDER No. 1IN THE FANNIE MAE/FREDDIE MAC SENIOR PREFERRED STOCK PURCHASEAGREEMENT LITIGATIONS; On July 7, 2013, an investment manager filed a complaint in this court against a number of parties, including the Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA), in its capacity as the conservator for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Perry Capital LLC v. Lew, 13-cv-1025. All parties shall appear for a status hearing in this matter on November 12, 2013 at 2:00 pm to discuss the issues specified in this Order. Other than this Joint Status Report, all briefing (including responses to pending motions) and obligations to answer, or otherwise respond to complaints, are still stayed until further notice of the Court. (SEE ORDER FOR FULL DETAILS). Signed by Judge Robert L. Wilkins on 10/9/2013. (tcb) (Entered: 10/09/2013)
10/24/2013 22 NOTICE of Appearance by Matthew D McGill on behalf of PERRY CAPITAL LLC (McGill, Matthew) (Entered: 10/24/2013)
11/06/2013 23 STATUS REPORT On Behalf Of All Parties by PERRY CAPITAL LLC. (Attachments: # 1 Exhibit Exhibit A, # 2 Exhibit Exhibit B)(Olson, Theodore) (Entered: 11/06/2013)
11/12/2013 Minute Entry for proceedings held before Judge Robert L. Wilkins: Status Conference held and concluded on 11/12/2013. Plaintiff's Motion to Appoint Counsel; Heard and the Court to grant. Parties to submit a Word version of the proposed order to the Court. Motions Hearing set for 6/23/2013 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins. (Court Reporter Patty Gels) (tcb) (Entered: 11/12/2013)
1:13-cv-01025-RLW PERRY CAPITAL LLC v. LEW et al
Robert L. Wilkins, presiding
Date filed: 07/07/2013
Date of last filing: 11/12/2013
Docket Information and Related Docket Entries
Case 1:13-cv-01025-RLW
Filed: 11/12/2013
Entered: 11/12/2013
Entered By: ztcb,
Event Name(s): Set Hearings, Status Conference
Full Docket Text:
Minute Entry for proceedings held before Judge Robert L. Wilkins: Status Conference held and concluded on 11/12/2013. Plaintiff's Motion to Appoint Counsel; Heard and the Court to grant. Parties to submit a Word version of the proposed order to the Court. Motions Hearing set for 6/23/2013 at 9:30 AM in Courtroom 27A before Judge Robert L. Wilkins. (Court Reporter Patty Gels) (tcb)
I don't think I can PM you as that would require a subscription. I indeed well qualify. I am over 30K now with an avg pps of ~70 cents. I bought too much went it went to nearly $1 the last time which pushed me up.
I think number 75 and 76 should be rolled up into just one entry. Most likely it's a typo? #75 is the right one: lookaheadfuture.
Moronic logic from congress.
When Hensarling says that FNF have not paid back "one thin dime", that makes me laugh so hard. With that logic, FNF could pay back 1000 fold the draw and they would still owe everything. That money that FNF are making come from homeowners. That money goes to the treasury to be used for "whatever". Someone should tell Hensarling that this is redistribution of wealth - that would make his ears perk up to realize that he has become the enemy.
I'm sure he is soooo against socialism but he hasn't realized that he is supporting it himself!
From the PDF for FMCC....
...the company’s aggregate cash dividends paid to Treasury
will total $71.345 billion, versus cumulative cash draws of $71.336 billion received from Treasury...
It's official, they (FMCC) have paid more to the treasury that what they drew....
FNMA will be next quarter for sure.
My name is wrong....:)
Pre-market out of control! Loving this!
I don't see it happening that way. I see it more like a new entity will be formed, our shares will be transferred (I bet in some way diluted) to the new entity, the initial share price will be high (20+) and that will be the end of it.
I don't see how they can release it from c-ship and re-list it without there being chaos. The price would be jumping hundreds of % daily so I see trading would be halted. The only way would be that they re-list and be at the new price immediately but is that possible in a non-IPO setting?
I'm no expert but I think it will be smooth and controlled. Happy to hear counter opinions.
I don't see it happening that way. I see it more like a new entity will be formed, our shares will be transferred (I bet in some way diluted) to the new entity, the initial share price will be high (20+) and that will be the end of it.
I don't see how they can release it from c-ship and re-list it without there being chaos. The price would be jumping hundreds of % daily so I see trading would be halted. The only way would be that they re-list and be at the new price immediately but is that possible in a non-IPO setting?
I'm no expert but I think it will be smooth and controlled. Happy to hear counter opinions.
Count me in please. I rarely post but am long and strong a long time.
If it's correct, this is great information to know (at least to me).
Yes, that is quite massive.
Long 33K
Same date as earnings, no?
This board went from a hotbed of non-stop pumping to a playground for bashing shorts. Seems like they removed Blue as a Moderator (haven't seen him post here since) and now the shorts are running this board? I wonder what went on behind the scenes?
Can't you find a happy medium?
Banks buying FNF? Seems like that would be a good way to pay the court decisions....just invest in FNF then push for re-listing....in the end they come out even.
The gov't didn't buy any shares.
I saw that - nice!
Which it had no choice but to accept, without a chance for shareholders to review, and it ultimately never actually needed. And of course no way to pay it down. For sure the 3rd amendment will be found to be illegal and hopefully the entire conservatorship will be.
Seems like a nice guy but he's accepted that FNF is to be wound down and believes that dividends do not offset prior draws.
Hopefully he is just aligning with what the text of the conservatorship ammendment says and the desires of congress.
I am not sure any other candidate would say anything different though.
He said that he believs the legal course of action is to continue to sweep all profits.
He implied that he is open to principal reductions.
That's all I've seen for now.
Did they change the accounting rules to allow the GSE's to payback the "loan"?
In YouTube, search "Freddie Mac is coming back" - from TheStreetTV, fast forward to the 30 second mark...