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Possible settlement?
So this is it then according to those who understand it. Honestly, I was hoping SCOTUS wouldn’t take the case. We finally seem to be making progress in the courts and didn’t want to derail that. I’m waiting with bated breath for the market to digest and react. $5 Friday?
Well, that goes right along with his job. He just takes up space.
Funny how that works, isn't it?
The government's position is that a ruling in favor of the shareholders would get in the way of reform.
That's a huge position of weakness IMO since what someone's intentions are doesn't justify lawlessness. That's like saying, "Your honor, I should be allowed to rape this woman because I intend to marry her and make her a good woman."
The end doesn't justify the means, which is their sole basis of arguing the case. I think we easily win this no matter which court litigates it.
Good morning all. As we wait for the decision today, remember, we shouldn’t expect any drastic changes in SP. we still have (unfortunately) a while to go before any major news. Getting old, truly, but within one more year, we will have significant answers, whatever they may be.
Five Dollar Friday? :)
Can we get a sticky?!
Great question,
So after working for the government for 28 years, I can tell you that all that needs to happen for money to appear on any budget is approval from congress.
What happens is a proposal is sent after it has gone through its various channels of approval through whatever organization is requesting the funds. Once it reaches congress, it's usually a rubber stamp unless it's a huge sum.
So typical for this stock... 9 days of gains, followed by 2 days to erase said gains.
Gains? We don't need no stinkin gains!
I get very confused at this concept, whether it is good or bad for existing shareholders.
I agree. If true, that would mean they’re afraid of exposing how the government controlled/s the market, prompting panic selling and an exodus from Wall Street. If people believe the game is rigged, they’re less likely to play.
If I had extra cash I would have bought more after the big drop yesterday. Congrats to those who are buying today. Great opportunity.
Anyone think there will be something other than another delay granted for gov?
This has to be the slowest court case in the history of America. The argument is just on the dismissal! Not even close to arguing the case. Going to be another 10 years of delays. #Sweeneyretirementproject
Who knows. I've given up trying to figure anything out with this stock.
Same here. I remember hearing $20b was required which wouldn’t take long to get there
Doesn’t seem like there’s anything in there which someone on this board couldn’t have written themselves. All pretty basic and along the lines of what we’ve all been saying since the NWS started. So hopefully this is the beginning to the end of cship
Why would it threaten the politicians? It means nothing to them and they’re clueless anyway.
Lawmakers aren't experts at anything and make very dumb assumptions either according to what they think or have been told by their lobbyists or ill-informed advisors.
Apples and oranges. GM declared bankruptcy even after a bailout. Thanks BO!
These class-warfare communists are despicable
True, except one small problem. Congress exempted themselves from insider trading laws. Not sure if that extends to gov officials in Calabria's position, but since I don't think he's a dummy, I doubt he implicated himself with that ridiculous statement, if it wasn't a misquote.
However, I will say that I'm extremely sick of all this and if there's not any significant progress towards meaningful resolution within a year from now, I'm going to sell my position in the GSE's and invest elsewhere.
This has been a colossal waste of my time and money. I sold good stocks that have went up 400% since, to invest more in the GSE's, assuming we were close to resolution.
So sick of these disengenuous hit pieces.
That’s really insane. I’m always amazed at how shorters have big brass ones and tend to win the battle most of the time. But when they lose, they lose big. Read an article how someone shorted Fannie before the big run to $6 and lost $200,000 in one day when it shot up like a rocket.
My question though would be why short this when the upside is now clearly huge.
All great news. Now someone explain why the stock has been in the red since the announcement of keeping money, which is what we've been waiting for for 10 years.
Oh definitely. Probably one of the many reasons the stock is depressed even after recent good news
Yes, but if the SPS will eventually go away o e way or another. The GSEs are not getting liquidated any time soon, that much is certain.
Hi Obiter,
From what I understand it would mean preferred holders would get a better deal in the event of liquidation.
https://www.investopedia.com/terms/l/liquidation-preference.asp
Thanks Potty, just hard to remain positive when expectations keep getting killed.
All the expectations we had seem to be pretty much lost in the wind. Not looking very optimistic at this point. I would have expected much more of a positive reaction to yesterday's news.
So what's us longs going to hope for the next 10 years?
Yep, a lot of uncertainties and timeframe. Could be another 5 years before any meaningful changes in our favor. Oh well, I can wait. I will be independently wealthy here in a few months and don’t need this to pay off anytime soon.
I agree.
So why didn’t this go vertical yesterday? Not a great day considering what we’ve been expecting. I guess we’ll see how the week plays out, but I expected over 4 yesterday at least.
No real fireworks today. Let’s see how the week plays out.
Something tells me we get nothing today, not even an explanation for a delay.
There’s a few reasons they might have done this:
1. Standard protocol when losing lawsuits.
2. They feel they need the current set up in order to implement their plan
3. Trying to delay the inevitable in order to buy time for whatever reason
4. They actually believe it and want to continue their illegal actions.
5. They’re putting on a show for the Dems to make it seem like they’re on the same team.
It means treasury doesn’t agree with vacating the sweep and wants the judge to not take en banc as a correct ruling
Sure, that's possible, but I think many are just skeptical of anything with these companies, and rightly so.
I give it 50/50 at this point. If whales thought it would end, they'd be scooping up shares in droves this week and it stayed flat.