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Be realistic. No way. Not even $2.40s today.
Be careful posting that around here. You'll get blasted for posting facts like that.
Thats yesterdays volume. Current volume is 44,860.
News wasn't bad but I don't think it was what the market wanted. The expectation or hope was some plan that laid out details. As already posted by others without details no one can correctly value the GSEs. It provides a pathway to privatization -- Great! Now the devil is in the details.
To me it is just smoke screen to allow the government to keep taking what they feel they can.
It is a laughable plan because they could literally, right now, allow the GSEs to start building capital which would have an immediate and direct impact on the GSE under capitalization and yet they choose to do nothing.
Are insinuating I am lying? Is it not down in the pre-market right now $.15? What did I state that was a lie?
I am not selling my shares. I am not buying more either as I have no more funds to do so at the moment. I have held on way to long on this one to give up on it now.
Yes it could be a fake. The bid ask spread is very wide even for pre-market.
Not trying anything. Just stating the facts. The market didn't like the report it appears.
Pre-Market down $.15 now. $2.82
Agreed. It is completely illogical to the need for capital retention and still maintain NWS. Ending NWS immediately starts a real plan of actually caring about the critical under capitalization of the GSEs. It is so fricking obvious that the Treasury would rather keep getting money fed to them via NWS than the face the under capitalization issue.
The world knew the intentions the moment the memorandum was issued by the President. The "plan" was in motion then...slow motion.
1. Acknowledgement that the GSEs are critically under capitalized.
2. Address the problem by issuing the order to create a plan.
3. Plan created and now revealed but plan offers no real specifics and still mentions Congress acting for fully reforming GSEs.
It has been announced months ago about moving GSEs toward privatization again. This plan has changed little about that announcement and is nothing more than a nothingburger.
I expect a sell off tomorrow in the $.15 to $.20 range. The drop may continue into next week.
It is NOT a plan. It is busy work to make an attempt to look like the politicians care about something when all they really care about is confiscating more money. A plan would have details. Everything in the document has been discussed before. No details means no action. The only real plan and action is the ending the NWS. Without an end to it then the robbery continues.
This is the stupidest plan ever.
The GSEs clearly need more capital. The Plan--increase the capital buffers. Do we end the NWS to help with increasing the capital buffers? Nope that would be too easy. How can they publicly state that a plan to help GSE reform not allow them to retain earnings??!? It just makes them look stupid. No we can't let any shareholders gain on GSE reform. If it doesn't benefit the government or any of the "American Elites" then they have to be against it. This whole thing stinks and looks entirely illogical.
Really this is a nothingburger in that the plan has been discussed about being released in a certain time frame for a while. We all knew it was going to happen and not an if but a when.
Well the when is getting closer and all of the sudden the lemmings wake up and go "Gee this is really going to happen soon I better buy some shares."
Sorry no premature celebration for me just yet. 2024 a long ways away for sure but at least we finally see the light at the end of the tunnel.
Commons cannot declare victory just yet because I think there will be an element of share offerings to go with the retained earnings capital rebuild. It could take a few years with several offerings and that may be why the 2024 year mentioned.
Heck is it possible that Calabria only said 2024 just being ultra conservative with the time frame? Unless we see the plan all laid out I still feel like every quote from every article/interview is suspect.
I am the doubting Thomas of FNMA.
For all you legal scholars out there. Doe this have implications for any of the court cases going forward?
https://www.cnbc.com/2019/06/26/supreme-court-refuses-to-overturn-auer-rule-that-bolsters-regulators.html
My understand on this ruling is if there is any ambiguity with HERA then it would fall on the FHFA to interpret it?
Looking for some more legally minded to weigh in here.
I did my own research and here is a good article that explains what brokers and mutual funds can do with stocks less than $5. Really the exchange isn't a requirement (unless self imposed by the fund) but being listed on better exchange does provide more liquidity for institutions which makes it more attractive.
https://www.fool.com/investing/2017/11/06/can-mutual-funds-own-stocks-under-5.aspx
In my opinion getting to $5 first would be easier milestone to achieve for FNMA and FMCC. Once FNMA and FMCC get there some fund's restrictions ease and the price can move if they chose to add it to their portfolio. Brokers can start pitching it to their clients etc...
Thank you for your post CryptoNator. I do think that some of your logic applies but I am confused because I thought fund money was based the $5.00 minimum rule (to hold/own) and not based on the exchange the stock trades on (although funds may have additional rules that are self imposed).
Take for example Adidas AG (ADDYY), Nestle (NASDAQOTH: NSRGY) and Nissan Motor Company (NASDAQOTH: NSANY) are all internationally well known companies. But they all trade on the pink sheets or OTC!? Granted they are all foreign companies (hence the Y at the end of their symbols) but I got to believe there are funds that hold some of these companies.
Just think what happens if the en banc isn't favorable. Its game over.
The timing of this couldn't have been more planned. We are days if not hours away from an crucial court decision and he opens his mouth and says this. It is all political covering in my opinion.
$3.05 Gap almost filled?
How is the En Banc ruling disseminated? Do the plaintiffs and defendent attorneys get notified a day or two before the ruling? Does it get into the hands of the Plaintiffs and Defendants attorneys first before being posted on the web? Or do we all learn about the ruling at the same time it hits the web?
I would think they (attorneys) would know before us but I am curious as to the timing of events.
Close near high of day makes for a bullish start tomorrow!
Basically the countdown clock has just started. The stock will move once details of what the plan is/will be well before the two year clock ends. Court rulings can also alter the clock time.
At this point I don't have a log of all the things Calabria has been on record stating but is it possible that Calabria is referring to a plan which he will reveal within the 6 month time frame I believe he was quoted as saying but that plan will take over two years to fully implement if Congress does not take action?
What just happened? Lots of buys going through. Just spiked to +$0.12.
Something just leaked.
I would think they would do what they did last time it looked like they were going to need to draw money. Wasn't that when they raised the capital buffer to $3 billion? Wouldn't they just raise it again?
If the ruling is in favor of the plaintiffs how long does it take for the remedy to take effect. Will the remedy or outcome be described in the Judges ruling? Or is there another waiting period to find out what action the Judges propose as an award?
Does it work like this Judges find for the plaintiffs and Net Worth Sweep ends instantly?
Now assuming that NWS ends instantly does that equate to GSEs beginning to retain capital?
-$0.07--The bleeding continues....Will continue to bleed out until news.
En banc is only shot left. It is our only hope I fear.
Tim's tweet states that "Inherent in that plan is the fair and equitable treatment of shareholders."
That has got to be the biggest joke! Fair and equitable??! Look at the past 10 years and tell me if that is fair and equitable. LOL
There are any number of things that it can be. I just look at it from a historical perspective that the sweeping overhauling type plans that were proposed in the past by a number of people were not favorable for us shareholders. I have no inside knowledge of the plan but sweeping overhaul sounds to me like lots of changes and I also look at it within the context of the article that also suggested Calabria not going to end NWS on his own also another negative.
Others have mentioned that this could all be a setup and cover for Administrative action ie have to have congress fail to do anything first before acting and that could very well be the case. Either way it just means more short term < 6 months pain in absence of court ruling.
One sweeping overhaul sounds pretty scary if you ask me. It could very well be positive for shareholders as well but I am just going with my gut and it tells me not good.
I am hopeful of en banc but basically it is the last straw for me. I gave up a considerable amount of time and opportunity for something to happen with this investment in hopes that an administrative action would take place this year but now administration is saying it is up to congress which will take an eternity.
Courts are the only likely short term path ending the sweep. There can be no chants of stop the sweep to Calabria because he basically said he isn't going to do it.
I read it and I read it again. If this is true this is pretty bad news.
Calabria will not stop sweep as it states he will not act to allow Fannie and Freddie to keep its profits.
Only thing left to stop the sweep is En Banc ruling. After that no chance.
"Officially ending the conservatorship will require Congressional action." - slim chance that happens so we will be stuck to the status quo for quite some time if courts don't stop sweep. Dead money = sell.
Ah so that is it a merger proposal. Thanks for finding!
EDIT -- Nevermind link was from 8 years ago lol.
This is nuts. Up $.17 on day with no news??!
I missed the news about En Banc on April 23rd. Was this confirmed?
ShiftPixy vs. Lyft: Which Is the Better Buy?
https://finance.yahoo.com/news/shiftpixy-vs-lyft-better-buy-153047998.html
ShiftPixy vs. Lyft: Which Is the Better Buy?
https://finance.yahoo.com/news/shiftpixy-vs-lyft-better-buy-153047998.html
UPL is already a profitable natural gas company.
UPL - could be days or weeks away from receiving the $260 million owed to them from "Make Whole Claim" lawsuit.
https://finance.yahoo.com/news/ultra-petroleum-corp-announces-favorable-234542592.html
UPL trades at .55 and will at least double if not triple once the lawsuit gets resolved and they receive their money.