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Thanks J Canada. I scanned through the documents but I didn't see anything regarding a plan for existing shareholders. Big surprise there.
0 will be broken?? What do you mean?
I feel the same way. Been holding for years now. The day i sell is the day it flies. How about you sacrifice for both of us?
So which outcome are you hoping for then?
Didn't think corker was running for another term.
I hope you are right. It sure doesn't seem that way when I look at my account value :)
I wonder what makes him think that. Is he uninformed, or does he know something that he hasn't released yet? Interesting.. THanks for sharing!
premarket will be interesting. A lost court case for the plaintiffs is not a good thing. I don't care how my fellow longs try to spin it (please be honest with yourselves). I am long $70,000 which is a lot of cash for me, but I am starting to realize that there may be other options that might be better for me. For example, I almost sold some FNMA and FMCC and bought some BX last week. Considering it is up 7% today and pays an 8% dividend, I wish I had.
I can't count the number of times I have had similar examples, but over the years I have held on only to see this move sideways. I will keep a core of 10,000 shares of common and all of my preferreds (which are a considerably smaller position @ < $10,000), but I need to start considering not only the possibility that this doesn't end up in my favor, but also the opportunity cost.
Just thought I would share my views and my plans. I wish all longs the best. Hoping my core position still gets to $20+, and hoping all the worst for corrupt Corker.
Hi Navy. What makes you think that Mel will stop it next week? Corker and Mnuchin mentioned that they have 75 days. That makes me think that the sweep this past quarter will go through and that the one next quarter may be the one that gets retained.
Crapo or Corker?
Looks like small gap up this morning. The 75 days must be referring to the next earnings sweep. Means that Watt probably won't retain last quarters earnings. Sucks. Bs actually
Good question. Never really has been one actually
I think he builds capital buffer to a level that he has already determined and then says that the sweep will resume after it is met. My guess is that the buffer will be significant because they have to cover for the DTA write down. He will also mention that in the interim, Congress should focus on the long term solution rather than the capital buffer.
Wow. Market down nearly 2%. Guess that explains it then!
Any idea why this is down today? Is it just people taking risk off? I've been traveling all day and haven't found any reason
You keep talking about an international court case. Did this new investor file a lawsuit? Suing the US government is expensive. With only 900,000 shares, what makes you think they are going to spend the money on a lawsuit?
Oh course. That is what I have been saying ever since Watt's testimony. He will not send all of this quarter's earnings to the treasury, but he will allow the companies to retain the earnings to build a capital buffer. He said that the buffer amount is TBD. I'm assuming that the treasury will determine the amount of the buffer. If the buffer amount exceed the total earnings for the last quarter then all of the earnings will be retained. If the buffer amount is less than the earnings from last quarter then the buffer amount will be retained and the remaining money will be sent to the treasury. Watt never said that they are going to stop the sweep. He said that they need a capital buffer to be able to withstand a quarterly loss, or to prepare for Trump's tax plan.
Unfortunately, I think you are correct about the retention of capital only being one quarter.
Congress has had 9 years to work on housing finance reform. It is great that Watt will start building a capital buffer. It has been long over due. Did it ever occur to these guys that maybe it is taken 9 years because what existed prior to conservatorship worked well? Now that reforms have been make it should be even better.
Agreed. I think mnuchin will clarify exactly that on thursday. They will not end the nws, but rather pause it while the rebuild a set capital buffer. Now, let's hope the capital buffer is set to 200 billion haha!!
Capuano mentioned that "Since Fannie and Freddie went into receivership". I hate it when congressmen don't know the difference between receivership and conservatorship. Also, Jacob Lew is very dirty. I hope these 11k documents blow this entire thing wide open and people are prosecuted.
Nope.
Good Stuff Navy! I wonder who authored that post and who is running that site. Some excellent and new arguments are listed there.
I should have clarified... I meant calling the shots in regards to the net worth sweep.
I think it is pretty obvious that the treasury has been calling all of the shots the entire time. Extremely good chance that Mnuchin gave Watt the go ahead to suspend the dividend this quarter. I wonder how the stock price will react after the announcement? Do we see a spike leading up to it and then a sell off after? Do we trend up towards $3 and then spike after?? Exciting times for sure. Many of us have been waiting a long time for these next few weeks!
Lol!! I was thinking the same thing.
Agreed. They are going to retain at least a portion of the earnings this time.
OMG. Corker just told Watt to just go ahead and draw 10 billion right now to see that it won't cause an issue. LOL. That guy is so corrupt. How is he even on that panel?
I was hoping that Corsi would put out his new article right before Watt's hearing tomorrow. The Comey firing news has trumped everything.
Thanks Navy!! I hope those rumors are true!!
Do we have a single friend on this panel?
I would really like this to go back to $5 again so I can sell some. So many opportunities out there right now. Look at 5 day chart on NAK and check out VRX this morning. All my money is tied up in this right now. Come on Mel Watt, do your job!
I think he was supposed to provide more details around the regulators that are asking the Trump admin to stop taking the money out of F&F. Check the following video where Corsi was talking to Alex Jones.. start at 59 seconds.
It is a good article, but nothing new here. I thought there was going to be some bombshell discovery or something. Not sure why that couldn't have been released last week...
It looks like he only has 15 minutes. 1:25 to 1:40.
Agreed. All programs. Including ACA.
I will add, $10 billion is significant. And what happens when fannie and Freddie profits start to dwindle? Then ACA and other programs that $10 billion is funding suffer. ACA is already screwed even with fannie and Freddie profits. Imagine what would happen without them.
ransom money because the insurance companies have them by the balls.
What payments? Not specifically Fannie and Freddie payments, right? Payments for the insurance subsidies?
I saw a post from Corsi on twitter saying that he was going to wait until next week when it would be more impactful with a "larger audience".
"I've decided to release new stories on Fannie Freddie early next week - larger audience. Jerome Corsi"
https://twitter.com/jerome_corsi/status/859997699856363520