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Shareholders already got f'd over. 10 years in conservatorship, NWS.... They got very screwed. Some folks have died waiting for justice. Dont forget that.
I agree. They will release with gov guarantee backstop in place and credit line for a fee while they raise capital. That is what I hope anyway. Would be in everyone's best interest
Very insightful. Thanks for sharing Yank.
How are you listening to it? Is it streaming somewhere?
I would like to see him asked about the legality of the NWS, and pressed hard if he tries to dodge. Maybe reference his old Fox Business interview where he talks about seeing Paulson in front of a judge.
It is best to be in both. Allocation should depend on risk appetite
Everyone does understand that the "I" in "IPO" stands for "Initial", correct? This is already a public company.....
Bingo!
If you look at the decisions out yesterday, I didn't see any where the court ruled against the gov... It would be interesting to see just how often an en banc panel has ruled against the government.
Nice DD. Thanks for that research.
Which bone?
I agree with Commons_Cancelled. 3 billion capital buffer won't cut it in recession.
Rick- You need to follow-up with the US Patent office. That patent has been pending for over 6 years now. It shouldn't take that long. Worse than Sweeney.
It is interesting that net revenue stayed roughly the same from Q4 to Q1 at $5.1 billion and $5 billion respectively. Net income on the other hand dropped by $800 million.
"Fannie Mae expects to pay a $2.4 billion dividend to Treasury by June 30, 2019. Through the first quarter of 2019, the company has paid $179 billion in dividends to Treasury."
https://seekingalpha.com/filing/4465263
It looks like we are on day 98. Is that correct?
Given his previous comments, I don't see how MC could allow a single sweep under his watch. He is on video talking about the legality of it (or lack there of).
Glen B. is also saying at the same time that he believes in a Moelis style recap. Low range in Moelis is $11.73 year 1, and high range was $14.67 year 1. So, let's see. Personally, I will be happy with $7. Wish i would have sold a few years ago back in December (whenever it was) when it touched $6. I would sell for $7 tomorrow if I had the opportunity.
Glen, are you still thinking that we get a Moelis style recap?
That wouldn't have allowed people to get out. The treasury secretary should have never misled the public in the first place. That is where they went wrong. Gov made it seem like all was well, then they placed into conservatorship without notice.
Hank Paulson- "the first sound they'll hear is their heads hitting the floor.".
Maybe one day we will see old Hank in front of a judge just like Calabria said before he became another one of the gov good ole boys. That moment would almost be worth my 9 year + holding...
huh? has nothing to do with the profit for the qtr. It is a capital buffer. ...
That's not how I interpreted his comments. I took him as meaning he looks to have the entire thing wrapped up in 6 months. Not starting in 6 months.
targeting 6 months and working with congress don't align. If they are truly targeting 6 months, then they are definitely going it alone.
I am hopeful of the same. It makes sense, but not sure how they could know for certain. Maybe that is the assumed outcome?
Heard that at least 100 times over the last 10 years or so. Maybe this time will be different....
I'm down over $6000 in 2 days so far. 2nd day is just getting started. Administration's comments have been very misleading.
"Calabria said he will not act to allow Fannie and Freddie to keep its profits, which currently are directed to the U.S. Treasury Department. Reversing the policy would allow the mortgage securers to re-capitalize ahead of a privatization, but Calabria said he prefers to enact one sweeping overhaul instead of piecemeal changes."
fml
How does he benefit by announcing that he is stopping the sweep immediately? Why wouldnt he wait until after the earnings announcement? It wouldnt make sense for him to announce it prior imo.
What do you make of volume drop today. Absolutely no follow through from yesterday whatsoever
Navy posted earlier that majority of the volume at the time was sell volume, yet the price was up like 0.15 or so at the time. Interesting
What about the $50 par series.?
decision is supposed to be made within 4 - 6 months after the hearing according to this article. https://www.valuewalk.com/2019/02/takeaways-fifth-circuit-hearing-collins-v-mnuchin/
When was the actual quote?
..Arnold- Welcome back. Sounds like you witnessed America's favorite FNMA expert, Charles Gasparino. He used to report on CNBC several years ago before migrating over to the more conservative network in America, Fox. You will learn that the USA has 2 parties, Republican and the Democratic-Socialist party. As for Charles, you would do good to follow Charlie's advice. As he says, the GSEs are in receivership and they have increased substantially this year. be careful..
Looks like the Dems will be willing to cooperate with the treasury......Not. https://www.cnbc.com/2019/04/10/watch-maxine-waters-and-treasury-secretary-mnuchin-argue-at-hearing.html
Yes, but is that a good thing though? What will happen when/if it goes back up to the 30% range? It could also be signaling a near term short attack... Right?
I was hoping that would be a song haha.
Yes but right back on Friday right?
Stckpkr7000, are you in both preferred and common? I want to add more, just not sure which. I am approx 3:1 common right now in terms of dollar value.
Wouldn't they typically just remand it back to the district court judge?