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IMHO...His first ruling was tantamount to a government bailout. This current verdict is meaningless in his hands. Company man.
You base your opinion one on casse18 years ago, I'll base mine on his ongoing 10th year of litigation here. His actions over these 10 years speak volumes more than words. To each their own.
Lamberth will not rule in any way here that will benefit shareholders or harm the defendant. Company man.
Lamberth is a company man.
Over and out.
You are 100% correct. The defendant will not pay one red cent in damages. Ever.
Lamberth does NOT side with shareholders. That said, the unanimous jury verdict was handed down in August of 2023. Whatever time frames are mandated (if there are any mandates, I don't know), Lamberth knows the rules do not apply here.
#wrongdefendant
still overpriced.
JNOV. Hmmmmm.....where have I heard this before?
This is just further evidence there is no path in courts.
The reasons for this latest move south should be interesting. Likely be the same, but interesting nonetheless. There is no path in courts.
And?
I answered this but I guess you can surmise the result.
Gold is THE inflation hedge. I never commented on its historical performance as the correlation has changed over the decades. Today, gold is the hedge. You can convince yourself of whatever you like. If inflation were not rampant gold would not be at all time highs. EOM
Inflation is rampant. If it were not, as you all supporting this sad excuse of an administration claim, then gold would not be at record highs. Markets don't lie.
You say tomato, I say tomotto...
"History of the Federal Housing Finance Agency
The FHFA was established under the Federal Housing Finance Regulatory Reform Act, a sub-act of the Housing and Economic Recovery Act (HERA) signed into law on July 30, 2008. It was created to help strengthen the U.S. housing-finance system after the fallout from the subprime mortgage meltdown of 2007, which sparked a worldwide financial crisis and eventually the Great Recession.
The FHFA replaced two entities: the Office of Federal Housing Enterprise Oversight and the Federal Housing Finance Board, the original overseer of the FHLB system (it was created by the Federal Home Loan Bank Act of 1932). The FHFA took over the legal and regulatory authority of these agencies, which ceased existence one year after HERA was passed."
https://www.investopedia.com/terms/f/fhfa.asp
It never should have been where it was past few weeks. There was, nor is, literally any news or facts that supported the recent hike.
This drop is not tied in any way to the past few days of carnage on the big markets. This is all because there is no path in the courts for the GSE's.
Wait for the re-print. They've been cooking the books on jobs since day one.
But FNMA and FMCC did NOT get to retain the proceeds from the suits.
Post whatever response you like, but without the forced conservatorship the FHFA wouldn't even exist. But I digress, they've done SO much other good things in the housing market, they've made it unaffordable and out of reach for a large portion of the population. And not just in the here and now, but this situation will last for years. Great work FHFA!
Why a gag order? That will change nothing. All he's doing is reiterating what anyone following the GSE's already knows. There will be no release, the defendants will appeal everything, and this will be in court for FAR, FAR longer than 2 years.
Watch for lamberth sightings...
Could just as easily fall by that same margin. Do you think folks don't realize this?
I'm not sure that the knowledge of the average person regarding the function or even, as you suggest, the existence of FNMA (and FMCC for that matter) have anything to do with why it's a sub-$2.00 stock. The list is long why it has been where it has been, but IMHO the biggest reasons are:
Conservatorship not going away
NWS validated by highest court in the land
Too much precedence after 15 years of losses in courtrooms to expect relief from courts
Media blackout on what's actually happening and has happened
Congressional blackout on what's actually happening and has happened
and so on and so on.
I was being sarcastic, but I'll take facetious! lol
Still not sold on Royce. He is not a friend to anyone but the defendants.
Huh?
"This isn't true either. What you said was, in essence, that if FHFA wasn't FnF's conservator then it would cease to exist."
Wrong again. I've said before and I'll say again that the FHFA will never go away, even in the remotest of possibilities that the conservatorship is ended (which it won't be anytime soon) because government agencies as ballyhooed as this one is will just be given different powers and different tasks. Much like they do now, those potential powers and tasks will be meaningless in their effect on the housing market. This agency and what it claims to do are simply manufactured to create a sense of justification for it's existence.
They have one function, and we all know what it is.
And I'm sure they gave you all of the details before anyone else. Anything you can share is greatly appreciated.
Sorry, not buying it. yes I agree wholeheartedly the plaintiff's legal team are terrible, but to suggest there's an impasse that needs a judges intervention, specifically this judge, begs the question. he's had all of the information necessary for over a year when you go back to the trial, and its been 8 months since the unanimous jury verdict. Therein is my question, why the delay? The facts are no longer in dispute.
Hint: Lamberth is a company man...
It's actually funny that no one seems the slightest bit concerned that Lamberth is simply ignoring the certification of a unanimous jury award. and if you think it's because he's waiting for the parties to come to terms on the allocation, then I've got a bridge to show you that I'm selling.
Not even close. That's why I quoted "de facto conservatorship" which is what you suggested Barry created. In fact, the conservatorship was in existence since September 2008, but by changing the terms of it and creating the NWS and taking 100% of profits leaving the loan balance unchanged by labeling it as a dividend he, in fact, create a de facto Nationalization.
It was not a "de facto Conservatorship" that was created and subsequently perpetrated by GoBama, it was, and remains, a de facto Nationalization.
I didn't say what you listed about the "other" functions of the FHFA was not fact, what I said was those functions are nothing more than window dressing. The FHFA does nothing more important than safeguard the stranglehold on the GSE's while keeping it the best kept secret in housing and elsewhere. If you believe otherwise, which it sounds like you do, it would be great to see a list of accomplishments of the FHFA since inception. Heck, not even a list...I'd take a few bullet points.
CA is an anomaly in many ways for housing, most of them bad (unless you're an owner). BlackRock and other funds like it have always bought inventory in huge numbers, and actually when markets are in a downspin they actually buy more. Rents are parabolic due to availability, and most importantly inflation. Landlords have no alternative to raise rents to account for increases in maintenance, property taxes, and most importantly insurance. The primary drivers of the various crises in housing that I mentioned are simple: First the covid fear mongering that drove the market for 2 years. Then add to that the fully predicted and also fully avoidable interest rate hikes that, if the current administration prevails in November, will be here for years to come and likely increase. Add to that the Fed, whose decisions on interest rates are primarily dependent on jobs reporting, which has been a manipulated figure as part of the pitch about the "robust economy" that we are fed day in and day out. if the Fed would only wait until the reprints they would see that 11 of the last 13 months of jobs reporting have been adjusted...and those adjustments have all been lower.
You can pump the agency all you like, because whatever their "other" tasks might be, the condition of housing across the country tells me and anyone else paying attention what we already know. Whatever their function is, like other agencies involved in housing, are failing miserably at their tasks. And we all know that while those other things you listed are the supposed other functions of the FHFA, but we all know their only real job.
I don't like it either, but it is just the reality of the situation.
Option B would be more accurate.
He is unconcerned with deadlines, due process, and the existence or the appearance of impropriety. Recent exploits speak volumes.
Translation: It wouldn't make one bit of difference.
"Slow Walk" is a term for never going to happen. Let's assume for even the slightest of moments that they were to be released at some point in the not foreseeable future. I don't think they'd dissolve the FHFA despite the fact it was created to act as conservator, I think they would just remove that responsibility from their mission and duties and keep the entity in place to claim they are tackling other issues. I just don't see a wasteful government eliminating a high profile entity like the FHFA over this possibility, no matter how remote.