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Don't worry! The 21st is coming!
So who here thinks the "new" day of reckoning is the 21st?
Whatever.
"On August 17, 2012, Treasury and the GSEs, through FHFA, agreed to the Third
Amendment to the PSPA, which is the focus of this litigation. The Third Amendment “replaced
the previous dividend formula with a requirement that the GSEs pay, as a dividend, the amount
by which their net worth for the quarter exceeds a capital buffer of $3 billion. The capital buffer
gradually declines over time by $600 million per year, and is entirely eliminated in 2018.”
Treasury Mot. at 18. In simpler terms, the amendment “requires Fannie Mae and Freddie Mac to
pay a quarterly dividend to Treasury equal to the entire net worth of each Enterprise, minus a
small reserve that shrinks to zero over time.”
https://ecf.dcd.uscourts.gov/cgi-bin/show_public_doc?2013cv1025-51
"On August 17, 2012, Treasury and the GSEs, through FHFA, agreed to the Third
Amendment to the PSPA, which is the focus of this litigation. The Third Amendment “replaced
the previous dividend formula with a requirement that the GSEs pay, as a dividend, the amount
by which their net worth for the quarter exceeds a capital buffer of $3 billion. The capital buffer
gradually declines over time by $600 million per year, and is entirely eliminated in 2018.”
Treasury Mot. at 18. In simpler terms, the amendment “requires Fannie Mae and Freddie Mac to
pay a quarterly dividend to Treasury equal to the entire net worth of each Enterprise, minus a
small reserve that shrinks to zero over time.”
https://ecf.dcd.uscourts.gov/cgi-bin/show_public_doc?2013cv1025-51
If further proof is available as to why a unanimous jury verdict delivered in August has not yet been certified, I'm all ears.
I know they're not allowed to pay a dividend. Do some digging and you'll find that the NWS was classified as a dividend. That's why I think it's egregious.
Just an FYI: The NWS is considered a dividend, which is how it was conveniently lableled so as not to reduce the principal balance of the loans and allowed to exceed that amount by hundreds of billions of dollars. The NWS is in full effect and not only hasn't it been eliminated, it has been rubber stamped as legal when needed at the discretion of the conservator.
Your information below is not of concern to many as it does not the NWS.
Are you a gambling person?
I guess the supreme court didn't get that memo
Yeah...nothing will happen between 2036 and 2039. it's easy...put in milestones that take decades to reach, it ever, and work your tail off in that time to use legislation to sunset them.
Translation (and it coincides with what I've said for years):
the defendant won't pay one cent in damages regardless of rulings or verdict.
We'll all just have to wait and see, but I'm not holding my breath.
Cheers.
We'll all just have to wait and see, but I'm not holding my breath.
Cheers.
" But bottom line is that it can halt on the way up or on the way down, or pending news."
That was pretty much where I was going with my thoughts, but the likelihood of any halt for upward price is non-existent (in my opinion only) but a halt for catastrophic news sending the price south does not seem out of the realm of possibility. For instance...why would a judge fail to certify a unanimous jury verdict delivered in August? asking for a friend...
I would love for that to occur, but there is no clear path to release, and as such no clear path to recap. This conservatorship is going nowhere in the courts because the conservatorship itself has not been challenged. Further, recap (by way of investment/IPO) will also be a stalemate because serious investors will not throw hundreds of billions at entities under the thumb of a conservator...especially THIS conservator.
Simply put, I'm not counting on things unlikely to happen timely.
Not quite sure what that means, but if you want more clarity on my end, it's simple. The ONLY reason trading will ever be halted will be for catastrophically bad news. It will never be halted for things such as "release" "re-list" or "re-cap". The only thing that will prove that wrong is time, because you surely cannot.
Willful ignorance. The media and governmental information blackout is, and always has been part of the plan. It's by design.
No. it is NOT "halted". Nor will it ever be "halted" (for the reasons you think at least).
All I said was until I see his certification on the August verdict I won't rule out the possibility.
BTW...the "media"? They've avoided this for 16 years, so what would change now? I'll bet most in the "media" have no idea of the current, past, or future situation regarding the GSE's and the defendant.
The plaintiffs in this case are far different from the plaintiffs in the one you cited.
I've said on dozens of occasions to look at his recent activity in the courtroom since 2021 and see how he feels about the due process of law.
I agree with what you say, but rest assured he can do exactly that if he chooses. The easiest and most sure fire way he can do so with little avenue to challenge his decision would be by a ruling of JNOV (Judgement Notwithstanding the Verdict). In a nutshell, it's a subjective ruling wherein the judge can declare that despite a jury's ruling he feels they voted and delivered their verdict incorrectly. I'm not suggesting he's going to do that, but IMHO that's how this particular jurist would sidestep this verdict. Again, not saying he's going to do it, but I would never rule it out until he signs on the line which is dotted to certify their verdict (which, by the way, was delivered in August).
Who's the "chief Judge"?
PS: The defendants, their lawyers, and the judge in this case can do whatever they want whenever they want. This has always been a case of the "wrong defendant". When the adjudicators are no longer impartial, what other outcome would you expect?
The FHFA did not take any money from the GSE's via NWS
It was taken unfairly, but the highest court in the land ruled it to be completely legal and left the option open for the practice to continue at the discretion of the conservator
You can sue all you like, but the precedent has been set
Gambling is safer as there is a chance to increase your investment in the activity or event.
Maybe it's the next definite but tentative or concrete yet flexible date that Lamberth will definitely but possibly certify the verdict.
"...if released from conservatorship."
Are these people even serious?
Mindless. Period.
Agreed. From day one of MC's appointment, I said he was a snake in the grass. I held out hopes for SM, but he turned out to be a wolf in sheeps' clothing as well.
And here we are...
LOL. And?
It's low because pretty much everyone knew that the hyping of the 1`7th was exactly that. Hype.
LOL. It's interesting reading all these comments over these past weeks and months with some many having a favorable view of RL and the belief that he'll take the correct path.
If trading ever did stop it would be from lack of investor interest
RL is a company man...rules and deadlines are meaningless.
Still makes no sense to me.
Wasn't that some sort of "write-off" shenanigans?
Why hasn't it (jury award) been certified as of yet? This is cause for some head scratching IMHO. And once the award is potentially announced, then there's the task of enforcement.
Jury: You owe $612 million plus interest to the defendants
UST: We're not paying. Sue us.
Lamberth: Next Case please.
I've been telling everyone they should pay attention to his "OTHER" noteworthy litigation that he's presided over in recent years. Tells the whole story.
Game-Set-Match