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Thanks, Much better.
People expect meaningful discussions on this board.
Should it matter where I work or what I do or whom I support?
You are either making statements without any supporting facts/reasoning or asking rhetorical questions? How does it help anyone?
There are 2 different situations discussed.
You are mixing up.
RuudG,
You are making a statement that is totally unsupported where as those whose
are predicting RRR have all laws in their favor in addition to official promise to investors by Conservator.
capitalismforever,
You continue to mislead with intention to scare longs.
All know very well that NWS replaced fixed rate dividends.
If we go by your logic, then all the excess payments have to be applied to paying off the principal investment as per original SPAPA. So 12% may be applied on residual principal remaining. FMCC has paid back $1B in excess and FNMA owes about $5B.
This ia already stated official position by Mel Watt during Senate hearing.
What is new in this.
How about doing the same for all banks, insurance companies, auto, airline, USPS, amtrack, and all companies that have been bailed out by US gov.
BTW FnF never needed any Gov help. It is the Gov and Financial establishment that needed FnF help.
MBA is desperate for Gov Guarantees without which its members can not restart PLMBS business.
Investors have abandoned PLMBS, after 2008 crisis. Fraudulently created PLMBS caused massive 2008 crisis and losses for private investors.
What MBS does not foresee is, with Gov guarantees its members are vulnerable to Gov takeover as in FnF case.
Basically what general public, administration, congress and courts should look for is, whether FnF have paid back all Gov money along with 10% interest as per original SPSPA however unlawful and usury PSPSA may have been.
Once this happens, the time is ripe to extinguish all obligations to Gov including nws, warrants etc... If Conservator/tsy exercise their authorities to extinguish all obligations to Gov following FSSA/HERA then FnF will be left with more than $200B capital. FnF do not need to be further recapitalized and also FnF will not need any Gov assistance in foreseeable future.
With this, all cases against FHFA/TSY become moot and most shareholders will opt for voluntary dismissal of their cases. Remaining cases can be settled or courts will decide them.
This seems to be possible happy ending for FnF stakeholders.
Any party can cancel the contract agreements if the agreement violates the law. FHFA Director and Lawmakers have expressed the opinion that laws were violated with third amendment in congressional hearing.
In addition HERA authorises FHFA Director as well as FHFA conservators to to preserve and conserve the assets and no Gov agencies can influence these decisions or no one can bring any injunctive orders.
OB administration policy was to strip FnF of all their profits and assets and then give their business to Wall street financial establishment. One could see the blatant hypocrisy as well influence of Wall street in his Phoenix speech. OB said his administration is punishing FnF because of misdeeds of wall street banks.
OB did not know the difference between banks and mono line insurance companies.
Most important thing is reversing third amendment.
If Gov choses to exercise warrants then it may keep litigations alive especially from all pre third amendment common shareholders.
The best option would be to sell it back to FnF for a nominal price like pps on the date of third amendment.
I donated $25 to infowar.com for helping the cause of truth and justice for FnF shareholders.
Please contribute to similar causes.
https://www.infowarsstore.com/support-infowars/25-donation.html
Post the link for donation or purchase for those who want to donate.
what about executive privilege.
NWS can be voided by courts if found illegal.
NWS can be canceled, terminated or amended conservator.
The day FnF draw on SPSPA, lots of people at FHFA will lose their jobs.
Dir Watt is much smarter than Senator.
Conservator or courts have to void unlawful third amendment.
Once unlawful third amendment is voided, FnF become capitalized immediately and there is no need for recapitalization.
Without voiding unlawful third amendment there is no release.
'Donotunderstand',
Third amendment prevents FnF from paying off original bailout money. Since 2012, all the payments are going to Gov as dividend and original SPSPA amount of $187B remains unpaid as liability.
If third amendment is canceled, and all FnF dividend payments are appropriately applied to pay original investment and 10% dividend then FnF are very close to paying off all the obligations as per original agreement. After this FnF will be left with almost $187B capital.
Please read Collins Texas, filing for summary judgment
and also articles by "rule of law guy" on seekingalpha.
reccusdo,
You are confusing two separate things.
1. Validity of ACA - mandatory health insurance or tax for not having health insurance. SCOTUS ruled on this that ACA is valid law.
2. Spending for ACA subsidy
Congress has not approved any spending for ACA subsidy.
A district court ruled it as unconstitutional and currently in appeals court from previous administration.
Duplicity was quite visible.
These senators are basically asking private companies to transfer all the profits and assets to Gov and then borrow from Gov when the need money.
Should not these people do this with their own money and with their private business and show that it works well for them.
Crooks at best.
Once FnF pay back all the forced bailout, where is the need to draw from Gov.
These cronies want FnF to forfeit all the private company profits and capital to Gov and then borrow more money from Gov when they need it. These cronies are shaming RICO organizations.
jog49,
You did not understand.
Congressional guidance required when delegating the responsibility of congress. Otherwise decisions can be challenged in court.
This is what experts say.
This is where the congressional guidance is required when broad powers are delegated. In case of HERA there are no congressional guidance on how to exercise the broad powers. Congress can not abdicate its constitutional duties by delegating it to Gov agency.
rekcusdo,
This is my layman understanding.
Congress is the sole authority on all money matters. It specifically authorizes on how taxes and fess are collected, debts are raised and how the money is spent. But administration implements laws through rules and regulations and executive orders.
Congress did not authorize NWS and congress did not authorize funds for ACA subsidy. Congress delegated broad powers to FHFA through HERA without any guidelines on exercise of such delegated powers. This constitutes unconstitutional delegation of congressional responsibility/authority. So NWS should be void if challenged correctly.
Congress challenged ACA subsidy spending and won in District court and now it is on appeal by the previous administration.
Even though money collected through various sources goes to single general account, money can only be spent as per congressional appropriation bill. If congress did not allocate money for ACA subsidy then the question is where did the money come from.
ItsMyOption,
We all agree with you.
along4ride is not contributing in terms of news, information or analysis.
It is not clear what are his motives other than his scary comments.
It may mean more fairness, openness and transparency in trading.
Wall Street does not have credibility in the minds of investors.
That is what they preach inside beltway, but when it comes their personal interests what they do?
Sure, there is something important in those documents.
It must have been already leaked out or people know about it.
Financial Establishment wants another massive Gov bailout to start another cycle of private label MBS (PLMBS) Scam.
https://th717.wordpress.com/2017/03/01/calling-for-a-correction-to-the-false-gse-bailout-narrative/comment-page-3/#comment-1638
Currently Tsy Sr. pref investment of $187B remains as unpaid on FnF books even though FnF have paid back $265B. So if NWS is voided and $265B is counted towards payment principal and 10% interest then unpaid balance will decrease and correspondingly assets will increase.
FnF have lots of capital. Fake Conservator keeps on stealing all the capital. So there is no capital. Only way FnF can have capital is to stop fake conservator from stealing it from FnF.
If conservator cancels all obligations to Gov after paying $187B+10% interst, then FnF will have $187B+ networth (capital) and do not need any help from Gov.
FnF are reformed and they have $187B+ capital. FnF never needed fake conservatorship and fake bailout. Now they have to just terminate conservatorship and cancel all fake obligation to Gov.
When Carney reports, his only aim is help shorts.
It truly amazing work.
These people deserve the honor and respect.
You are insulting clowns.
This idiot is a devil in flesh
Good reply.
lijianch,
You lack basic understanding of FnF business model.
Please read more.
capitalismforever,
You need to understand how FnF model works before making misleading statements. Someone needs to moderate your postings and remove misleading postings.
FnF buy mortgage loans from loan originators (banks and non banks), securitise these loans in to MBS, then sell these MBS along with FnF guarantees for principal and interest.
Once FnF buys these loans, FnF owns them.