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This guy is a crook and lies with straight face with equally complicit and fake media.
Outright Lies in his talking points.
1. FnF defaulted and drew $180B from Gov
2. Instead of admitting fraud committed by the member banks he points at FnF
3. FnF has Gov guarantees (at no point in time Gov provided Guarantees to FnF)
4. FnF are sitting on Gov risk balance sheet with lot of taxpayer risk exposure
5. FnF bought risky assets with tax payer guarantees
6. Shareholder gains and taxpayer loses
FMCC has paid back all loans at @10% and plus $700M more.
FNMA is yet to fully pay.
Basically it was legal, political and ideological compromise ruling, very conveniently wrapped in legal verbiage. Probably by design, they started with end results in mind and then reverse engineered the ruling.
Court cleared FHFA/Tsy with any wrong doing allowing FHFA/Tsy to continue to do what ever they are doing. Then remanded the case to lowers court for direct claims related to Contract Rights of shareholders.
In essence court gave both the parties what they wanted in part and denied in part making it easy as well as compelling for both the parties to settle the case.
Do not be so silly.
If shareholders do not fight for their just cause then who will fight their cause?
Anonymous @ https://th717.wordpress.com/2017/01/14/the-stage-is-set-for-victory/comment-page-1/#comment-1304
FnF shareholders have been complaining about fake media, fake financial establishment and their fake narratives since 2008.
Now we have POTUS DJT who completely agrees with us.
It is time to see justice from POTUS DJT if not from blind Lady Justice.
Nothing wrong with your post.
If Trump makes FnF great,
then in turn FnF make America Great again.
Great post.
Net dividends paid $58.4B on net SPSPA investment of $47.5B
Chess,
It is not the Gov that uses term 'implicit' Guarantees.
It is the crooo9ks in the Gov and media that have been loosely using this term to plunder FnF and FnF shareholders.
BTW it is unlawful to connote any sort of Gov guarantees without valid authorization.
The big investors make money using contra trades.
That is what is happening.
You are commenting as if FnF are traded in a free market exchanges.
FnF are not traded in a free market. BTW OTC markets are the most manipulated markets.
Most likely MM or people with insider knowledge are in control of the market for these companies...
U.S. District courts in Seattle seem to be good place for FnF shareholders to file lawsuits against FHFA conservator. Shareholders can expect their cases to be heard unlike other courts.
Are there any shareholders in in this area ready to file complaints?
good comments
BTW Calabria does not represent the views of DJT team.
May it is sop offered to unemployed fellow travelers in conservative think tanks to keep them placated.
(a thing given or done as a concession of no great value to appease someone whose main concerns or demands are not being met.)
Please read the full filing.
Judge is interpreting the word "may" as optional authorities but in addition conservator can also do whatever he wants.
Are our Judges so contrived to interpret the word "may" in most perverse way?
Correct legal interpretation of word "may"
(FHFA only have those powers and do not have any other powers as conservator.)
http://gselinks.com/Court_Filings/Robinson/16-6680-0022.pdf
Page 27:
That Congress, in describing FHFA’s “powers as conservator,” spelled out that the conservator “may” “take such action as may be (i) necessary to put the regulated entity in a sound and solvent condition; and (ii) appropriate to carry on the business of the regulated entity and preserve and conserve the assets and property of the regulated entity,” means that FHFA does not have other powers as conservator.
sure, good thinking.
What do you think about freewheeling Calabria?
Some times positive and some times negative.
Hope Calabria will be pragmatic in his advisory dispositions.
It is because big corporations and rich people grabbed all foreclosed houses for pennies on dollar and have created housing shortage.
The rents are sky rocketing and squeezing the common people from all sides,
i.e. no jobs, high rents and high house prices.
Donotunderstand,
Difficult to understand your message.
Please rewrite clearly.
Yahoo post:
We have an amazing and out of touch judiciary.
When citizens asked courts to review FHFA conservator (Gov) unlawful actions, Judge Lamberth said citizens lack standing and courts do not have jurisdiction..
When some third party files case on behalf non-citizens, courts say they have jurisdiction to review the cases and order to stay executive order of POTUS.
Mark may not be as extreme as fellow travelers.
Hope he will work with rest of the team in doing right things for the nation and people.
Does HERA violate "contract clause" of Article I of the United States Constitution?
As per FHFA filings HERA supercedes all the rights of shareholders (investors) including all the contracts between FnF and investors clear violation of contract clause in Article I of the United States Constitution.
Freedom of contract:
Freedom of contract is the freedom of private or public individuals and groups (of any legal entity) to form contracts without government restrictions. This is opposed to government restrictions such as minimum wage, competition law, or price fixing.
What is the contract clause?
The clause is found in Article I of the United States Constitution. Generally speaking, this clause was added to the Constitution in order to prohibit states from interfering with private contracts. The clause states that, ‘No State shall…pass any…Law impairing the Obligation of Contracts…’
Did not Judge Lamberth say it so many words in his judgment?
But Judge Lamberth acted more like the guy in the Lifelock advertisement, who says "he is only there to monitor for robberies -- not to actually do anything about them."
The appeals court should void the clauses of HERA and SPSPA that are unlawful and unconstitutional.
It is also surprising that attorneys for plaintiff did not take the clues from Judge Lamberth and pursue in their court filings.
Some one should file case against FHFA conservator for the cause of public interest for risking and harming public and taxpayers.
The amazing thing is, FHFA conservator is totally oblivious to any public or stakeholders concerns.
FHFA conservator thinks thats he has no duties to any of the stakeholders other than Gov in a highly secretive way. This was a conservatorship in name only with main purpose of misleading the investors and taxpayers.
Taxpayers/public are at great risk due to secretive conduct of conservator.
It is time unmask the FHFA conservator.
Moonmaker,
What is the point you are trying to make?
Can you please list some angels you know off?
FnF did not commit any fraud like FE and FT.
FnF did not need Gov bailout and never asked for it.
FnF were used for public policy purposes and to save bankrupt FE at the cost of FnF.
By any standards FnF acted like angels during 2008 crisis.
"it’s not honest opposition...People who do not play fair also fight hard."
It does not matter how balance-due is calculated either using separate loans or combining the loans, 30 year or quarterly basis as long compounding is done correctly.
Balance Due calculations @5%
fnma 5% fmcc 5%
2008 Q3 0 13.80
2008 Q4 15.18 44.51
2009 Q1 34.34 50.43
2009 Q2 45.06 49.91
2009 Q3 59.74 49.24
2009 Q4 74.63 48.56
2010 Q1 82.44 58.48
2010 Q2 83.06 59.72
2010 Q3 84.48 59.00
2010 Q4 85.99 58.64
2011 Q1 93.35 57.76
2011 Q2 97.32 58.35
2011 Q3 103.83 63.45
2011 Q4 107.08 62.74
2012 Q1 105.60 61.73
2012 Q2 103.99 60.69
2012 Q3 102.36 59.64
2012 Q4 100.71 58.58
2013 Q1 97.74 53.49
2013 Q2 39.60 47.19
2013 Q3 29.85 43.42
2013 Q4 21.61 13.52
2014 Q1 14.68 3.25
2014 Q2 9.17 -1.21
2014 Q3 5.58 -3.11
2014 Q4 1.65 -5.94
2015 Q1 -0.25 -6.86
2015 Q2 -2.05 -7.69
2015 Q3 -6.43 -11.70
2015 Q4 -8.72 -11.85
2016 Q1 -11.69 -13.74
2016 Q2 -12.75 -13.91
2016 Q3 -15.78 -15.02
2016 Q4 -18.95 -17.51
If the interest obligations on SPSPA draws are calculated at 5% with pre-payment adjustments then it should give fairly good idea about on which side the balance of payments lies.