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Ok. I fixed that.
False, yes.
This doesn't make sense at all, it's only wishful thinking:
I just copied his (actually inimitable) style
Lamberth delay was kind of expected. The delay increases interest received.
Fannie Mae is losing about $95,000 per day in interest. (Freddie doesn't have to pay interest, for now, could change if plaintiffs appeal or if a settlement comes up).
The election date is November 5th and cannot be postponed. Every day we get closer to the election, more hopium will fire up the GSE stock prices.
1500 is in Argentinian Pesos.
Commons and JPS would certainly both like to see this. It's the greedy government and its courts that are the killers here.
All the cockfighting by commons against JPS, which fills 80% of this board, is completely misplaced because the real "opponent" is the government.
FNMAT up even 30 full pennies (+11%).
https://www.otcmarkets.com/stock/FNMAT/overview
Do you deny that when the Fed sells its MBS holdings, it drives up interest rates?
Do you deny that when Fannie and Freddie buy MBS, it lowers interest rates?
The Fed doesn't sell its MBS because it wants to drive up mortgage rates. It's just an inevitable side effect of quantitative tightening, which includes selling off all the assets on the Fed's bloated balance sheet. The Fed may actually be happy with FnF buying the MBS, which helps to ensure that mortgage rates do not rise excessively.
Fannie and Freddie will not be able to purchase MBS until the conservatorship is terminated.
I don't care if commons sell or not.
I'm with Jimi Hendrix who once wrote: "If all the hippies, cut off their hair, I don't care, I don't care."
So you would "award" Bill Ackman, the largest holder of commons (10% of all Fannie & Freddie commons), a shit emoji 💩 because he is advocating the exercise of the warrants?
Doing the dishes as long as there is a sink.
"Gonna be yuge", that's all that matters. Don't worry about technical details.
The average JOE is broke and trying to avoid homelessness.
There is nothing wrong with being short. But if you express it openly, you can make enemies. When Bill Gates visited one of Elon Musk's factories, he mentioned in passing that he was short half a million shares of Tesla stock. Musk wasn't amused at all.
But KThomp already has so many enemies here that one more or less doesn't matter
Still, I like his honesty in "admitting" his short position.
Many current political activities point in the direction of release:
https://seekingalpha.com/article/4657634-white-house-and-treasury-housing-leadership-should-end-gse-conservatorships
Why don't you call Mnuchin and ask him if it's true?
Or ask Catman on X?
The LP is not cash. In cash they haven't made a dime since 2019.
And after recap/release, the LP will be gone anyway (probably converted to commons in whole or in part).
Mnuchin and Calabria asked large hedge funds (such as Pagliara, Fairholme, Hindes) that own the majority of JPS. For an offer to be accepted, it's enough if 2/3 of JPS shareholders agree. Holders with less than 1 million JPS are irrelevant. Therefore nobody asked you.
How much your alleged "$301 billion swindle" will actually turn out to be depends on what the government does with its SPS. Currently, the government has netted $108 billion out of FnF ($301 billion received as dividends, $193 billion paid for the SPS).
If the SPS were deleted from the balance sheet (for free), we would indeed get a "$108 billion swindle" on the bottom line.
However, if - as is far more likely - the SPS are converted to commons (possibly with a haircut on the SPS, see Calabria's book), the government will earn about another $100 billion. This would then amount to a "total swindle" of $208 billion.
That you keep writing about a "$301 billion swindle" is therefore wrong, even if you anticipate an SPS swap (although you are an opponent of this swap).
Look at the second answer I provided.
Stupid question, stupid answer: The fact that FnF are still in conservatorship proofs that SPS is equity.
More detailed answer: It depends on who owns the SPS equity. If it were owned by FnF, they would have been free since 15 years and never been in conservatorship.
You still ignore that the government paid $193 billion to FnF. Or do you expect that the government "donated" that $193 billion to FnF out of pure charity? Only then would your "$301 billion swindle" be correct.