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Yes, Mnuchin asked. But the conversion elephant for JPS is still in the room. Whether it's okay or not, depends on the terms. Without a haircut (or just a small one, like with AIG) I would be fine.
A conversion couldn't happen without the votes of 2/3 of the JPS holders (Pagliara, Hindes, Fairholme) anyway. They rejected Mnuchin's offer at the time. I wonder if they would agree to a haircut of 35 % or more now (AIG JPS had less than a 10 % haircut).
To make your tweets more credible, you should not write "$301 billion swindle", but subtract the $193 billion that the government actually paid to FnF (albeit under questionable circumstances). So you get a "$108 billion swindle". To be 100% correct, you would also have to subtract the cost of capital - at least the 5% interest that TBTF banks paid for TARP.
The jury verdict that the NWS breached the implied covenants does not undo the NWS. The Lamberth trial was only about damages for that breach. The plaintiffs will get the damages, and that's it. However, I think that the damages (as of today) were set far too low. The real damages were much higher.
LOL. It's a ridiculous illusion of yours to think that anyone here has any influence at all. Not even the big hedge funds have the power to move things. Ackman, Pagliaria, etc. are at the mercy of the government, and the government's decisions are merely political.
I have more people on ignore and less to reply to. Life is getting better by the hour
Re: "Social Darwinism is the survival of the richest"
One of the main reasons I believe in the benefits of homeownership.
— Steve Harney (@SteveHarney) December 10, 2023
Just saying… pic.twitter.com/j31dB2j3vJ
Didn't you sell your position (75 FNMAT) for a meal last week?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173348487
No mortal* can affect the course of events. The government holds all the cards. Those who make predictions about what will happen cannot and will not influence anything (whether "corrupted" or not). But that does not change the fact that what is predicted will most likely happen.
(* with the exception of "Wise Man", the Knight of the Sad Countenance)
Quod licet Iovi, non licet bovi
https://en.wikipedia.org/wiki/Quod_licet_Iovi,_non_licet_bovi
There are four levels of human existence.
1. Working for others.
2. Making others work for you.
3. Making money work for you.
4. Making debt work for you.
The 4th variant is the most complicated (see Bradford), but it can also be the most profitable with a good concept (sometimes in combination with lies and intrigues, see Trump).
Thanks. I have no boss. Anyone who constantly insinuates that others are bound by instructions has obviously been an employed underdog all his life.
LOL. Stop your arrogance. Your posts are often wrong from start to finish, full of logical fallacies, and lack even basic understanding beyond level 2 BS. Just look at the scathing reviews of your posts by Kthomp19. Someone who lives in a glass house (intellectual dump) should be careful not to throw stones.
Misconception 2.0
I don't care if commons go up 10x as well. They can even go up 50x ("illusion never dies") and I don't care. What I do care about is the appreciation of JPS. I only hold JPS because they are less risky (can't get diluted).
Warren Buffett style (for investors, NOT for traders) is: buy low, never sell.
I don't need to (trade or) sell my JPS because they will be converted into New Commons at recap/release near par value. After that, I'll wait for the New Commons to go up another 10 to 15%. THEN I will sell.
I'm sure you don't understand this either. Maybe you need a financial advisor who is not addicted to level 2 quotes of legacy commons on their way down to almost zero.
That makes no sense at all:
Mike Calhoun shows the way Democrats would go for a release (if at all). Ignore him at your own peril.
I'm glad about all the emojis 💩🤡 for my post, because people who use them seem to be signaling that conservatorship can't last long enough for them. Only in captivity can you lament convincingly about why life sucks so much.
#solutions2023 $100b goes a long way to solving the affordable housing crisis. pic.twitter.com/GDW3NgNGqx
— Fanniegate Hero (@DoNotLose) December 5, 2023
That would only work if he pardons himself after this insider deal.
It doesn't matter whether you sell this or not - unless you're about to starve and need some quick change for a meal.
Why not cancel all the stocks on the NYSE? That would be even more fun.
Wrong. GSE shareholders see green because the cones in the retina responsible for red color have been massively overstimulated (endless staring at level 2 quotes), causing wear and tear, while the green cones are still in great shape.
Needless to say, the green here is an illusion/artifact, but still leads to unjustified bullish forecasts.
I'm not Bradford, stupid.
If you can't even distinguish between people posting here based on style, spelling and arguments, and instead assume that all your opponents are one and the same ID, then you're lost anyway, no matter what insular talents you may have at bookkeeping.
Isn't once a month more than enough?
Yes, December 2 is an important date. On December 2, 1804, General Napoleon Bonaparte was crowned Emperor of the French at Notre Dame de Paris in a ceremony officiated by Pope Pius VII. But later Napoleon lost his war against Russia and ended up as an outlaw on the island of Elba.
Bob Dylan:
You used to be so amused
At Napoleon in rags and the language that he used
Go to him now, he calls you, you can't refuse
When you got nothing, you got nothing to lose
You're invisible now, you got no secrets to conceal.
How does it feel
To be without a home
With no direction home
Like a rolling stone
What began gloriously can still end in shambles. Today Biden fights against Russia and makes way for Trump
Free Funnie.
You're sitting on your plate called the "Secrect Account Plan," but unfortunately you can't see beyond the edge of your plate. That's why the saying "If all you have is a hammer, the whole world looks like a nail" applies to you.
Your strange and contradictory criticism that I have no idea about anything but nevertheless am a paid shill for hedge funds is explained by your particular situation described above. It is a mixture of paranoia and overconfidence/arrogance, which is why I have often compared you to Don Quixote, the "Knight of the Sad Countenance".
Don Quixote thought that the windmills he was fighting with his lance were actually giants. An evil sorcerer had transformed the giants into windmills to deceive him. But he, the Don, is not stupid. He's the only one who knows about the secret account plan and that it's all just a big deception
Thanks for the correction and all your other detailed work. I didn't know that FnF's total assets were already over $8 trillion. Also, I used 2.5% (which is the HERA minimum) instead of the 3% in the 4th Letter Agreement.
No. Her first name is Janet.
https://en.wikipedia.org/wiki/Janet_Yellen
I think the share price matters. If the SPS were converted to commons at $10, the dilution would be much smaller than at 1$.
The number of commons created by the dilution goes up if the share price goes down.
Yes, could be. What the silence really means is anyone's guess.