Wednesday, November 06, 2019 8:00:24 PM
Even if all the existing CS and JPS shareholders are wiped how many investors will invest
1. under conservator ship and 4617f
2. with 80% Gov warrants and SPS
3. with no future protection from political interference
4. with no due process and constitutional protection that other private investors enjoy
5. with no respect for fairness and rule of law
The point is, it makes no difference at what price secondary shares are offered if above issues are not resolved.
Besides there exists a sad history of top Gov officials misleading private investors to invest $20B in FnF just before conservatorship and then wiping it out with conservatorship.
Independent FHFA was created to insulate FnF from political interference but exact opposite and far worse has happened. FnF were safe under HUD because there were due process, APA and constitutional protections in place. FHFA has become just a proxy agency in the hands of walls street bankers/traders just like Fed.
To begin with, no investor will ever trust any promises from Gov officials. There needs to be foolproof guarantees that Gov officials will not fool the investors once again. This includes protection to existing CS and JPS holders that their investment will never be wiped out without due process and that too by the Gov.
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