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Tuesday, September 29, 2020 12:07:11 AM
Your reasonings distinctly resonates in the abstract...
I think UST and FHFA want SCOTUS to rule against them because as we all know:
(1) Sets in stone that the law of the land prohibits a nationalization of two privately owned companies.
(2) Assists with the Recap and Release Plan.
(3) Provides political cover.
(4) Puts another Federal Agency under the direct control of Potus.
...and I will add that regardless of the precise conclusions of SCOTUS, the Clarity provided will allow all suits to be settled which is the primary purpose of having a Supreme Court and the ultimate goal of the Government to move forward today.
Having said that, and knowing FnF are going to be re privatized one way or another, this investment is a no-brainer today. The valuation of privatized commons @ a worst case 90% dilution (10 to 1 RS) would range between $15 and $50 based on last year's earnings of $12.50 per share. That's the WORST CASE!
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