Yes, I got a little excited on August 17, 2012, when the Net Worth Swipe was announced and they were relegated to the pink sheets!
Naturally I loaded up on the shares right after the announcement and have been in accumulation mode ever since.
Why? For one simple reason, the US Government would be setting a horrible and self defeating precedence by nationalizing 2 private shareholder owned corporations that the US Congress set up as privately shareholder owned in 1968!
It's written in a little document called the US Constitution that the government will NOT expropriate privately owned property for its personal use.
So long as the Net Worth Swipe is in place, BOTH the common and jps have ZERO ECONOMIC VALUE!
YES THERE IS A HUGE HUGE DIFFERENCE BETWEEN NATIONALIZATION AND THE GOVERNMENT TAKING OVER A BANKRUPT CORPORATION! Look at HERA, it CLEARLY makes this distinction.
So, Quote: "Do you think fannie and freddie were nationalized and all economic value went to the government with no value for shareholders or do you think they were exacted from? In either case does it matter? What is the relief provided for nationalization and are shareholders better off under that scenario or under the exaction theory?"
Yes, the twins WERE NATIONALIZED BECAUSE THE "CONSERVATOR" TOOK ALL THEIR PROFITS FOR ITSELF INTO PERPETUITY, WERE ALL ECONOMIC VALUE WENT TO THE US GOVERNMENT!
Yes, it matters because:
(1) Under Conservatorship Law, a conservator is suppose to preserve and conserve the assets of its ward, NOT TAKE THEM FOR PERSONAL USE.
Conservators that steal their wards assets typically end up incarcerated for long periods of time.
(2) Here, I think the SCOTUS gets it and can provide the retrospective relief the Collins Plaintiffs seek.
They were never bankrupt and make great earnings!
