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Wednesday, October 13, 2021 3:40:31 PM
So no one's challenging the net worth swipe or 3rd amendment?
So your prediction is that the liquidation preference is 100% guaranteed to be 'cashed in' by the federal government, is that right?
So you are saying that it was the board of directors who approved the Citi deal to convert jps to common. Who controls the board of directors? Didn't the previous 'conservator' say he wanted the board of directors to decide on the how to do of a recap?
What percentage of Citi jps were convertible?
You seriously believe that the government offering a bailout that can never be repaid and when they were able to repay the government decided to Nationalize the gses is a legitimate and constitutional use of federal government power? What would be the impact on the pspa if there is a trial and it's disclosed to a federal judge that the governments intent was to 'salt the earth with the gses carcasses'?
1. A pissed off federal judge could do it (which could be appealed for years to come)
2. If the federal government decides it wants to follow HERA and do what they said they would do in 2008, they will have to take a haircut.
3. The federal government realizes that Nationalization is bad public policy.
4. Fresh capital infusions will require the federal government to be less greedy and act more like the nonprofit organization that they are.
A determination by any federal court that the federal government has acted in an unconstitutional or other illegal manner will likely have some impact on the effect and/or validity of the pspa and/or one or more of the amendments. Let's see if we get our day in court.
IF we end up with ANY favorable litigation outcome it should negatively impact the governments malicious use of the pspa to Nationalize two private corporations that they should have preserved and conserved! We'll see what happens.
Depends on how the dust settles on current and any pending litigation.
I know you and many long term jps are set in your ways and that's okay with me, but I just don't believe there will be a dilution solution nor instant recap and I think as time goes on and more capital is retained organically we will get a picture of how this 13+ years of 'conservatorship' finally ends.
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