Send PM
Followers 37
Posts 6165
Boards Moderated 0
Alias Born 07/18/2020


Re: clarencebeaks21 post# 744469

Friday, 01/13/2023 2:58:14 PM

Friday, January 13, 2023 2:58:14 PM

Post# of 751685
I think this is it..."While it is true that California requires all state-chartered savings and loans to be federally insured, Saratoga’s decision to enter the savings and loan business in California was voluntary. Upon so deciding, Saratoga understood, with what may only be viewed as a historically rooted expectation, that the federal government would take possession of its premises and holdings as conservator or receiver if it substantially dissipated its “assets or earnings due to any violation or violations of law or regulations, or to any unsafe or unsound practice or practices[.]” 12 U.S.C. § 1464(d)(6)(A)(ii) (1988) (amended 1989). Saratoga also understood that such an occupation and seizure would not leave Sara-toga without rights. Saratoga could have reasonably expected to be able to contest the appointment of the conservator and the receiver in a U.S. district court. 12 U.S.C. § 1464(d)(6)(A)(v) (1988) (amended 1989). *959What neither Saratoga nor CHS could have expected was to be compensated for a regulatory possession by OTS and the RTC of its property if that possession were to occur following a determination that Saratoga’s financial situation mandated federal conservatorship or receivership."

Hence, no right of shareholders to exclude Uncle Suggy from their property and therefore no right to exclude others from their property therefore NO TAKINGS!

Uncle Suggy wins, yet again!

But what's ESPECIALLY PERNICIOUS about this fact pattern is that the Net Worth Swipe was implemented approximately 4 years AFTER they were placed in the CONservatorships with an intent by the evil Uncle Suggy, according to our best buddy, Jimmy Parrot, at the UST to "make sure that they NEVER go private again and to salt the Earth with the Shareholders Carcasses!"

That's my Uncle Suggy wink ! I'm sure other Americans can't wait to risk their limited resources by putting their own capital in a 1st Loss Position, in this Public Mission/Private Capital business and partnership.

What could possibly go wrong?

Day Range:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent FNMA News