Lol, lol you actually believe what that clown said! Please inform all of us where the case is located for the bankruptcy of the GSE's??? The judge in charge? The lawyers involved and also the creditors standing inline for their piece of the pie? You can't, and will never be able too. Why? To big to fail, SIFI, TINA, many other terms used to describe the GSE'S, so please stop, ooooh but it's like a bankruptcy bull.
Definition of how a bankruptcy occurs, in case you misunderstand:
A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.Feb 3, 2009
AGAIN: APPROVED BY A BANKRUPTCY COURT.
Chapter 11 definition:
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.
Self explanatory, DEBTOR stays in charge with only court/judge approval. Last I looked, FHFA did not stand for court and is in charge, we have zero say.
That last part in both is especially important and should be understood by anyone claiming to have legal knowledge, unless you're a charlatan. Both refer to COURTS having last say. We never went through probate and were never assigned a judge or court, so your claims are just plain wrong, wrong...and did I say wrong?
Huge differences between this conservatorship and bankruptcy, Calabria knew this, but was good at muddying the waters for the lemmings. Anyone believing what these politicians say is being led by the nose. Mnuchin said they'd get us out....what happened? Watt said numerous things that never transpired also. So the lesson here is, just because you can quote a lying POS politicians, does not make what that liar said, so.
“If liberty means anything at all, it means the right to tell people what they do not want to hear.” “I disapprove of what you say, but I will defend to the death your right to say it.”
