If you want to play fast and loose feel free. That said, any intellectually honest observer would see that the APA claims should have resulted as an injunction reversing the nws in 2014 and 2019, but the court system has successfully misinterpreted the law and gotten away with it.
Further, the takings claims that were determined at the cofc were wrongly reversed at the cofc appeals court and the supreme court left them as is, wrongly.
And then you have the accounting fraud claims which were lost but were valid.
And then you have the lawsuits to inspect the books and records which were lost but valid.
And now you have breach of contract claims which the judge fucked up their damages models, basically fucking up the whole trial, but we still won, but pennies on the dollar. These damages models will get appealed or political forces will move to settle and move on.
In light of this wake of injustice at the hands of the white house and us treasury and complicit fhfa as well as a court system that then subsequently justifies these illegal actions stamping them as legal or light wrist slaps, are you sure that i am an unscrupulous pessimist?
Maybe so, but I think after 9 years of reading every legal filing, every legal ruling and the applicable law — and watching everything just get fucked — I think that my perspective is conservative. I think it is unreasonable to expect an invalidating or a writedown of the spspa liq pref — unless there is now some legal reason for doing that that shows up.
Good luck with the cofc Bryndon Fisher claims. I like them. I have been wrong about all the legal stuff so far — but that it because I expected the law to be followed and I was wrong about that. Good luck.
Warrants will be exercised and I expect the SPSPA to convert to common. Common thus have no security. Preferred will be made whole.
