Book Value Per Share as seen on the balance sheets.
I've already explained how the Common Equity is calculated in any financial company, with the data taken from the Balance Sheets, with an example of JPM.
Also, I continuously repeat that their Retained Earnings accounts are still deep in the red. Then, everything has to be adjusted for the offset (reduction of Retained Earnings account) attached to the SPS LP increased for free ($-216B Accumulated Deficit Retained Earnings accounts combined).
What is new, is that it's been found a financial website that posts the BVPS, because, as it's negative, most of the websites post N/A.
The BVPS is useful to calculate the Price to BV ratio, as a reference for stock valuation (JPM =1.8)
Book Value is just a reference because it's what the shareholders would get if the company were to be liquidated or, in our case, useful to stage the Charter revoked as a cut-off date.
This is why, in our case, the adjusted BVPS is what is required in the case of a Taking by the UST, instead of other stock valuation methods like the PE ratio.
All the Common Equity generated by FnF is held in escrow, including the one syphoned off to UST with the illegal CRT operations (unauthorized in the Credit Enhancement clause) or the settlement of the PLMBS lawsuit. They want the UST to buy our stocks on the cheap.
Everything will be adjusted.
The tweet provides a link to see how the Common Equity has been calculated in FnF in order to unwind the Separate Account plan (Premise: no dividend to anyone), starting with the beginning balance as of June 30, 2008, adjusting their Balance Sheets.
This BVPS drops further once it's adjusted for the Financial Statement fraud "External Position", endorsed on this board by the conmen: "SPS LP increased for free is off-balance sheet".
Then, it comes the unbacked crypto, the common stocks considered tokens, or directly, the stocks considered "options" (Ackman's GSE slides), disregarding that any security always trades based on its fundamentals, otherwise you are selling smoke.
This is a blow to all those peddling the idea that FnF are fine, they've been rehabilitated, and the companies will start soon to pay dividends, concealing this BVPS, their ERCF, the Table 8: Payout ratio, for dividend payments, the FHEFSSA that establishes the definition of each Capital Classification, to see that FnF are Adequately Capitalized only when the Total Capital (= Core Capital + ALLL) is greater than the minimum Risk-Based Capital requirement, and not met with "Capital Reserve".
Besides this negative BVPS, there is also that FnF post $0 EPS every quarter due to the ongoing Common Equity Sweep.
The plotters now have turned into technical analysts, in order to transmit a sense of normalcy. All day showing FLAGS in charts or PENNANT patterns 📬️, or the same guy with a different alias saying that after $2, goes $3, then $4, $5,...(Sesame Street).
The goal is to conceal the reality of the Separate Account plan, where the beef is.
A departure from the financial orthodoxy is allowing a group of men to raid the people's lifetime savings, helped with the pomp of CNBC interviews, etc.
