Wednesday, November 13, 2013 1:54:53 PM
I am not saying FnF is in bankruptcy but...
I could see here that this hedge fund private equity group wants to make a deal with Fannie and Freddie to spin-off the insurance portion in exchange for them to put back the jr preferreds they own and drop their lawsuits. In other words, the hedge funds will forgive THEIR jr preferreds in exchange for the FnF core businesses of guaranteeing mortgage-backed securities. The remaining preferreds and common would remain with what is left of FnF.
Put yourself in the shoes of the hedge funds - are they going to recapitalize the insurance unit with their forgiveness of the junior preferreds, and provide new fresh capital to recapitalize, and let those of us that own jr preferreds to ride along with them for nothing? I don't see that happening. I don't see why the hedge funds would want to dilute their new ownership with others that are not providing new capital.
I bet if we had a copy of the presentation I think we would see a scheme that is nearer to what I am saying.
Recent FNMAS News
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 08:07:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:05:24 PM
BARRON'S COVE to Premier at the Hamptons International Film Festival • APHP • Sep 30, 2024 2:56 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM