Replies to post #350383 on Fannie Mae-No Politics (FNMA)

[big-yank]

I just reread Hamish Hume's supplemental brief on contractual breach. It is largely based on a common law claim that the text on stock certificates provides for a 2/3's shareholder affirming vote on certain matters like changes in liquidation preference. This is really remote stuff, to me. First, how many shareholders ever get or read terms on a share certificate? I have invested for twenty years and have held exactly one share certificate (Walgreens) over that span of time. That said, senior preferred shares being granted a superior liquidation preference than junior preferred shares could be ruled as only requiring a vote in a liquidation scenario which would not be ripe at this time.

http://gselinks.com/Court_Filings/Perry/14-5243-1602880.pdf

I say, again, that the breach argument is a wild goose chase in the appeal. The takings claim may have some legs to it.

JMHO.

[Stockman1010101]

The commons is where the biggest percentage swings will occur after the court ruling news is released. The preferreds will move along in relation to the commons, not the other way around. Look at past history to confirm my conclusions. You will see that I am right. The commons is where you want to be when the positive shareholder news is released.

POSITIVE SHAREHOLDER NEWS WILL BE RELEASED SOON.

Mark this post and please refer to it when it happens.