"I fully expect the Perry Appeal will confirm the Lamberth dismissal." if you think appeal will be dismissed and stock will tank, why are you holding shares and here?
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big-yank Thursday, 10/13/16 05:14:50 PM
Re: Letgoofmyfannie post# 356234
Post # of 356249
Thanks for a thoughtful post. Sadly, I think most of the affordable housing discussion and the political consequences get lost in the rancor over who gets the $$$ in all this. I agree that a dangerous downside exists that is not helpful to the greatness of America, over the course of future history. I recently posted a lengthy message on the FNMAS board on this if you get bored, later in the evening, and want some mental stimulation.
I don't fear any tax loss selling, this year. A lot of the residual "holds" are remnants of the "Ninety Eight Cent Beauty Contest" dip from earlier, so they won't sell, and the balance are long-term "Under a buck'ers" that have been here since time immemorial... so I think they will just ride out the delays like me.
I fully expect the Perry Appeal will confirm the Lamberth dismissal. The contract basis is a big load of crap. The Fairholme suit under Sweeney has better "legs" if the basic premise could ever breath clean air without Docugate fumes numbing the court's sensibilities and understanding of the law. The pith of the matter has been lost in the pits of winning in the wrong game by plaintiff attorney groups. Stupid, if you ask me.
Too bad MorRon Steal blew the Delaware opportunity. A simple maneuver into a claim for "all preferred shares required to equal, pro-rated dividends under state corporate law" could have ended this, once and for all. Instead, MoeRon went for enrichment which is just another ludicrous rabbit hole that will deliver no end benefit.
I, too, will buy more preferred shares if the prices compress due to impatience with lack if progress. I also believe the impetus to resuscitate some eventual settlement will ratchet up in 2017 as the window to receivership starts to crack open. Never forget that the 79.9% of commons that the government holds in warrants become valueless in any liquidation, just like all other common equity. Sadly, resistance to "giving an inch" has annealed as a legal contest of wills for all or nothing outcomes that pit the immovable object against the irresistable force. Call it mano-a-mano, pighead vs pighead... it really doesn't matter.
The net result is no movement, no progress and no reward for shareholders.
Go Cubs.
JMHO.
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