Replies to post #592551 on Fannie Mae-No Politics (FNMA)

[JosephS]

Oh my. This should be stickied so people understand how reliable these posts are:

***RUMOR***JUSTICE KAVANAUGH HAS ALREADY WRITTEN THE MAJORITY OPINION FOR THE DISSOLUTION OF THE FHFA AND THE CFPB, TO BE RELEASED ON MARCH 6th. The CFPB case will hold Oral Arguments on March 3rd, Tuesday. The next day in the afternoon, there is the Justices' Conference where they vote and come up with a decision and direct a Justice to write the majority opinion. If the decision is unanimous, it could be unveiled very fast. So fast that Kavanaugh has already written it and he has included the FHFA case also at Scotus, which is a replica of CFPB case. Obviously the Govt is aware of this and readies a final resolution of Fanniegate, reimbursement of funds to FnF and payment of damages to the Equity holders. FnF common stocks are worth $240ps (adjusted PER 13 times). The JPS will fetch their par-value.
The damages for the common stocks include a takings claim for the Warrant, it could be in the neighborhood of $10ps. FNMA 80% of that amount taking into account that it dragged FMCC into conservatorship (only 53% capital surplus over the Risk-Based Capital on June 2008 and it paid dividends on August 2008 vs 113% capital surplus in FMCC) and also FMCC shareholders have a case of preemptive rights in 2008 with the issuance of the warrant (the conservator should have triggered them) and also that the BOD of FMCC opted out of the Control Share Acquisition statute (anti-takeover measure) in the bylaws without shareholder approval, one day before conservatorshp (both cases arise under Virginia Code). The JPS, 20% of that amount (they have traded closer to their fair value all along and they don't have a Takings claim with the warrant)

[Stern is Bald]

Oh its rumor day? Always smart to listen to them when investing. Got any others? Theres another rumor they will be released and worth 14 million a share.. thanks for spreading rumors they are very helpful.

[Wingsjr]

RUMOR? BS! The proof will be Tuesday when this opens at 3.60/shr.

[Doc.007]

Thanks For The Rumor. Even if rumors of U, it has Much More Value Than Any Prefs BS constantly posted at Common FNMA Board here !

Happy Weekend

[chessmaster315]

"Wise man" repeats (or starts) rumors??
I think I will listen to man "not so wise" that does not spread rumors. Im ok with offering an opinion, but can I ask the source of this "rumor mill"?

Chessmaster does not make investment decisions on rumors.
Chessmaster makes decisions on known facts, plus his own logic and, sometimes takes input on logic from others.

I have done my due diligence on FNMA. I have met Tim Pagliara, and attorney and investment manager. I have also met other attorneys who have opined that the government "cant get away" with the net worth swipe. Its unprecedented. Never before has the government confiscated earnings "in perpetuity" of any company for any reason. FNMA is not "under trial" for IRS wrong doings or criminal activity such as laundering money, which permits confiscation of propery obtained with criminal activity.

[navycmdr]

SCOTUS GSE Secret Plans - $240 BUYOUT RUMORS ... more RUMORS

and ...I'm the ONLY ONE THAT KNOWs THIS ....


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Wise Man Sunday, 02/16/20 07:47:52 AM
Post # 592551 of 592572

***RUMOR***JUSTICE KAVANAUGH HAS ALREADY WRITTEN
THE MAJORITY OPINION
FOR THE DISSOLUTION OF THE FHFA AND THE CFPB,
TO BE RELEASED ON MARCH 6th

*********************************************************************
Wise Man Friday, 02/14/20 12:31:39 AM
Post # 592177 of 592571

I'm surprised that no one here(but me)mentioned the CECL
accounting standard in effect as of January 1st, whose impact
we were expecting many years ago. It was unveiled yesterday and
it was mind-blowing.
RECTIFICATION: I'm NOT surprised that no one here........

***********************************************************************
Wise Man Thursday, 02/13/20 01:09:14 AM
Post # 591883 of 592571

Today in #Fanniegate,it's explained how The Secret Plan unfolded.
DeMarco and Geithner implemented it after the numerous assault
attempts on the FnF's ownership in 2011 failed.

The Secret Plan is an open plan that anyone can read it in the law,
the thing is that it hasn't been made public. Beware of the psychopaths
that mock this plan. Only a crazy guy would mock a law.

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Wise Man Tuesday, 02/11/20 12:24:04 PM
Re: None Post # 591531 of 592571

The rumor is buyout at $240 per stock.
PER 13 times. Look it up in the dictionary if you
don't know what PER stands for.

[jcromeenes]

While this sounds really cool and all, I would like to know where exactly this is coming from and why we should listen to someone with an alias less than 1 month old.

[navycmdr]

Gee .. this Rumor was just a Rumor I guess ..

***********************************************************************
Wise Man Sunday, 02/16/20 07:47:52 AM

Post # 592551 of 596217

***RUMOR***JUSTICE KAVANAUGH HAS ALREADY WRITTEN THE MAJORITY OPINION FOR THE DISSOLUTION OF THE FHFA AND THE CFPB, TO BE RELEASED ON MARCH 6th.

The CFPB case will hold Oral Arguments on March 3rd, Tuesday. The next day in the afternoon, there is the Justices' Conference where they vote and come up with a decision and direct a Justice to write the majority opinion. If the decision is unanimous, it could be unveiled very fast. So fast that Kavanaugh has already written it and he has included the FHFA case also at Scotus, which is a replica of CFPB case. Obviously the Govt is aware of this and readies a final resolution of Fanniegate, reimbursement of funds to FnF and payment of damages to the Equity holders. FnF common stocks are worth $240ps (adjusted PER 13 times). The JPS will fetch their par-value.

The damages for the common stocks include a takings claim for the Warrant, it could be in the neighborhood of $10ps. FNMA 80% of that amount taking into account that it dragged FMCC into conservatorship (only 53% capital surplus over the Risk-Based Capital on June 2008 and it paid dividends on August 2008 vs 113% capital surplus in FMCC) and also FMCC shareholders have a case of preemptive rights in 2008 with the issuance of the warrant (the conservator should have triggered them) and also that the BOD of FMCC opted out of the Control Share Acquisition statute (anti-takeover measure) in the bylaws without shareholder approval, one day before conservatorshp (both cases arise under Virginia Code). The JPS, 20% of that amount (they have traded closer to their fair value all along and they don't have a Takings claim with the warrant)

[stockprofitter]

Thank you!

[YanksGhost]

Back in mid-February, THIS is how you framed the so-called SECRET PLAN. Sounded appealing. Too good to be true? YUP!

Let's all agree to stop with the Secret Plan garbage and focus on known facts as investors.

There is no silver bullet other than an unforeseen, huge court win that can easily solve Fannie Mae's Capital problem. This is an absolute fact because in statutory law, a Conservator or a Regulator can only impose capital requirements that, at minimum, meet the statutory standards signed into law. The Capital Plan can include a period of forbearance where Capital can be amassed, over time, as you correctly observed in the FHA example... a ten year window to rebuild to statutory levels. The same 10 year period of grace was also apllied in the FDIC capital build-up, by my recollection. But the end game MUST include and meet or exceed the statutory capital levels set by an Act of Congress. Simply put, Calabria cannot set a standard below what the Charter Act and OFFHEO set, unless Congress confirms via passage of a new law.

Fannie Mae reports its statutory capital position in their quarterly 10-Q report. That report in its most recent results, stated a capital deficiency of $131.3 B (reference page 66). That number is for Fannie Mae, only, not Freddie Mac.

Now read the FHFA Capital Proposal. NUMEROUS times, that 400+ page document states "the higher of" his mathematic model vs. statutory capital requirements as being the standard which will be imposed. There is an extensive review of this legal standard raised on yesterday's Corner of Berkshire & Fairfax site (link on gselinks)... posts by Midas79 in the last 48 hours.

There is NO legal basis where the Secret Plan refunds will meet the legal standards of release and some $200+ common share price. Beyond that, the likelihood of Government deciding to refund $billions they don't have is zero, zilch, nada, bupkis... you name it.

There is no Secret Plan. There never has been any Secret Plan. There will never be any, future Secret Plan. There are many positive outcomes for investors here. I have listed many of these over the last few days. But there is NO PIXIE DUST SECRET PLAN that is going to rescue FNMA from 12+ years of imprisonment. This is going to be a hard fought battle and time will be required to get to an eventual positive result.

No reply needed or encouraged.

FACTS MATTER!

[YanksGhost]

Yet another broken prediction as one more Chapter in the Secret Squirrel Plan is exposed for being worthless babble.

The biggest lies are on #Fanniegate.