JPS direct claims dismissal is major issue for JPS. JPS doesn’t want to address it but it is a major blow to their cause. Hence the reason they immediately appealed across the board ...
1) The administration is going to move much faster than Sweeney; Treasury actually paying money due to an order by Sweeney is years and years away given the levels of appeal involved. 2) Sweeney's decision in the Fairholme case to only allow derivative claims to go forward has nothing to do with a junior-to-common conversion.
What does that mean? If you meant that it will be mostly or all common shares sold, I agree. There are already too many prefs in the capital structure.
Utter nonsense. Calabria said "It has always been my view that an exit from conservatorship is going to require a large capital raise by Fannie and Freddie." That means the boards won't be independent until after the re-IPO.
1) Common shareholders also had direct claims in Sweeney's court. If Sweeney dismissing Fairholme's direct claims were bad for junior pref shareholders then it was bad for common shareholders too. 2) The only way the juniors take less than par in a settlement (or at all) is in conjunction with a conversion to commons. FnF don't have the money to redeem the juniors even if it's at less than 100% of par.
No, it's just wishful thinking, from a non-shareholder no less.
When lawless conservatorship end, all stake holders win.
JPS holders never bought JPS with the hope of conversion.
JPS holders started becoming greedy when they realized the extent of corruption and the extent of lawlessness at unaccountable FHFA during Ob administration. Swampy judiciary made them even brazen.